News

The Co-operative Bank's disgraced former chairman, Paul Flowers, apparently won the job because he beat his rivals' psychometric test scores, MPs on the Treasury Committee have been told.

The businesss on...Mark Tucker, Chief Executive, AIA

So he's back! Think Prudential boss Tidjane Thiam is worried?

If he's not worried, he's in for some trouble. AIA – the business Mr Thiam tried and failed to buy – yesterday made its debut on the Hong Kong Stock Exchange with Mr Tucker as its chairman and chief executive. Hong Kong's biggest float, it couldn't have gone much better with the shares rising sharply in value. Mr Tucker, in other words, has started with a bang.

Business Diary: It's time to buy more gold, fool

The people behind Bloomberg TV are calm, sensible folk, just as you'd expect the management of a cable channel dedicated to finance to be. Still, one of the channel's bookers clearly has a sense of humour – and had a smart idea yesterday for a guest to discuss the ongoing gold price surge.

Former FSA head joins Pru's board

The former chairman of the Financial Services Authority, Sir Howard Davies, has joined the board of Prudential.

Fund managers consider flotation on London market

The London Stock Exchange could be poised for at least two major fund management flotations as insurers consider partial sales of their asset management arms.

Don't short-change your loved ones by choosing the wrong annuity

Some pension options could leave spouses in trouble

AIG kicks off sale of Asian unit

American International Group will hold at least a 30 per cent stake in its Asian life insurance business, AIA Group Ltd, for a year after AIA's listing in Hong Kong next month.

AIA sees $2bn profit before IPO

AIA, the Asian unit of US insurance giant AIG, is likely to return profits of $2bn this year, just months after its proposed takeover by Prudential collapsed.

Couples reveal disturbing lack of knowledge of partners' finances

Nearly a third of people in long-term relationships say they have no idea of their partners' finances, according to a survey from insurer Prudential.

Investment Column: Insurance is where the action is to be found

It has been a lively old time for Britain's insurance industry in the last few months. Prudential was forced to scrap its blockbuster deal to buy the AIA Asian business in June. Clive Cowdery's Resolution buyout vehicle then followed last year's acquisition of Friends Provident with a £2.75bn deal for Axa's UK life business.

David Prosser: The reprieve for Messrs Thiam and McGrath may only be temporary

Outlook Better than expected financial performance, a dividend hike and a reduction in the bill for the aborted purchase of AIG's Asian assets. Surely Prudential's management have done enough to silence those investors who have been calling for their heads since the humiliating failure to seal the AIG deal?

Prudential asks investors to forget AIA debacle after strong first-half results

Prudential yesterday moved to draw a line under its disastrous attempt to buy its Asian rival AIA earlier this year as it revealed forecast-beating first-half profits.

Prudential shareholders expect 5% rise in dividend

Prudential shareholders could pocket a 5 per cent increase in their dividend payout on Thursday when the insurer reports its half-year results.

AIG: the greatest recovery of all time?

Two years after the $180bn bailout of AIG marked the high water mark of the credit crisis, the insurer is clawing its way back, reports Stephen Foley

Mark Tucker set to be named new chief executive of AIA

Mark Tucker is set to be appointed as the new chief executive of AIA, the Asian arm of US insurance giant AIG.

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