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The case of five former insurance executives who were sentenced to jail for a sham finite reinsurance transaction heads to an appeals court Nov. 17. U.S. vs. Ronald Ferguson, et al, will be argued before the U.S. Court of Appeals for the Second Circuit in New York, said Tom Carson, a spokesman in the Connecticut’s [...]
Posts Tagged ‘AIG’
AIG, Gen Re Execs Convicted of Sham Finite Re Transaction Return to Court
Posted by gary on November 17th, 2010
Posted in Insurance News 
Tags: AIG, American International Group, American International Group Inc, Closed Doors, Elizabeth Monrad, False Statements, Finite Reinsurance, Garand, General Reinsurance Corp, Insurance Executives, International Group Inc, Jury Trial, Loss Portfolio, Loss Reserves, Mail Fraud, Reinsurance Operations, Ronald Ferguson, Securities And Exchange Commission, Securities Fraud, Tom Carson 
No Comments »AIG Edision Life Insurance to overhaul pay for sales staff
Posted by gary on August 27th, 2010
In a rare step for a life insurer, AMERICAN INTERNATIONAL GROUP INC’s Japanese subsidiary AIG EDISON life insurance CO. is changing how it compensates some of its legions of salespeople. In the life insurance business, large numbers of people are hired to sell policies with the understanding that large numbers will also quit, because the [...]
Prudential UK Fails to Convince AIG to Accept Less for AIA
Posted by gary on June 1st, 2010
U.K.-based Prudential plc confirmed that American International Group has turned down a revised acquisition proposal of AIA Group. Prudential had proposed a revised transaction price of US$30.375 billion, about 14.4% less than the original acquisition price of US$35.5 billion proposed in March. “The board of Prudential is considering its position,” said Prudential in a statement. [...]
