Warren Buffett could acquire some AIG units
Billionaire investor Warren Buffett has said in a statement that he is considering acquiring some of the units of AIG.
Warren Buffett is the owner of the Berkshire Hathaway Inc insurance and investment company.
AIG is in the process of being bailed out of bankruptcy by the US government.
Buffett said [...]
Bank of Baroda to offer Life Insurance
Mumbai-based Bank of Baroda has announced that they would soon start offering Life Insurance solutions to their customers.
BoB has announced a joint venture they are setting up with two other nationalized banks Punjab National Bank and Andhra Bank.
Anil K Khandelwal, chairman and managing director of BoB said: “BoB will [...]
Aviva to move 5,000 BPO jobs to India
British insurance company Aviva has plans to move as many as 5,000 of its third party BPO vendor staff to their Indian operations.
The company already has an Indian subsidiary in the form of Aviva Global Services (AGS).
Aviva added that they have already transferred 1,600 employees from Aviva-24/7 [...]
Sasol might bring in huge investments in Indian market
South African company Sasol specializes in converting coal and gas to diesel and they are rumored to be considering investing heavily in the Indian market.
Sources claim that the company is considering investing $6 billion on manufacturing alternative fuels in the Indian market.
In fact, the Investment Commission [...]
Zurich Financial Services AG might cut jobs in German division
Zurich Financial Services AG is the largest insurer in the Swiss market and the company is now said to be considering cutting as many as 1,000 jobs at its German unit.
This would see the company eliminate 17.5 percent of the workforce as they plan to cut [...]
Allianz to cut jobs as they aim to boost earnings
Allianz (ALVG.DE) has said that they plan to cut as many as 7,500 jobs of its global workforce. The aim is to boost earnings in the longer run as the company is going through a massive restructuring process.
As many as 5,000 jobs would be cut at [...]
TATA AIG reports improved income
Tata AIG is one of the many private insurance operators in the country and they have just come out with their revenue results.
The company has posted a 77% increase in its total premium income at Rs 880 crore for FY06. This is an impressive improvement against Rs 497 crore in FY05. [...]
Royal & Sun Alliance Insurance Group to cut 1,550 Jobs
Royal & Sun Alliance Insurance Group Plc is the second biggest non-life insurer in Britain and they have announced their decision to cut as many as 1,550 jobs, or about 6.1 percent of its workforce.
The aim is to cut costs and reduce overheads over the next [...]
General Electric might sell its UK life insurance
The financial times has reported that the General Electric is in talks with South African insurer Sanlam for a possible deal to sell its UK life insurance unit.
This deal if conducted could be worth up to a massive 500 million pounds ($891.1 million).
FT however has not [...]
Lloyd’s of London posts losses due to Hurricanes in the U.S.
Lloyd’s has posted its first loss in last couple of years due to the worst hurricane season on record. These hurricanes caused huge damage to oilrigs, ships, and towns along the U.S. Gulf Coast last year.
As per the company statement, the pretax loss was 103 [...]
