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04.12.25 - 05:15
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China′s Real Estate Collapse Sends Local Debt To Record $18.9 Trillion (ZeroHedge)
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China's Real Estate Collapse Sends Local Debt To Record $18.9 Trillion
Almost 20 years ago, when the Lehman/AIG collapse and the ensuing global financial crisis sent the world into a brief but acute depression, it was China's massive debt-fueled growth dynamo that kick started the world economy and lifted the globe out of what would have been a lost decade - if not worse. The one trade off to this historic kickstart: China ended up doubling its total debt, which then continued growing at an exponential rate until the covid collapse sent China's property sector - the biggest asset of its massive middle class - into a tailspin, and sparked a historic economic crisis. Only this time, because its total debt was already at 350% of GDP, Beijing no longer could wave a magic debt wand, inject a few trillions in credit, and make it all go away. Instead, the housing market has been in steady decline for the past 5 years and if anything, the decline has accelerated now that China's Vanke - the last r...
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25.11.25 - 17:12
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AM Best Assigns Credit Ratings to American International Reinsurance Global, Ltd. (Business Wire)
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OLDWICK, N.J.--(BUSINESS WIRE)--#insurance--AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to American International Reinsurance Global, Ltd. (AIRG) (Bermuda), a subsidiary of American International Group, Inc. (AIG). The outlook assigned to these Credit Ratings (ratings) is positive.
The ratings of AIRG reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.
The ratings of AIRG also reflect the company's role as a reinsurer of affiliated international business, and the reinsurance, liquidity and other explicit and implicit support provided by other AIG entities. AIRG is expected to start assuming affiliated reinsurance in 2026. The positive outlooks are in line with the current outlook for AIG and its subsidiaries.
This press release relates to Credit Ratings that have been published on AM ...
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20.11.25 - 22:42
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Ex-Lloyd′s CEO Lost $17 Million AIG Job After Office Romance (Bloomberg)
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American International Group Inc.'s announcement last week that it was parting ways with incoming President John Neal stunned insurance industry observers and raised questions about what caused the veteran executive to lose a $17 million job before he'd even started....
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17.11.25 - 22:18
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Gary Haase to Join Everest as EVP, CEO of Legacy Operations (Business Wire)
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HAMILTON, Bermuda--(BUSINESS WIRE)--Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing world-class reinsurance and specialty insurance solutions, today announced the appointment of Gary Haase as Executive Vice President and CEO of Legacy Operations, effective December 1, 2025. He will report to Jim Williamson, Everest's President and CEO, and will join the Company's Executive Leadership Team.
The appointment follows Everest's recent $2B renewal rights sale of its commercial retail insurance business to AIG, a strategic step in refocusing the Company on its core, high-performing global businesses. Mr. Haase will lead the strategy and execution of Everest's legacy insurance portfolios, driving capital efficiency, operational discipline, and long-term value.
“Gary's broad and diverse experience — from actuarial and claims to M&A and technology transformation — makes him uniquely qualified for this role and an exceptional addition to our senior team,” said Jim Williamson. “H...
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