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American International Group Inc (AIG)

AIG on New York Consolidated

64.22USD
5 Dec 2016
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Latest Key Developments (Source: Significant Developments)

AIG, Two Sigma and Hamilton Insurance Group launch Attune
Wednesday, 28 Sep 2016 08:13am EDT 

American International Group Inc : AIG, Two Sigma and Hamilton Insurance Group launch Attune - a data-enabled insurance platform serving small businesses .Terms of deal were not disclosed.  Full Article

Fitch affirms AIG's ratings outlook stable
Monday, 29 Aug 2016 05:11pm EDT 

Fitch :Fitch affirms AIG's ratings; outlook stable.  Full Article

AIG in talks to sell Lloyd's insurance operations to Canada Pension Fund- WSJ
Tuesday, 23 Aug 2016 01:21pm EDT 

: AIG in talks to sell Lloyd's insurance operations to Canada Pension Fund- WSJ, citing sources . Canada Pension Plan is in talks to acquire AIG's business at Lloyd's of London, related reinsurance company based in Bermuda- WSJ, citing sources . AIG-Llyod's transaction, if completed, could fetch insurance conglomerate hundreds of millions of dollars in proceeds- WSJ, citing sources Source (http://on.wsj.com/2bLw85R) ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Fitch: AIG ratings unaffected by UGC proposed sale announcement
Tuesday, 16 Aug 2016 12:07pm EDT 

Fitch On AIG : Fitch: AIG ratings unaffected by UGC proposed sale announcement . Fitch On AIG - Transaction will advance AIG's execution of strategic plans to streamline operations .Fitch On AIG - AIG will have a continued exposure to mortgage insurance market through investment in Arch.  Full Article

Arch Capital enters into bridge credit agreement with Credit Suisse AG, Cayman Islands branch, as administrative agent, initial lender
Tuesday, 16 Aug 2016 09:46am EDT 

Arch Capital Group : Plans to use net proceeds from bridge credit to pay cash consideration and fees of acquisition of AIG's mortgage-insurance unit . Entered into bridge credit agreement with Credit Suisse AG, Cayman Islands branch, as administrative agent and initial lender .Bridge credit agreement provides for commitments by the lenders thereunder to provide up to $1.375 billion of term loans.  Full Article

AIG to be paid a fee of $150 mln by Arch Capital Group as per termination provisions under stock purchase agreement
Tuesday, 16 Aug 2016 07:45am EDT 

American International Group Inc :As per termination provisions under stock purchase agreement with Arch Capital Group, Arch has agreed to pay AIG a fee of $150 million.  Full Article

AIG to sell United Guaranty Corp to Arch Capital for $3.4 bln
Monday, 15 Aug 2016 04:31pm EDT 

American International Group Inc : Total consideration consisting of $2.2 billion of cash, $250 million of newly issued arch perpetual preferred stock . In lieu of receiving perpetual preferred stock, AIG may elect to receive up to $250 million in pre-closing dividends . Total consideration also consisting of $975 million of newly issued arch convertible non-voting common-equivalent preferred stock . Has agreed to enter into an investor rights agreement with Arch . AIG says co will retain all mortgage insurance business ceded under an existing 50% quota share agreement between UGC and AIG subsidiaries . AIG agrees to sell United Guaranty Corporation to Arch Capital Group for $3.4 billion .Investor rights agreement with arch to provide customary registration rights following a lock-up period.  Full Article

AIG close to selling mortgage-insurance unit to Arch Capital for about $3.4 bln - source
Monday, 15 Aug 2016 03:19pm EDT 

: American International Group Inc close to selling mortgage-insurance unit to Arch Capital for about $3.4 billion - source Further company coverage: [AIG.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

AIG nears $3.4 bln deal to sell mortgage-insurance unit to Arch Capital- CNBC, citing dow jones
Monday, 15 Aug 2016 01:06pm EDT 

:Aig nears deal to sell mortgage insurance unit to arch capital group for about $3.4b - CNBC, citing Dow Jones.  Full Article

AIG says it may be some time before requirements associated with Brexit are known - Conf Call
Wednesday, 3 Aug 2016 09:09am EDT 

American International Group Inc : Says in case of Brexit, we believe we're well positioned given branch structure . Says it may be some time before the requirements associated with Brexit are known and any potential economic impact from Brexit materializes . Says for our annuity businesses we expect the primary impact to be be a decline in volumes . Says we will continue to be very thoughtful about the property business we do write . Says expect that 2017 premiums overall will not significantly grow from the level we close out at the end of 2016 Further company coverage: [AIG.N] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

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AIG joins list of finance firms looking at moving some UK operations

LONDON U.S. insurer AIG may move its European headquarters from London to another European Union country because of Britain's vote to leave the EU, the head of the AIG's European and UK operations said at an industry conference on Tuesday.