AIG facing liquidity crisis!

**batangmahal** · February 18th, 2009 12:05 PM

Originally Posted by tidus1203

Yun pala may baho din pala na tinatago ang Philam

Ala Merrill Lynch and Bank of America scenarion

*joke*

hehehe. who knows? baka nga!

**jeDi13** · February 18th, 2009 12:45 PM

The effect may not be detrimental.. for now. But do you think that they can create income from PhilAm insurance business? I'm guessing the profit that they make out of banking and other services will just cover the losses that they'll have in operating PhilAm insurance. Trust has already been lost and that's one of the main things that clients are buying from insurance companies. Why buy insurance products of PhilAm if there are far better insurance companies here in the Philippines?

**tidus1203** · February 18th, 2009 12:57 PM

You're buying Philam for the existing accounts. Pero para sakin this industry is very very damaged... I don't see any substantial growth for this industry for many years to come. It might provide cash flow but I seriously doubt anyone is buying a gold mine here...

**uls** · February 18th, 2009 01:04 PM

kung ako, i would be after Philam's portfolio

the portfolio should contain billions of pesos worth of highly rated corporate bonds, govt bonds, maybe equities

**tidus1203** · February 18th, 2009 01:08 PM

Yeah but would you overpay for less risky assets like those? They might be less risk but there is no growth there?

**uls** · February 18th, 2009 01:15 PM

no i wouldnt overpay

i would underpay

yun nga lang, matatalo ako sa bidding hehe

**jeDi13** · February 18th, 2009 01:21 PM

then just don't participate at all.. ewan ko. tingnan natin kung anong mangyayari sa winning bidder hehe.. good luck sa kanila..

**batangmahal** · February 18th, 2009 05:39 PM

Originally Posted by tidus1203

You're buying Philam for the existing accounts. Pero para sakin this industry is very very damaged... I don't see any substantial growth for this industry for many years to come. It might provide cash flow but I seriously doubt anyone is buying a gold mine here...

insurance, per se, still serves its purpose of protecting families. what is unsure though is how the management of insurance companies deal with the money that is entrusted to them. i think we have enough rules to safeguard the insured public, and with the tight regulation of the Insurance Commission, there's a still a future for this industry.

**tidus1203** · February 18th, 2009 05:44 PM

Future in terms of survival sure but I don't see growth prospects that will get anyone excited with this industry so in the sense for the buyer of Philam is Philam a gold mine that I can make a lot of money on. I doubt it...

**Zeus** · February 23rd, 2009 11:59 PM

Philamlife bid deadline now on Wednesday

By Doris Dumlao
Philippine Daily Inquirer
First Posted 20:37:00 02/23/2009

The most serious suitors of the country’s biggest and most profitable insurer Philippine American Life and General Insurance Co. have been given until Wednesday to submit a final offer, industry sources said Monday.
The deadline, originally Feb. 23, was moved back to give bidders more leeway in finalizing their proposals, the sources said.
The bids are to be submitted directly to Deutsche Bank, mandated by Philamlife’s parent company American International Group (AIG) as its financial adviser on the disposal of its Philippine assets.
The remaining bidders include retail tycoon Henry Sy’s Banco de Oro Unibank, the Ayala group’s Bank of the Philippine Islands (BPI) and Toronto-based global insurance player Manulife Financial Corp.
Banco de Oro, now the country’s biggest bank, is expected to bid for Philamlife in partnership with Generali Pilipinas. It will have a 40-percent interest and Generali, 60 percent that will be shared by its parent company Generali Assuzaccione of Italy, Kuok group and Jerneh Asia Berhad.
BPI is expected to bid in partnership with British insurance giant Prudential Plc.
It was earlier reported that a floor price of P36 billion was set for AIG assets under Philamlife.
The Philamlife group earlier raised $48.5 million from the sale of its consumer finance

units bundled into AIG Philam Savings Bank to East West Bank.
Among the institutions earlier considered to be strong contenders in the Philamlife bidding were Metropolitan Bank and Trust Co. and Philamlife’s toughest rival in the Philippine market, Sun Life of Canada.
San Miguel Corp., Insular Life Assurance Co., Hong Kong-based First Pacific group, and the group of Roberto Ongpin, which has been active in buying stocks, are not participating in the bidding. With editing by INQUIRER.net

Kasali rin pala ang Manulife sa bidding e...sino kaya ang mananalo?