Latest AIA Headlines
All the headlines from our AIA Topic Page, ordered by recency.
AIG Still Working Out $15 Billion Sale of Alico to MetLife
Mar 5 2010 // A tax question holding up American International Group Inc.’s sale of its foreign life insurance unit to MetLife Inc. is expected to be resolved favorably, clearing the way for a roughly $15 billion deal, sources...
Prudential and AIG Execs Selling AIA Deal to Asia Staff
Mar 4 2010 // The chief executives of Britain’s Prudential Plc and American International Group met employees of the two firms in Southeast Asia on Thursday, in a bid to address concerns about the insurance industry’s record...
Best Makes No Ratings Changes on AIG Due to Sale of AIA
Mar 4 2010 // A.M. Best Co. has commented that the ratings of American International Group, Inc. and its subsidiaries are “unchanged following the announcement that AIG will sell the AIA Group, Limited to Prudential plc in a deal...
S&P Puts ‘the Pru’ on CreditWatch / Negative on AIA Acquisition
Mar 2 2010 // Standard & Poor’s Ratings Services has placed its ratings on Prudential PLC and its operating subsidiaries, including the ‘A+’ long-term counterparty credit rating on Prudential, on CreditWatch with...
U.S. May Follow Citigroup Exit Strategy for AIG
Mar 2 2010 // As American International Group Inc. prepares to shed two big units, it looks set to follow the same path as Citigroup Inc. out from under the U.S. government’s wing. The government is likely to follow an exit...
Ratings Recap: AIA/AIAB, SOVAG, Coface, PhilNaRe, Generali Rueck
Mar 2 2010 // Standard & Poor’s Ratings Services has placed its ‘A+’ counterparty credit and financial strength ratings on American International Assurance Co. Ltd. (AIA) and American International Assurance Co....
Pru-AIG’s AIA Life Marriage Makes Strategic Sense But Carries Risks
Mar 1 2010 // Prudential Plc’s $35.5 billion offer for American International Group Inc.’s Asia business marries the UK insurer’s fast-growth strategy with AIA’s mature business profile — a logical,...
AIG to Sell ‘Crown Jewel’ Asian Life Unit to UK’s Prudential for $35.5 Billion
Feb 28 2010 // American International Group Inc. agreed to sell its Asian life insurance unit to Britain’s Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout...
Medical Malpractice Excluded from Health Insurers’ Antitrust Legislation
Feb 22 2010 // Free-standing legislation introduced by Reps. Betsy Markey of Colorado and Thomas Perriello of Virginia to amend the McCarran-Ferguson Act for health insurers no longer includes text to remove the limited antitrust...
Why AIG Omitted JP Morgan from Underwriters for Life Insurer IPO
Feb 12 2010 // American International Group Inc. turned down JPMorgan’s attempts to get in on the estimated $10 billion Hong Kong IPO of its Asian life insurance unit, sources involved with the deal said on Friday, in a snub partly...
Insurers Decry Overturn of Illinois Med-Mal Caps; Attorneys Praise Ruling
Feb 5 2010 // The American Bar Association says the Illinois Supreme Court was right in striking down as unconstitutional the caps on non-economic damage awards in medical malpractice cases. Insurer groups, however, say the decision...
House Committee Passes Federal Insurance Office Act
Dec 2 2009 // The U.S. House Financial Services Committee has passed a measure to create a scaled-back federal office that would be a national insurance information agency with some authority in the area of international insurance...
AIG Further Cuts Debt Owed U.S.; Readies Global Life Units for Sale
Dec 1 2009 // American International Group, Inc. (AIG) today said that it has closed two previously announced transactions with the Federal Reserve Bank of New York (FRBNY) that have reduced the debt AIG owes the FRBNY by $25 billion in...
Insurance Trades Cast Wary Eyes at Senate Financial Services Bill
Nov 11 2009 // Chairman Christopher Dodd (D-Conn.) of the Senate Banking Committee on Tuesday introduced a draft of the long-awaited financial services regulatory reform bill. While insurance industry representatives were quick to...
Insurer Interest High in Michigan Credit Score Case
Oct 8 2009 // The Michigan Supreme Court on Oct. 7 heard the opening arguments in a closely watched case that may decide the fate of insurers’ use of credit history in setting premium rates for personal lines policies in that...
Study: 40 Years of Auto Safety Efforts Have Saved Lives, Prevented Injuries
Sep 3 2009 // Auto and traffic safety efforts over the past 40 years have significantly reduced the number of accident-related injuries and fatalities, according to an analysis of government data. The data shows a continuing drop in...
Legislation to Extend National Flood Program Introduced into Congress
Jul 10 2009 // Legislation that would temporarily extend the National Flood Insurance Program (NFIP) until March 31, 2010, was introduced into Congress yesterday. House Financial Services Housing Subcommittee Chairwoman Maxine Waters,...
Oregon Weighs In On Insurance Legislation
Jul 6 2009 // The Oregon Legislature adjourned the 2009 legislative session ended with a mixed bag of results on insurance issues, according to the American Insurance Association (AIA). “A number of costly and unnecessary bills...
Commissioner Directs California Insurers To Divest Iranian Government Holdings
Jun 30 2009 // California Insurance Commissioner Steve Poizner announced that he will launch an effort to probe insurance company investments for ties to Iran and immediately direct California-based insurance companies to divest any...
Louisiana Passes Workers’ Comp Medical Treatment Bill
Jun 26 2009 // The Louisiana Legislature passed SB 303, workers’ compensation medical treatment legislation, just before it adjourned on June 25. According to the American Insurance Association (AIA), SB 303 requires that medical...
