American International Group, Inc. (AIG) Financial News - TD Credit-Card Deal Caps $20 Billion in Canada Bank Purchases
American International Group, Inc. (AIG)
TD Credit-Card Deal Caps $20 Billion in Canada Bank Purchases
2011-08-16 01:04:01
Quote: “We think of credit cards as being part of a very
important and growing part of the payments business.â€
American International Group Inc. (AIG)Ontario Teachers’ Pension Plan, and in 2009 sold its Canadian
life insurance unit to Bank of Montreal for C$375 million.
CIT Group Inc. (CIT)
U.S. Expansion
Intact Financial Corp., the country’s largest property and
casualty insurer, agreed in May to buy the Canadian unit of AXA
SA for C$2.6 billion.
CanadaNew England and the New York area.
Bob Deckermoney manager at
Aurion Capital Management in Toronto, said in a telephone
interview. “They’re taking advantage of tuck-under acquisitions
concentrated in their core areas, like the Midwest for Bank of
Montreal and Northeast for TD.â€
JPMorgan Chase & Co. (JPM) for
$848 million to expand its asset-management business.
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American International Group, Inc. Stock Summary
American International Group, Inc., through its subsidiaries, provides insurance and financial services in the United States and internationally. It operates in four segments: General Insurance, Life Insurance and Retirement Services, Financial Services, and Asset Management. The General Insurance segment underwrites various business insurance products, including large commercial or industrial property insurance, excess liability, inland marine, environmental, workers? compensation, and excess and umbrella coverages. It also offers various specialized forms of insurance, such as aviation, accident and health, equipment breakdown, directors and officers liability, difference-in-conditions, kidnap-ransom, export credit and political risk, and professional errors and omissions coverages. In addition, this segment provides property and casualty reinsurance products to insurers; automobile insurance products; residential mortgage guaranty insurance products; and commercial and consumer lines of insurance products. The Life Insurance and Retirement Services segment offers individual and group life, payout annuities, endowment, and accident and health policies, as well as retirement savings products consisting of fixed and variable annuities. The Financial Services segment provides commercial aircraft and equipment leasing, capital market operations, consumer finance, and insurance premium financing. The Asset Management segment offers investment-related services and investment products to individuals, pension funds, and institutions. The company was founded in 1967 and is based in New York, New York.
