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Thread: All AIA insurance policy holders come in...

  1. #41
    Member/Tangshooter falconite's Avatar
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    Default Re: All AIA insurance policy holders come in...

    Check out ex NTUC Insurance CEO's remark on blog.. AIA Singapore is safe from beginning what?

    Now even AIG is safe... haaa.. okie lah Thread Close...

    Move on to British Banks' Woes now?.... Shall I withdraw all saving from foreign banks?
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  2. #42

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by falconite View Post
    Check out ex NTUC Insurance CEO's remark on blog.. AIA Singapore is safe from beginning what?

    Now even AIG is safe... haaa.. okie lah Thread Close...

    Move on to British Banks' Woes now?.... Shall I withdraw all saving from foreign banks?
    NTUC blogger news is probably good for buay chai aunties. If they say vegetables is healthy to eat, i honestly believe. If they comment on the financial markets and try to influence the readers, then one have to really read carefully.

    Reuters news is more trustworthy by any standard. It lets you feel the heartbeat of the real situation and is updated in a timely fashion.

    This is but the tip of the iceberg. I heard from a commentator that there might be more woes to come for AIG.

  3. #43
    Member/Tangshooter falconite's Avatar
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    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by contaxable View Post
    NTUC blogger news is probably good for buay chai aunties. If they say vegetables is healthy to eat, i honestly believe. If they comment on the financial markets and try to influence the readers, then one have to really read carefully.

    Reuters news is more trustworthy by any standard. It lets you feel the heartbeat of the real situation and is updated in a timely fashion.

    This is but the tip of the iceberg. I heard from a commentator that there might be more woes to come for AIG.
    True...

    But then again... If we discuss economic woes under the thread of AIA Insurance policy holders, it does paint un-necessaries worries onto them.
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  4. #44

    Default Re: All AIA insurance policy holders come in...

    i remember years back my dear friend wore a suit tie and sang praises to this company strength.. laid before him were sheets of pie charts and figures... and he claimed to be a top financial planner in the making... and he said he is aiming to be like a warren buffet..

    people ! listen ! it is about sales and commissions. he thought i was born yesterday !

  5. #45

    Default Re: All AIA insurance policy holders come in...

    Hi all..

    AIG woes have not impact on AIA policies in singapore and is regulated closely by MAS. Do refer to MAS website. (www.mas.gov.sg) .

    Like all frenzy that always happen in singapore.. many people are reacting like the previous incident of singaporeans fighting and rushing to NTUC/ supermarket to buy rice when Thailand is rumoured to have not enough rice. Hhaaha..

    There is too much of sanitary talk on this issues. Was having lunch.. Even the uncle delivering drinks in coffee shops advising people to terminate their AIA policies... Gloating on others whom have some policies with AIA.

    Lets be calm. Trust MAS. I have many policies with AIA and I dun see any form of actions I need to do. I also have Manulife and John Hancock policies. When they are bought over, restructured and reorg.. the policies are still intact.

    Don't worry and the last thing you would do is to terminate your policies and lose your protection. I think that will be the greatest ignorance.

    With no prejudice and just my two cents worth.

    Have a good week taking photos bros!
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  6. #46

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by stanleyfu View Post
    Hi all..

    AIG woes have not impact on AIA policies in singapore and is regulated closely by MAS. Do refer to MAS website. (www.mas.gov.sg) .

    Like all frenzy that always happen in singapore.. many people are reacting like the previous incident of singaporeans fighting and rushing to NTUC/ supermarket to buy rice when Thailand is rumoured to have not enough rice. Hhaaha..

    There is too much of sanitary talk on this issues. Was having lunch.. Even the uncle delivering drinks in coffee shops advising people to terminate their AIA policies... Gloating on others whom have some policies with AIA.

    Lets be calm. Trust MAS. I have many policies with AIA and I dun see any form of actions I need to do. I also have Manulife and John Hancock policies. When they are bought over, restructured and reorg.. the policies are still intact.

