AIG still to decide on Philamlife’s fate
Philippine American Life and General Insurance Co. (Philamlife) is set to have its fate determined by as early as October 3 by its parent company, American International Group Inc. (AIG).
AIG’s current chairman and chief executive officer, Edward Liddy, announced that he was drafting a list to determine what assets will be sold to repay an $85-billion lifeline extended by the US government. He said he would make the list known within 10 days.
Liddy, however, said in the interview that he hopes to retain the commercial property and casualty business, as well as its Asian operations.
Philamlife is one of AIG’s oldest and more successful overseas investments and is the country’s biggest insurance firm.
Philamlife Chairman Jose L. Cuisia, Jr. did not rule out the possibility that asset disposals planned by AIG would include Philamlife. In any event, he stressed yesterday, Philamlife has the capability to meet its obligations.
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September 30th, 2008 at 11:36 pm
ohh dear…
September 30th, 2008 at 11:59 pm
Di naman kasi affected talaga ang insurance part ng AIG, kaya don’t panic mga pinoy
October 1st, 2008 at 9:21 pm
n shock tlaga ako s balita….but halos lahat ng naunang balita n katulad nito ay bumagsak..kawawa nmn mga tao kapag nagkataon…parang naghulog ng pera sa balon….isa n ako dun…..
October 11th, 2008 at 3:39 pm
all of this events are fake…US government just trying to manipulate na US economy to force the congress to release a 700 billion dollars as bailout for the ailing US banks but in truth it will be use for the preparation for the war against Russia….. wait and see because its coming closer than you think….