Financial Business Review: AIG’s Potential Risk, Blackstone Partners With Anacap
American International Group (NYSE:AIG) reported on Tuesday has been notified by the Financial Stability Oversight Council, led by Treasury Secretary Timothy Geithner, that it might be designated as a potential risk to the financial system. The insurer is the first non-bank to acknowledge such a notification.
The Blackstone Group (NYSE:BX) is partnering with its competitor Anacap, says a source, as the companies expect to shell out almost $400 million on acquisitions. The former has been having difficulties making banking deals on the Continent, so this is a marked change in strategy.
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ING Groep (NYSE:ING) nears the divestiture of its Malaysian and Thai insurance businesses to AIA Group for approximately $1.8 billion, according to sources. AIA rose more than 2 percent on the news, as ING could be ridding itself of assets for less than their values, as it worries more about European Commission regulators than it does returns.
On Wednesday BlackRock (NYSE:BLK) initiated phase 3 of its 5-year branding campaign as it tries to expand by luring assets. This series of ads pushes investors to get out of cash and fixed income so as to put money in stocks and exchange-traded funds along with other income generators.
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