AIA Group Ltd., the third-largest Asia-based insurer by market value, reported higher-than- expected 89 percent growth in net income last year, helped by market value gains in investments and product improvements.
Prudential Plc’s Tidjane Thiam tried and failed to expand in Asia by buying AIA Group Ltd. , his first test as chief executive officer. To succeed now, he will have to beat AIA’s new CEO and his ex-boss, Mark Tucker .
Mark Tucker , who was named head of American International Group Inc. ’s main Asia division, told staff that he plans to triple the unit’s value to $100 billion, according to a person with knowledge of his remarks.
AIA Group Ltd., the third-largest Asia-based insurer, agreed to buy ING Groep NV’s insurance business in Malaysia for about 1.3 billion euros ($1.7 billion) in its largest acquisition as a listed company.
American International Group Inc. ’s appointment of Mark Tucker as chief executive officer of its Asian unit shows AIG may eventually be planning a takeover bid of Prudential Plc ’s division in the region, analysts said.
American International Group Inc. , the insurer bailed out by the U.S. government, named Mark Tucker as chief executive officer of AIA Group Ltd. as it pushes ahead with plans for a Hong Kong initial public offering of its Asian life unit.
AIA Group Ltd., American International Group Inc.’s Asian division, has “little interest” in bidding for Prudential Plc’s East Asian assets, the Sunday Telegraph reported, citing Chief Executive Officer Mark Tucker.
American International Group Inc., the insurer that repaid a U.S. bailout, raised HK$50 billion ($6.45 billion) from the sale of its remaining stake in AIA Group Ltd., pricing shares in the top half of the range. The Asian company’s shares dropped the most in almost five months.
American International Group Inc. plans to appoint former Prudential Plc Chief Executive Officer Mark Tucker to replace Mark Wilson as head of the bailed-out insurer’s main Asia unit, two people with direct knowledge of the matter said.