American International Group (AIG) to Provide Group Coverage in China
AIG received approval earlier this month to provide group insurance coverage to groups of 5 or more individuals in China’s top 3 markets. This status was upgraded on 5/26/06 to permit issuance of group coverage throughout China. AIG is the only foreign insurer in China that has not been required to “partner” with a domestic firm.
On 5/10 AIG reported 1st quarter of 2006, net income of $3.2 billion dollars. Earning of $1.22 per diluted share were down from the $1.45 per share ($3.8 billion) net income of Q1, 2005.
AIG shares jumped 0.92% to 61.47 by the close of Friday’s markets.
How to Marry a Billionaire?
Truth is, I don’t know how. I can tell you that the short list includes Albert von Turn und Taxis, a German prince of the tender age of 21; Stefan Quandt: the 39 year old heir to the BMW enterprise; and, the only female on the Forbes list, 51 year old Oprah Winfrey.
The Market for 5/21/2006
One need not be a stock market whiz to glean that the market took a beating over the past three weeks. The good news is that the market enjoyed a rebound for the past three trading sessions. The financial times pointed out that over the past week, even though commodities gave buyers pause for thought, overall, the market was viewed in a positive light. Bonds were somewhat pummeled by inflationary data in the USA, Japan and EEU.
I’m still down a few percent over four weeks ago but not by as much. I question though whether this is a real rally, or, in the words of Jacqueline Doherty at Barrons, just a dead-cat bounce?
Time will tell.
Introduction
My name is Eric Back. I’m a registered nurse, currently working on an MBA through Colorado State University. The CSU program is either part-time, evening or distance. Both groups work together as teams in given courses. The degree is 36 credits and may be completed in either 2 or 4 years. This blog is about business and business-related issues. If I digress into other areas please indulge me; if I’m off-base on a point please correct me. If I can answer a question please email me (ericback@gmail.com).
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