Archive for November 2008

AIG to Rebrand US Auto Insurance Unit to 21st Century Insurance, and Cut Jobs

Nov 26th, 2008 | Category: Insurance Today

American International Group, which has been bailed out by the US government, plans to remove AIG from the name of its US auto insurance unit,, and rebrand it as 21st Century Insurance in January 2009. The auto unit also plans to cut 6.6% of its workforce. According to media reports, Nicholas Ashooh, a spokesman […]

Insurance Mergers: Many Buys, Scarce Financing

Nov 26th, 2008 | Category: Insurance Today

It’s a commonly held truth about free-market capitalism that its potential to destroy some companies creates opportunities for others. While that may be true in the current financial crisis, the credit crunch has made it tough for the survivors to make hay out of such failures. That may well be the case in the insurance […]