Insurance News
Brief insurance news and digest for the busy executives. A handy insurance news archive with main focus on Malaysia. Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we will not be liable for any loss arising from the use of any information contained in this blog. You may reproduce materials published here provided the source (news.actuaries.com.my) is properly acknowledged.
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Wednesday, 8 October 2008
What Went Wrong with AIG?
Interesting findings from the probe into AIG's saga so far:- AIG's executives were sent on a $440,000 retreat to posh California resort, less than a week after the federal government bailed out the Group
- AIG executives hid the full range of its risky financial products from auditors as losses mounted
On what went wrong, you will hear Greenberg blaming his successors, and his successors in turn blaming mark-to-market accounting rules. Read for yourself the following 2 news articles which are similar, I think good risk management lessons can be learnt from there.
Labels: AIA/AIG, Risk Management
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
Previous Posts
- Impact on Malaysia Insurance Industry
- MAA may be Taken Private
- AIA's Next Generation Strategy
- TM Asia's Plan for Branches
- Fortis Insurance is still 100% Owned by Group
- Kurnia's RM400 mil Capital Injection
- Philamlife will be Sold
- Impairment on Ping An's Books
- Minority Shareholders for AIA
- AIG to Sell 3 Life Businesses in Japan
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