    Don't worry and the last thing you would do is to terminate your policies and lose your protection. I think that will be the greatest ignorance.

    With no prejudice and just my two cents worth.

    Have a good week taking photos bros!
    u are an agent ??

    i know just one fact.. when there many ants attacking an elephant.. the big elephant will eventually die even ants are small but many
    Last edited by Exposure; 19th September 2008 at 11:06 AM.

  7. #47
    Moderator ortega's Avatar
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    Default Re: All AIA insurance policy holders come in...

    the way i see it, AIG will survive (at least for another 2 years)
    so will monitor and see what happens

  8. #48

    Default Re: All AIA insurance policy holders come in...

    SINGAPORE: AIA Singapore’s top man, the executive vice—president and general manager, Mark O’Dell has resigned from the company and has taken leave of absence with immediate effect.

    An effect of cost cutting or did O'Dell saw the dark clouds coming?

  9. #49
    Moderator ortega's Avatar
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    Default Re: All AIA insurance policy holders come in...

    AIG is only suffering a short term cash flow problem
    they just might bounce back

  10. #50

    Default Re: All AIA insurance policy holders come in...

    went just now.. no more queue !

    instead was given a number tag, 22 Sep 3pm !

  11. #51

    Default Re: All AIA insurance policy holders come in...

    What will happen to all AIA insurance agents? Become jobless?

  12. #52

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by Rafael View Post
    What will happen to all AIA insurance agents? Become jobless?
    Still have NTxC insurance jobs. Easy to sell some more. Its a household brand. Wont go wrong as its backed by local guys.

    BTW, its near impossible for AIG to turn around usd120billion in 24mths (that figure includes interest and top expatriate expenses and contract terminations+withdrawals).

    Those agents who want to cling on to that hope, its gonna be tough to help the parent company raise funds. Besides, where branding is concerned, AIA or AIG will have a hard time convincing people to buy more.

  13. #53

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by Exposure View Post
    went just now.. no more queue !

    instead was given a number tag, 22 Sep 3pm !
    go buy 4D 2293...lol

  14. #54

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by contaxable View Post
    Still have NTxC insurance jobs. Easy to sell some more. Its a household brand. Wont go wrong as its backed by local guys.

    BTW, its near impossible for AIG to turn around usd120billion in 24mths (that figure includes interest and top expatriate expenses and contract terminations+withdrawals).

    Those agents who want to cling on to that hope, its gonna be tough to help the parent company raise funds. Besides, where branding is concerned, AIA or AIG will have a hard time convincing people to buy more.
    Like I said AIG has more assets than liabilities, what they are encountering now is a short term cashflow problem. It started when AIG was downgraded by S&P. A rating downgrade is a credit event that gives it's debters the right to withdraw capital from the company. As most of AIG's assets are relatively illiquid it just couldn't come up with so much money in so little time. The 2 year loan given by the feds was meant to allow AIG time to raise capital, whether by securing loans or by selling assets. AIG was never meant to repay the 85 billion solely from profits emerging from it's businesses.
    Last edited by zj2000; 19th September 2008 at 07:06 PM.

  15. #55

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by contaxable View Post
    SINGAPORE: AIA Singapore’s top man, the executive vice—president and general manager, Mark O’Dell has resigned from the company and has taken leave of absence with immediate effect.

    An effect of cost cutting or did O'Dell saw the dark clouds coming?
    If AIG is really in super deep **** why do you think the GM of an obscure branch would be the first to resign? Shouldn't AIG's ceo be the first to step down?

    AIA Singapore is just a small part of AIA Hong Kong which is a small part of AIG.

