It has been a mad scramble as Singaporeans of all races rushed to the AIG Singapore to try to redeem their policies yesterday. It was in response to the fear of the US Insurance Giant being the next to tumble. This news follows the latest of Lehman Brothers that filed for bankruptcy protection just a day earlier.
With so much uncertainty, many policy holders are worried about their policy situation. Some of them prefer to surrender and redeem the cash despite some loss. The Monetary Authority of Singapore had advised the policyholders not to act hastily to terminate their policies.
During lunch hours, a crowd could be seen at AIA's office, located at the CBD area in Singapore. Some of them could be seen been asked to move up by security guards.
Wednesday, September 17, 2008
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