I thought Chartis was supposed to have its out separate IPO, and it was supposed to separate from AIG.
I guess the insurance operations are not as strong as people thought they would be. The company has divested itself of some of its key assets at garage sale prices (HSB, Transatlantic Re,etc), it has lost some of its best personnel to other insurance entities, and the company’s combined ratio continues to be above 100.
If Chartis were ever to have a separate IPO, traders and investors would be lining up to short the stock.
Chartis, AIG , or the Big Banana, what difference does it make?
They are all crony capitalism entities that derive their very existence from the US taxpayer. They are part of the too big to fail gang, which means they should be too big to exist.
Does anyone think that AIG/Chartis could stand on its own for one minute without the Federal backstop? How quickly do you think the hedge funds would sell their AIG holdings?
All of their producers and most of their insureds still knew they are one and the same. They thought they fool the public – AIG thought by renaming their insurance operations to Chartis the public wouldn’t associate Chartis with AIG. What was AIG thinking? Did they think the public was that stupid – apparently so!!
Might as well. We all say AIG anyway.
According to a report from Bloomberg, Benmosche said “We are considering being just AIG, being proud of what we’ve accomplished.”
The largest bailout in the history of the planet.
I thought Chartis was supposed to have its out separate IPO, and it was supposed to separate from AIG.
I guess the insurance operations are not as strong as people thought they would be. The company has divested itself of some of its key assets at garage sale prices (HSB, Transatlantic Re,etc), it has lost some of its best personnel to other insurance entities, and the company’s combined ratio continues to be above 100.
If Chartis were ever to have a separate IPO, traders and investors would be lining up to short the stock.
Chartis, AIG , or the Big Banana, what difference does it make?
They are all crony capitalism entities that derive their very existence from the US taxpayer. They are part of the too big to fail gang, which means they should be too big to exist.
Does anyone think that AIG/Chartis could stand on its own for one minute without the Federal backstop? How quickly do you think the hedge funds would sell their AIG holdings?
What do you know about AIG, do you have a crystal ball? I’m sure you are the type of abusive lazy traders who lost their pants betting on “easy money”
All of their producers and most of their insureds still knew they are one and the same. They thought they fool the public – AIG thought by renaming their insurance operations to Chartis the public wouldn’t associate Chartis with AIG. What was AIG thinking? Did they think the public was that stupid – apparently so!!
They obviously believe that the public was stupid enough to elect politicians to give them a $182 billion bailout.
LOL! And we did!