  16. #56

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by zj2000 View Post
    Like I said AIG has more assets than liabilities, what they are encountering now is a short term cashflow problem. It started when AIG was downgraded by S&P. A rating downgrade is a credit event that gives it's debters the right to withdraw capital from the company. As most of AIG's assets are relatively illiquid it just couldn't come up with so much money in so little time. The 2 year loan given by the feds was meant to allow AIG time to raise capital, whether by securing loans or by selling assets. AIG was never meant to repay the 85 billion solely from profits emerging from it's businesses.
    Point noted, however, i still suggest you read what analyst would like to say about the future of the firm.

    Maybe you dont feel the impact or the pinch. Maybe you are part of the insurance group. If you were in my shoes, you wont be happily dancing by your keyboard, wailing your flag that all is calm and good.

    Two weeks before the saga, a group of AIA agents were out in the field in a massive efforts to raise funds for the slump. Many members in my family bought the story from a an evil lady and invested heavily.

    If you were a victim of the scam, you will understand how I feel towards these dam bast,...

  17. #57

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by zj2000 View Post
    If AIG is really in super deep **** why do you think the GM of an obscure branch would be the first to resign? Shouldn't AIG's ceo be the first to step down?

    AIA Singapore is just a small part of AIA Hong Kong which is a small part of AIG.
    This is because O'Dell is not a top dog from AIG. If he was, he would be under probe and leaving his job wont mean anything.

  18. #58

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by contaxable View Post
    Point noted, however, i still suggest you read what analyst would like to say about the future of the firm.

    Maybe you dont feel the impact or the pinch. Maybe you are part of the insurance group. If you were in my shoes, you wont be happily dancing by your keyboard, wailing your flag that all is calm and good.

    Two weeks before the saga, a group of AIA agents were out in the field in a massive efforts to raise funds for the slump. Many members in my family bought the story from a an evil lady and invested heavily.

    If you were a victim of the scam, you will understand how I feel towards these dam bast,...
    You keep feeling that all is gloom but what is the basis of that feeling. Just because the firm is having some bad publicity you automatically assume that your money is in danger even with the assurance from MAS that it isn't. Like I already told you the assets backing your policy is untouchable by AIA, AIG or the liquidators. Whether or not AIG collapses doesn't affect you because the benefits for your policy will still be met.

    Btw, I don't feel it's a scam at all, the agents are going about their business selling products that consumers want in these uncertain times namely guaranteed yield plans. AIA is not the only company selling these type of plans, HSBC and UOB both have their versions. Would you call those plans scams as well? And the premiums you paid are not used to "raise funds" for the parent company. Every policy they sell represents a liability and needs to be reserved for. The premiums you paid are parked in a separate account and cannot be transferred to the parent.

    These are uncertain times and you probably feel uneasy with the uncertainty but still, best is to calm down and look at the situation objectively.

  19. #59

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by contaxable View Post
    This is because O'Dell is not a top dog from AIG. If he was, he would be under probe and leaving his job wont mean anything.
    Why would anyone be under probe? AIG did not get in to this sh*t because of mismanagement, it got in to this predicament due to bad investments.

  20. #60
    Member/Tangshooter falconite's Avatar
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    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by contaxable View Post
    Point noted, however, i still suggest you read what analyst would like to say about the future of the firm.

    Maybe you dont feel the impact or the pinch. Maybe you are part of the insurance group. If you were in my shoes, you wont be happily dancing by your keyboard, wailing your flag that all is calm and good.

    Two weeks before the saga, a group of AIA agents were out in the field in a massive efforts to raise funds for the slump. Many members in my family bought the story from a an evil lady and invested heavily.

    If you were a victim of the scam, you will understand how I feel towards these dam bast,...
    I was wondering why your post sounded like deep in hatred... I see your family suffered. Why worry.. use the 14 days free load... or best.. report police if you think a fraud is concerned.

    In anycase... i do not think 2 weeks ago any agents would have known of AIG coming to economic crisis this week. Even the federal caught themselves off-guard.. haa

    Sorry I do not believe that 2 weeks ago the agents already try bailing the mother company out of the slump like u said. Please get you facts right. I am no insurance agent.. but u did sound like one from the competitor...
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