Insurance | May 16, 2008 |
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Banks Profit but Still Struggle With Insurance
By Laura Schreier
It was supposed to be the perfect union of two compatible industries: Banks wanted to find new ways to gain customers, insurance companies wanted new ways to push their products.
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Legal, Financial Troubles Plague AIG
May has brought a long list of troubles for American International Group, including $7.81 billion in net losses for the first quarter, public criticism from the former chief executive officer, a lawsuit, tax liability and rumors of a subsidiary looking to jump ship.
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