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My understanding from listening to some dude on Sky last night is that likes of the Lehman's Investment Bank collapsing is bad new for insurance companies. Insurance companies take our premiums and try and make money out of that money through stocks/shares etc. The turmoil of the markets mean they are loosing money on those investments and now with the huge numbers of claims on the way in the aftermath of Hurricane Ike etc they will be out of pocket and facing collapse.
AIG as one of the biggest insurers worldwide is reported to be in dire straits.
I usually find the business world quite dull but it is having a huge impact on the sporting world at the mo.
At least we will all turn to drink when our pensions are lost.. Good for our sponsors Carlsberg
Meanwhile, there were fears that AIG, one of the world's largest insurers, could also face collapse.
The State of New York announced a "multi-billion dollar financing plan" on Monday to stabilise the insurer's finances.
The State of New York announced a "multi-billion dollar financing plan" on Monday to stabilise the insurer's finances.
AIG as one of the biggest insurers worldwide is reported to be in dire straits.
I usually find the business world quite dull but it is having a huge impact on the sporting world at the mo.
At least we will all turn to drink when our pensions are lost.. Good for our sponsors Carlsberg