Liberty Mutual Mining Fund Investing $39.4M in Alderon Iron Ore
Posted by The PIPEs Report on January 17, 2012
Liberty Metals & Mining Holdings, an investment fund managed by insurance giant Liberty Mutual G…
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AIA sizes up bid for $6 billion ING Asia insurance unit: source
Posted by Reuters: Business News on
HONG KONG (Reuters) – AIA Group Ltd , Asia’s No.3 insurer and about one-third owned by American International Group Inc , may bid for the $6 billion Asian insurance operations of ING Groep , sources said, with the prospective sale expected to draw heavy interest from rivals.
FDIC Sells $101M Bank Loan Portfolio
Posted by The Distressed Debt Report on January 12, 2012
The Federal Deposit Insurance Corp. said it sold a 25% equity stake in a portfolio of bank loans tot…
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BofA and others being probed over home insurance: source
Posted by Reuters: Business News on January 11, 2012
NEW YORK (Reuters) – The New York state’s financial regulator is probing several large banks, including Bank of America Corp and Citigroup Inc, on whether they overcharged customers on force-place insurance, a source familiar with the matter said.
Heungkuk, Goldman to arbitrate dispute
Posted by Reuters: Business News on December 21, 2011
(Reuters) – Heungkuk Life Insurance Co has withdrawn a $47 million lawsuit against Goldman Sachs & Co over the Timberwolf collateralized debt obligation (CDO) and will arbitrate the case instead.
Morgan Stanley settles with MBIA, sets $1.8 billion charge
Posted by Reuters: Business News on December 13, 2011
(Reuters) – Morgan Stanley agreed to give up insurance claims against MBIA Inc in exchange for a $1.1 billion payment from the ailing insurer, ending a two-year legal fight over guarantees on mortgage bonds.
Analysis: Foreign insurers miss the China party
Posted by Reuters: Business News on December 7, 2011
SHANGHAI (Reuters) – Ten years ago, foreign insurers were lining up to celebrate China’s entry into the World Trade Organization, eager to tap what was certain to become the world’s next big insurance frontier.
Top shareholder cuts stake in Japan’s disgraced Olympus
Posted by Reuters: Business News on November 16, 2011
(Reuters) – Olympus Corp’s biggest shareholder, Nippon Life Insurance, has reduced its stake in the 92-year-old Japanese firm which is now battling to keep the support of its lenders and survive a massive accounting scandal.
Analysis: Asia’s policy dilemma: Pause or pre-emptive strike?
Posted by Reuters: Business News on November 7, 2011
(Reuters) – Asia’s central bankers have two main choices for coping with Europe’s debt crisis: Wait it out and hope for a safe resolution, or take out an insurance policy in the form of an interest rate cut.
Allied Home Mortgage sued for lending fraud
Posted by Reuters: Business News on November 1, 2011
NEW YORK (Reuters) – Prosecutors sued Allied Home Mortgage Capital Corp and two top executives for at least $2.5 billion, accusing the company of fraudulently misleading the government into believing its risky loans qualified for federal insurance.
