AIG In Talks With PICC, RLI’s Special Dividend: Financial Business Review

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American International Group (NYSE:AIG), along with China Life and others, are in talks with the PICC Group over becoming cornerstone investors in the latter’s Hong Kong IPO, which could be worth as much as $4 billion, said sources to the Thomson Reuters publication IFR Thursday. It was also reported that other potential cornerstone investors include the French reinsurance company Scor Ads (SCRYY.PK)  and the Chinese utility State Grid Corp.

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On Wednesday, the  board of directors of RLI Corp. (NYSE:RLI) declared an extraordinary cash dividend of $5 per share of common stock, which should come to an approximate total of $105 million, and represent a regular quarterly cash dividend of 32 cents per share. Both dividends are payable on December 20th to shareholders of record as of November 30th. Chairman & Chief Executive Jonathan E. Michael announced that the Board decided to return about $105 million to shareholders through a special dividend.

Capital One Financial Corp. (NYSE:COF) reports that 30-day delinquencies and charge-offs at its domestic credit-card business increased during October month-over-month from September, from 3.52 percent to 3.66 percent, according to a Securities and Exchange Commission filing. As for its international credit card division, the rate fell slightly from 4.92 percent in September to 4.83 percent, but auto-loan delinquencies increased from 6.12 percent to 6.47 percent during the period.

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