What’s New: In Brief (September 23, 2008)

American International Group Inc. (AIG) may need to sell more than half of its businesses, and the most coveted of its properties could be its international life businesses and the domestic retirement unit, according to Reuters, citing a Credit Suisse report to investors.
The U.S. Federal Reserve loaned AIG US$85 billion last week, prompting widespread speculation about which assets AIG will sell in order to pay back the loan.
“The combined saleable value for AIG would be [US]$82 billion after deducting [US]$33 billion of estimated costs associated with the need for de-risking its portfolio,” Reuters reported, citing Credit Suisse analyst Thomas Gallagher.
The Toronto Globe and Mail reported that Manulife Financial and Fairfax Financial Holdings are two of many other Canadian insurance operations rumoured to have interest in purchasing AIG’s Canadian property and casualty operations.

The Neighbourhood Pace Car program, a joint initiative of Insurance Bureau of Canada (IBC) and the Ecology Action Centre, is encouraging residents to take the “Pace Car Pledge” and drive within the speed limit on all roads.
The anti-speeding program will be launched at Grosvenor-Wentworth Park Elementary school in Halifax, where parents, teachers and students have pledged to take a stand against speeding in their neighbourhood. Supported by HRM Police, the Pace Car program asks motorists to become mobile speed bumps.
Attending the official launch of the program on Sept. 25 will be Halifax Mayor Peter Kelly, Halifax Regional Municipality Councillor Debbie Hum, HRM Police Representative and Active & Safe Routes to School Coordinator for the Ecology Action Centre Janet Barlow and IBC Acting VP Bill Adams.