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Asset Sales

AIG in talks with Metlife to sell Alico

AIG is in talks with MetLife Inc. to sell one of its largest insurance units for between $14 billion and $15 billion, according to news reports citing people familiar with the matter. The two companies have been in discussions for months about a potential deal for AIG’s American Life Insurance Co., known as Alico, the Wall Street Journal and New York Times reported. Alico is an international life and health insurance business that operates in more than 50 countries around the world. AIG was bailed out by the government in September 2008 at... 


ING completed sale of its Swiss Private Banking business

ING announced today that it has completed the sale of its Swiss Private Banking business to Julius Baer, the leading pure-play Swiss Private Banking group. As announced on 7 October 2009, the divestment is in line with ING’s Back to Basics strategy to focus on fewer franchises and reduce the complexity of the group. The transaction will generate an estimated net profit for ING of approximately EUR 150 million. ING Private Banking in the Benelux and Central Eastern Europe remain part of the core business of the Bank.  Read More →

US: Prudential Financial completes sale of minority interest in joint venture

Prudential Financial, today announced that it has completed the sale of its minority joint venture interest in Wachovia Securities Financial Holdings, LLC, which includes Wells Fargo Advisors (formerly Wachovia Securities) to Wells Fargo & Company. At the closing, Prudential received $4.5 billion in cash. In addition, Prudential received $418.4 million in payment of the principal and accrued interest on a subordinated promissory note that Wachovia Securities had issued in connection with the establishment of the joint venture.  Read More →

ING completes sale of US reinsurance unit

Dutch bank and insurance group ING said  on Tuesday it had completed the sale of its US reinsurance business to Reinsurance Group of America for an undisclosed amount. The transaction was expected to free up some 100 million euros (144 million dollars) in capital in 2010 and improve ING Insurance’s debt-to-equity ratio by about 60 basis points, it said in a statement. “ING announced today that it has closed the transaction to transfer its US group reinsurance business, ING Reinsurance US, to Reinsurance Group of America, Inc (RGA),”...  Lire la suite

ING to sell 50% Pacific Antai Life Insurance stake to China Construction Bank

ING will sell its 50% stake in one of its two insurance joint ventures in China to China Construction Bank Corp, the two companies said Tuesday. ING said the deal will allow it to exit from Pacific Antai Life Insurance Co., its 50-50 joint venture with China Pacific Insurance (Group) Co. The Dutch financial conglomerate said it will maintain its 50-50 joint venture with Beijing Capital Group Co., Dalian-based ING Capital Life. ING said the deal is subject to regulatory approval and should be completed in the second half of 2010. China Construction...  Lire la suite

ING closes sale of Australian and New Zealand Insurance business

ING announced today that it has closed the sale of its life insurance and wealth management venture in Australia and New Zealand to ANZ, its joint venture partner. As announced on 25 September, the divestment is part of ING’s Back to Basics strategy to simplify the organisation by focusing on fewer, strong franchises that form a coherent group. Under the terms of the agreement, ING sold its 51% equity stakes in ING Australia and ING New Zealand to ANZ, who now has become the sole owner of these businesses. In line with the announcement of...  Lire la suite

Willis Group Announces Definitive Agreement with Family Shareholders And Astorg Partners to Reorganize the Capital of Gras Savoye
Fortis may not have enough capital to afford RBSI
Hub International acquires Mones & Associates Insurance brokers from AVIVA Canada
British bank RBS signals new asset sales
AXA will sell $1 billion stake in China’s Taikang Life Insurance
Qatar is selling £1.3 billion Barclays stake
AIG reports $1.4 billion loss net of tax on Nan Shan sale
Old Mutual’s UK subsidiary, Skandia UK Holdings has completed the sale of the Bankhall Group
ING to sell Asian Private Banking business to OCBC
AIG sells Taiwan unit to Primus Financial Holdings for £2.15 billion
AIG enters into agreement to sell Nan Shan to consotium led by Primus Financial
Fortis sells Luxembourg non-life activities to La Baloise for €23 million
Aviva completes the sale of Aviva Australia Holdings Ltd for £452 million
AIG enters into agreement to sell Asset Management business to Bridge Partners
AIG to announce the buyer of its Taiwan Nan Shan Life unit
Alltrust Insurance Company of China sells 15% stake to Fairfax for US$66 million
Aegon sold its Taiwanese life insurance business to Zhongwei for €65m
AIG to sell consumer finance operations in Hong Kong
Resolution Will Buy Friends Provident for $3 Billion
AIG close to unit sale for $300 mln-$400 mln-source
AIG completes sale of life insurance premium finance portfolio
AIG to complete sale of its consumer finance operation in Mexico
AIG to accelerate separation of ALICO
AIG in talk to sell its consumer finance operations in Colombia
AIG completes the sale of 21st Century Insurance to Zurich Financial Services Group Unit
Chaucer confirms stake sale with Pamplona Capital Management
Aviva – Incredible transaction of $925 million from sale of Australian life business
Barbon Insurance makes the acquisition of Zennor Ltd