Insurance survey 2009: Insurers take cover to avoid capital crunch
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“The attack on our people and our business has been unprecedented. I have never seen anything like it” Nicholas Walsh, AIU |
LAST MONTH THE US government was forced into a debt-for-equity swap on its bail-out loans to AIG, reducing outstanding balances on its $60 billion credit line by up to $26 billion in exchange for preferred shares in new holding companies for the troubled company’s US and foreign life insurance operations.
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