Weekly News Insurances May 30, 2011

The US Treasury has announced the elling of USD 5.8 billion worth of AIG shares. This is 15 % of the total participation the US government currently has in AIG since the bailout.

AIG has received a total of USD 180 billion from the US government. This first selling is the first move to exit its participation in AIG. Graeme Newman, Business Development Director at CFC Underwriting outlines for us the possible impact of the Sony data breach. In April, hackers stole information from up to 77 million network subscribers. This high profile incident shows how companies can be fragile when it comes to cyber criminality.

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