Yesterday ( March 1 ) United Kingdom' s Prudential PLC buy AIG' s Asia unit for about $ 35, 5 billion. This deal call for Prudential to pay government $ 25 billion in cash, $ 8, 5 billion in equity and $ 2 billion in preferred stock AIA' s unit ( American International Assurance Ltd. ).
The US government bailouts for AIG totaling $ 182, 3 billion, AIG is working to repay about $ 97 billion, $ 50 billion would go to the Federal Reserve Bank of New York and $ 47 billion to the Treasury Department. An additional $ 33 billion is to be paid off from AIG related mortgage assets.
AIG is insurance and financial services company and plans to keep a global property and casualty insurance businesses called Chartis, and its domestic life insurance and retirement services business, recently rebranded as SunAmerica Financial Group said Under Chief Executive Robert Benmosche.
Tuesday, March 2, 2010
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