17/09/2008

AIG Nerve Wrecking News

Did anyone read about the financial crisis in the States yesterday? I got worried because I read that AIG nearly collapsed. It says that AIG has a day to raise up to 80 billion dollars to avoid bankruptcy.

In Singapore alone, the news reported that there was a crowd at the Central Business District and many of the policy holders were trying to get answers and there were those who wanted to surrender their policy in order to cut losses. It was in the news, big time.

This just happened a day after the news that Lehman Brothers had filed for bankruptcy protection and how Merrill Lynch was also sold.

I have insurance policies with AIA in Singapore and this is nerve wrecking indeed.

2 comments:

Umbrella Rec said...

I hope Great Eastern is not affected

Nancyew said...

Don't worry, Hoon. AIA is strong. They have over 90% of their investment here. I am an AIA member too.