Genworth Financial completes $45M sales of Genworth Seguros Mexico to HDI-GerlingOctober 1st, 2009 Genworth Financial closes sale of Genworth SegurosNEW YORK — Genworth Financial Inc. said Thursday that it completed the $45 million sale of Genworth Seguros Mexico S.A.
Delta closes a total of $2.1 billion in loans, making progress toward 2010 debt paymentsSeptember 30th, 2009 Delta closes $2.1 billion in loansATLANTA — Delta Air Lines Inc. says it has closed on $2.1 billion worth of financing, which will help with the major debt payments it has due next year.
Incyte closes on public offering of 20.7M shares, sold for $6.75 eachSeptember 30th, 2009 Incyte closes on public offering of 20.7M sharesWILMINGTON, Del. — Incyte Corp., a drug discovery and development company, said Wednesday it has closed on a public offering of 20.7 million shares at $6.75 each.
Fed names 4 firms to reach out to investors in program to spur consumer, business lendingSeptember 1st, 2009 4 firms to help investors tap Fed lending planWASHINGTON — The Federal Reserve on Tuesday named four more financial firms to help investors tap a government program intended to spark lending at cheaper rates to consumers and businesses. The companies are: CastleOak Securities, Loop Capital, Wells Fargo Securities and Williams Capital Group.
American Airlines closes sale of $276M in senior secured notesAugust 3rd, 2009 American Airlines closes $276M private debt saleFORTH WORTH, Texas — AMR Corp., the parent company of American Airlines Inc., said Monday it has closed the sale of $276 million in senior secured notes. The notes are due 2016 and will yield 13 percent.
AIG closes $697.5M sale of life insurance premium finance portfolio as part of restructuringJuly 28th, 2009 AIG sells life insurance premium finance businessNEW YORK — Insurer American International Group Inc. said on Tuesday that it closed the sale of its life insurance premium finance business for $679.5 million in cash.
Chrysler Financial repays $1.5 billion in TARP loansJuly 14th, 2009 Chrysler Financial pays off $1.5B in TARP loansFARMINGTON HILLS, Mich. — Chrysler Financial, the former financing arm of automaker Chrysler LLC, said Tuesday that it has repaid in full its $1.5 billion in government loans.
Toys R Us subsidiary closes on offering of $950 million senior unsecured notes due 2017July 10th, 2009 Toys R Us subsidiary completes note offeringWAYNE, N.J. — Toys R Us Inc.
Genworth says Canadian mortgage insurance operations closes IPO, company to raise up to $730MJuly 7th, 2009 IPO for Genworth's Canadian operations closesRICHMOND, Va. — Genworth Financial Inc.
Treasury offers Chrysler lenders $1.5 billion plus 5 percent equity stake, says WSJApril 23rd, 2009 Report: Treasury makes offer to Chrysler lendersLOS ANGELES — The Treasury Department lobbed back a new offer to Chrysler LLC's lenders, proposing that banks and hedge funds which hold $6.9 billion in debt forgive $5.4 billion in exchange for a 5 percent stake in a Chrysler-Fiat alliance, media reports said late Wednesday. The new offer represents payment of 22 percent of the debt lenders are owed, according to a report by The Wall Street Journal.
US seeks dramatic expansion of financial regulatory powersMarch 26th, 2009 WASHINGTON - US President Barack Obama's administration, in a massive overhaul of the country's financial regulatory system, is seeking the power to keep watch on all types of financial firms and to seize failing companies integral to the health of the system. US Treasury Secretary Timothy Geithner unveiled the plans in congressional testimony on Thursday, arguing that the current financial turmoil has proven the system is 'too unstable and fragile' to be allowed to manage itself.
AIG sells Canadian operations for $375 millionJanuary 13th, 2009 TORONTO - Bank of Montreal (BMO) Tuesday announced it is buying Canadian business of the troubled global insurance giant American International Group (AIG). The bank said it is acquiring the AIG Life Insurance Company of Canada (AIG Life of Canada) for $375 million in cash.
Future Generali eyes Rs.10 bn premium income by 2010January 13th, 2009 KOLKATA - Future Generali, the joint venture with the Italian insurance giant Generali, is expecting to touch a premium income of about Rs.10 billion by 2010, a senior official said Wednesday. Future Generali is the insurance joint venture between Future Group of India and Italy-based Generali Group with a 74:26 stake.
Regulator eases solvency norms for life insurersJanuary 1st, 2009 CHENNAI - India's insurance watchdog Friday offered life insurers, and more particularly the private life insurers, a mega New Year gift by easing solvency norms for the third time in recent days. Solvency margin is the excess of assets that a life insurer has to maintain over its liabilities.
Over 1,700 insurance employees strike work in northeastDecember 22nd, 2008 AGARTALA - Over 1,700 insurance employees in the northeast went on strike Tuesday as part of a nationwide protest against the government's move to raise foreign direct investment (FDI) in the insurance sector. More than 1,700 insurance employees belonging to 22 branches of Life Insurance Corp of India (LIC) and the General Insurance Corp (GIC) in Tripura, Manipur, Mizoram and Assam took part in the strike, said Dipankar Chakraborty, a spokesman of the All India Insurance Employees Association (AIIEA).
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