Had bought insurance from TATA-AIG. US treasury bailed out AIG at the last moment with $86Bn!
However from the news reports it seems that the TATAs is fully covered with capital for all its liabilities. TATA holds 76% stake in the Indian JV with AIG and promoters are planning a capital infusion of Rs250Cr to meet its solvency requirements for business growth projections over the next 2 years. Quoting ET Kolkata Edition dt 18th September - ' "Currently TATA-AIG Life's capital stands at $293Mn(Rs 13000 crore) and the company's solvency margin is 304% against IRDA's stipulation of 150%" said TATA-AIG Life MD Trevor Bull'
Things look hunky dory at least in the medium. I am tied with my investments for the next 4 years. Keeping my fingers crossed.
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