Hilarious (or ridiculous, perhaps) - the Financial Times is now reporting little old Betaville's AIG/Ascot scoop but attributing the tale as "first reported" by the Wall Street Journal. Here is the link:
Posts tagged: Ascot Re
That last bastion of old school broking - the Lloyd's of London insurance market - may soon be a fertile environment for dealmakers.
I'm hearing from good industry sources that US insurance giant AIG is gearing up for a potential sale of Ascot. Ascot is a member of the Lloyd's market, where it's not unusual for brokers and underwriters to go out for a long boozy lunch and return to work fours hours later completely inebriated. In fact, in some places it's encouraged...