AIG assures creditworthiness in El Salvador
AIG El Salvador, a subsidiary of American International Group, affirmed that its has the ability to pay for its commitments in the country.
Tuesday, September 23, 2008
In a release, AIG - which operated in El Salvador under the names of AIG Union y Desarrollo S.A and AIG S.A. Seguros de Personas - says that the credit granted to company last week in New York by the US Federal Reserve "will allow us to meet liquidity needs in the short term."
In a theoretical case of a bank liquidation, the assets should cover the deposits by the general public and the shareholder capital.
Qualitas, the Mexican insurer, has increased to 100% its participation in the Salvadoran Qualitas Insurance Company.
The Superintendency of Banks in Panama has taken over administrative and operational control of the bank due to its potential illiquidity and insolvency.
Grupo Assa de Panamá plans to complete its presence in Central America by opening operations in Honduras and Guatemala.
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