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AIG purchased the remaining 39% that it did not own of online auto insurance specialist 21st Century Insurance in 2007 for $749 million. [47] With the failure of the parent company and the continuing recession in late 2008, AIG rebranded its insurance unit to 21st Century Insurance. [48] [49]
AIG's AIU Insurance unit has run a P&C insurance in the country since 1946, and is now the largest foreign nonlife insurer with 14,000 agents nationwide. [3] In retail auto and L&H space, AIG owns American Home and Fuji Fire and Marine Insurance company. [4] Since Jan 2018 AIU and FFM business units merged in AIG Sonpo.
Ping An Insurance China: 937.0 5 China Life Insurance China: 900.5 6 Axa France: 846.3 7 Legal & General United Kingdom: 786.1 8 MetLife United States: 759.7 9 Nippon Life Japan: 725.0 10 Manulife Financial Canada: 718.1 11 Assicurazioni Generali Italy: 663.9 12 American International Group United States: 596.1 13 Life Insurance Corporation ...
On 21 December 2012, AIG sold all of its 13.69% shareholding in AIA. [ 11 ] Since 2 June 2013, AIA has had an exclusive bancassurance agreement with Citibank that encompasses 11 AIA markets in Asia-Pacific, namely Hong Kong, mainland China, South Korea, Singapore, Thailand, Malaysia, Indonesia, the Philippines, Vietnam, Australia, and India.
TransRe was formed as a facultative reinsurance division of AIG and wrote its first business on January 1, 1978. TransRe quickly expanded to other territories including Toronto in 1980, Europe (London) and Asia Pacific (Tokyo) in 1982 and Hong Kong in 1985. The company established the Latin America and Caribbean division in Miami, FL in 1993 and continued to expand globally with further ...
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Singapore’s government made a rare intervention in a merger deal, stepping in to block a controversial $1.7 billion deal by Germany’s Allianz to buy Income Insurance, a cooperative-turned ...
Tata AIG General Insurance Company Limited is an Indian general insurance company and a joint venture between the Tata Group and American International Group (AIG). [3] Tata Group holds a 51 percent stake in the insurance venture with AIG holding the balance of 49 percent.