Posts Tagged ‘Report’
AIG puts Chartis spinoff on hold: Report
December 21st, 2009
In a report Tuesday, Bloomberg, citing people familiar with the situation, reported that AIG Chief Executive Officer Robert Benmosche has signaled that he wants to hold on to the unit, telling employees he considers Chartis a core holding.
A spokesman for AIG declined to comment on AIG’s plans for Chartis.
Chartis, formerly known as AIU Holdings, was formed earlier this year through the combination of AIG’s domestic and foreign property/casualty insurance businesses. AIG’s previous CEO, Edward Liddy, had announced in April that the insurer was accelerating the separation of the unit to prepare for a sale or public offering of a minority stake, although no date had been set.
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Climate change could risk trillions in U.S. assets: Report
November 22nd, 2009
The joint report, released by German insurer Allianz S.E. and the World Wildlife Fund, said the planet’s atmosphere is close to dangerous temperature thresholds, or “tipping points,” that could cause devastating environmental and economic consequences.
According to the report, a sea level rise of 20 inches by 2050, as predicted by climate scientists, could jeopardize roughly $7.4 trillion of U.S. assets. About $1.4 trillion worth of U.S. coastal-area assets are at risk due to storm surge from a one-in-100-year event, the report said.
The report ranked Miami, New York, New Orleans and Boston among the U.S. cities with the greatest asset exposure by mid-century due to global warming effects.
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