Tuesday, March 2, 2010

Prudential buy AIG

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.

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