Worried Singaporeans rush to redeem AIG policies

Reuters, 16 Sep 2008, Yvonne Cheong

SINGAPORE, Sept 16 (Reuters) - Hundreds of anxious investors thronged the Singapore office of a unit of American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) to redeem their policies on Tuesday, on fears the U.S. insurance giant could be the next financial firm to tumble. American International Assurance, a wholly owned subsidiary of AIG (AIG.N: Quote, Profile, Research, Stock Buzz), pinned up an article from a local paper headlined "AIA policy holders get assurance" at its entrance, but that did not deter wary investors who are facing a deluge of bad news after Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) (LEH.P: Quote, Profile, Research, Stock Buzz) filed for bankruptcy protection on Monday.

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