Who owns Validus?
Devon Energy Corp.
Devon Energy Corp. has agreed to acquire Validus Energy, an Eagle Ford operator, for total cash consideration of $1.8 billion. The transaction is expected to close at the end of the third quarter, with an effective date of June 1, Oklahoma City-based Devon said in a news release.
Who are Validus?
Validus is a leading independent financial services firm, specialising in providing financial risk management, fund finance advisory and technology solutions to the alternative investment industry.
Is Validus part of AIG?
Since being acquired in July 2018, Validus has been viewed as “highly strategically important” to AIG, but analysts now consider the unit to be well integrated both operationally and strategically, and to be a key part of AIG’s reinsurance strategy.
Is AIG a reinsurance company?
AIG Re’s reinsurance businesses provide insurance companies financial protection against a range of risks from policies they write.
Who is the CEO of Validus?
Nikhilesh Goel
Nikhilesh Goel is the Co-Founder & Group CEO at Validus .
How does Validus work?
(“Validus”) operates as a Peer-to-Peer (P2P) lending platform that connects SME borrowers looking to fund their short-term working capital requirements with accredited and institutional investors looking to invest in higher yielding, unsecured loan portfolio.
Who did AIG merger with?
(NYSE: AIG) and Blackstone (NYSE: BX) today announced that they have reached a definitive agreement for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business for $2.2 billion in an all cash transaction.
What was the AIG scandal?
The most prominent scam in the recent history of American economy was the AIG Accounting Scandal of 2005. The AIG was found guilty of entering into sham transactions in order to inflate the reserves and to conceal losses. It was also found guilty of misled the Insurance Department about offshore affiliates of AIG.
How did AIG fail?
The company’s credit default swaps are generally cited as playing a major role in the collapse, losing AIG $30 billion. But they were not the only culprit. Securities lending, a less-discussed facet of the business, lost AIG $21 billion and bears a large part of the blame, the authors concluded.
When was Validus founded?
Founded in 2015, Validus is Singapore’s largest SME financing platform focused on unsecured lending to growing businesses.
What is Validus investment?
Why did AIG almost fail?
Which president bailed out AIG?
candidate Barack Obama
The Federal Reserve required a 79.9 percent equity stake as a fee for service and to compensate for the risk of the loan to AIG. Presidential candidate Barack Obama supported this bailout at the time, along with most of Congress, who adopted the Bailout Bill that enabled it.
Does the US government still own AIG?
The U.S. government has since sold off its equity stake in AIG, and the company has repaid its federal loans.
Is AIG still in business?
You may be surprised to learn that the American International Group Inc., better known as AIG (NYSE: AIG), is still alive and kicking, and is no longer considered a threat to the financial stability of the United States.
What did AIG do wrong?
AIG had written credit default swaps on over $500 billion in assets. But it was the $78 billion in credit default swaps on multi-sector collateralized debt obligations—a security backed by debt payments from residential and commercial mortgages, home equity loans, and more—that proved most troublesome.
How did AIG get caught?
In 2005, AIG was caught for an alleged fraud by the SEC, Justice Department and New York State Attorney General’s office. Investigations were conducted by independent counsel on the request of AIG’s audit committee.
What is AIG Scandal?
The AIG Scandals – A Simple Overview – YouTube
Did anyone go to jail for the AIG?
WASHINGTON – The former vice president of reinsurance of American International Group Inc. (AIG), was sentenced today to four years in prison for his role in a fraudulent scheme to manipulate AIG’s financial statements, the Department of Justice announced.
Who was responsible for AIG scandal?
In 2009, Greenberg and Smith settled U.S. Securities and Exchange Commission charges over AIG’s accounting, with Greenberg paying $15 million and Smith $1.5 million.