AIG will spin off its major operations into independent companies in what CEO Edward Liddy calls “the most extensive corporate restructuring in American history.” The financial services conglomerate is “too big” to reposition as a single entity, and the company’s latest steps will maintain its core businesses as it works to strengthen its capital base […]
Under Dutch ownership, it carried the name of its financial giant parent. As a wholly-owned Canadian company, the former ING Insurance Company of Canada will be known as Intact Insurance, the new company announced this afternoon. The new name — its logo is a simple wordmark bracketed in red — is a step away from […]
Canada’s financial industry overseer is an effective regulator but could respond faster to market changes, according to a survey of financial services executives. Although the vast majority of respondents — 91% of executives from banks, trust companies and insurers — said the Office of the Superintendent of Financial Institutions (OSFI) is an effective monitor, that […]