AIG tries to allay subprime worries - Published:07/12/07
All occasions are London occasion Search News in the FTcom siteSearchSearch Quotes in the FTcom siteQuotesCOMPANIES Financial servicesBreadcrumb follow navigation:FT Home > Companies > By sector > Financial servicesServicesThe leader decision-making of American International Group sought on Wednesday to reassure investors about the world’s biggest insurer’s contact to the US housing market in spite of captivating another $600m writedownMartin Sullivan told investors at a appearance: “AIG’s exposure levels are manageable, given our size, monetary strength and global diversification”However, the insurer admitted it could countenance a total writedown of about $1bn for unrealised losses in its credit default swap collection for October and NovemberAIG supposed last month that it faced a writedown of about $550m through to the finish of October It said on Wednesday that it could take another $500m-$600m pre-tax writedown for the period from the finish of OctoberIn spite of the view of further charges, shares in AIG rose almost 6 per cent to $5875 in near the beginning tradeConcerns about the insurer’s exposure to the collapse of the US subprime mortgage market have weighed on its shares in recent weeksHowever, Mr Sullivan supposed that AIG was confident of all the market principles to which it had ascribed its investments, as well as “the reliability of our valuations, and the reasonableness of our methodologies”AIG, he said, was improbable to sustain an financial loss in its financial products division, which offers credit default swapsIn addition, AIG had the aptitude to hold devalued investments until revival, Mr Sullivan saidAIG’s presentation comes amid increasing concern about insurers’ exposure to the subprime mortgage disaster Zurich monetary Services will attempt to reassure investors on ThursdayMeanwhile, Mr Sullivan faces activist investor force from Maurice “Hank” Greenberg, the former chairman and chief decision-making pushing for changes to the management and structureCopyright The Financial era Limited 2007Bush to unveil mortgage plan - Dec-06Cool response for shrub subprime plan - Dec-06Lex: Subprime securities - Dec-05Mortgage loss alert sparks drop for MBIA - Dec-05Lex: MBIA’s capital deficit - Dec-05US jobs account eases slowdown fears - Dec-05More from this sectorMaverick China Payment Profiles: 99Bill, Hot Out of the Gates, but Sustainable Maverick porcelain Research12/3/2007$1000Maverick porcelain Payment Profiles: porcelainpay, Providing Online Payment Solutions for Chinese Banks nonconformist China Research12/3/2007$1000BlogsBrussels BlogCharles PretzlikClive CrookDear LucyEconomists’ ForumEnergy FilterJohn GapperGideon RachmanTech BlogThe Undercover EconomistWestminster BlogWillem Buiter’s MavereconRegional pagesLatin American agendaChinaIndiaBrusselsInteractivePodcastsDebates & pollsAsk the expertMarkets Q&AJobs and classifiedsBusiness for saleContracts & tendersJobs Search kind your search criteria below:* smallest amount delay 15 minutesAll times are London timeFT HomeSite mapContact usHelpAdvertise with the FTMedia centreStudent offersFT ConferencesFT SyndicationCorporate subscriptionsFT GroupPartner sites: Chinese FTcomLes EchosFT DeutschlandExpansionInvestors ChronicleExec-Appointmentscom© Copyright The Financial era Ltd 2007 "FT" and "Financial era" are trademarks of.
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Aig Tries To Allay Subprime Worries >>
New Zurich Guaranteed Capital Account launched - Published:07/02/07
The initial Zurich Guaranteed assets Account 11 - part of a series - has been launched by the financial armed forces providerZurich intends to keep these products unlock for a limited time frame and in arrange to ensure that they remain available throughout 2007, once one manufactured goods tranche comes to an end, another will beginEach of these products have a word lasting five-and-a-half years and as well as contribution full capital security, their rate of return is linked with the presentation of the FTSE 100 IndexPaul Wright, Zurich's investment management manager, stated: "Previous tranches of these products have proved extremely well-liked with clientele and advisers, so we decided to make them obtainable throughout the year"The key reason behind the popularity of these products has been credited by Mr Wright to the fact that they provide assets securityThis year's range starts with the Zurich certain Capital Account 11, open until March 2nd, and this product offers the client a return of 135.
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New Zurich Guaranteed Capital Account Launched >>
Zurich Guaranteed Capital Account launched - Published:11/11/06
Zurich's Guaranteed assets Account has been introduced and has been tailored to meet the needs of mediators who are looking to provide their customers with a secure investmentDesigned for the careful investor, the Zurich Guaranteed Capital Account provides 130 per cent of enlargement in the FTSE 100 Index to customers and the word of the account is five-and-a-half yearsThe account is guaranteed to safeguard the first investment which can be anything from a minimum of £2,500 up to a maximum £250,000 investmentPaul Wright, Zurich's investment management manager, explained: "Our previous guaranteed accounts have proved extremely popular, the last version captivating over £20 million in asset""Intermediaries and their clients appreciate the benefits of an investment that offers both security and store market linked returns near the beginning indications suggest that this latest version will continue this trend," Mr Wright concludedZurich are offering clientele who be relevant for an account before November 15th a 033 per cent 'early chicken' bonus and all applications must be.
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Zurich Guaranteed Capital Account Launched >>
