AIG expands its credit insurance coverage in the Middle East

American International Group (AIG) is expanding its credit insurance coverage in the Middle East, as it seeks to tap a US$60 million (Dh220.3m) market for insuring trade receivables. The insurer is expanding again five years after it experienced the financial equivalent of a nearly fatal heart attack, when the collapse of the investment bank Lehman Brothers triggered billions of dollars of credit default swaps it could not afford to pay, precipitating a $182 billion bailout by the US government.

MidCap seeks liftoff with Apollo

MidCap FinCo Limited (together with its subsidiaries MidCap Financial), in partnership with other Apollo managed funds and affiliates, has announced that it has signed an agreement with Mubadala GE Capital (MGEC) to acquire substantially all of MGEC's loan portfolio of primarily corporate and real estate loans in the US and Europe with total assets of USD3.6 bn