On Friday, American International Group Inc (NYSE:AIG)’s shares declined -2.32% to $58.08.
AIG Private Client Group, a division of American International Group, Inc. (AIG) that serves high net worth policyholders, recently introduced wearable collections coverage, a unique, specialized insurance solution for couture and designer wearable collections.
The new couture product offers coverage not typically found in a homeowners policy and recognizes the high value placed on the fine craftsmanship of high-end designer fashions and wardrobe accessories.
The insurance covers couture and ready-to-wear garments, shoes, handbags, and vintage and historic clothing. It addresses damage caused by flood, mold, and moths, risks often excluded from a homeowners policy. Coverage for custom, work-in-progress couture and shoes is also offered, as is reimbursement of expenses for clients who protect their couture by removing it from the home in advance of an impending threat.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally. The company’s Commercial Insurance segment offers general liability, commercial automobile liability, workers’ compensation, excess casualty, and crisis administration causality insurance products; commercial, industrial, and energy-related property insurance products; aerospace, environmental, political risk, trade credit, surety, and marine insurance products, in addition to various insurance products for small and medium sized enterprises; and professional liability insurance products for a range of businesses and risks. It also provides mortgage guaranty insurance; stable value wrap products, and structured settlement and terminal funding annuities; and corporate- and bank-owned life insurance and guaranteed investment contracts.
New Gold Inc. (USA) (NYSEMKT:NGD)’s shares gained 3.59% to $2.31.
New Gold Inc. (“New Gold”) (NGD) declares that the company has reached a contract with Goldcorp Inc. (“Goldcorp”) to sell New Gold’s 30% interest in the El Morro project to Goldcorp in exchange for $90 million in cash, a 4% stream on gold production from the El Morro property and the cancellation of New Gold’s $93 million carried funding loan (the “Transaction”). The Transaction provides New Gold with raised financial flexibility, strengthens the balance sheet and enables the company to maintain exposure to El Morro’s noteworthy8.9 million ounce gold reserve and ongoing exploration potential.
KEY TRANSACTION HIGHLIGHTS
$90 million cash consideration
- $90 million, less applicable withholding taxes, to be paid at closing of the Transaction, predictable to be in the fourth quarter of 2015
4% stream on gold production from the El Morro property
- 4% stream on life-of-project gold production from the 417 square kilometre El Morro property
- El Morro’s presently estimated gold mineral reserves – 599 million tonnes at an average gold grade of 0.46 grams per tonne, totalling 8.9 million ounces
- Measured and Indicated mineral resources (exclusive of reserves) – 92 million tonnes at an average gold grade of 0.41 grams per tonne, totalling 1.2 million ounces
- Inferred mineral resources (counting open pit and underground resources) – 678 million tonnes at an average gold grade of 0.30 grams per tonne, totalling 6.5 million ounces
- New Gold to pay fixed $400 per ounce on the first 217,000 ounces of gold delivered as part of the stream
New Gold Inc., a gold mining company, engages in the acquisition, exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company’s operating properties comprise a 100% interest in the New Afton gold-copper mine in British Columbia, Canada; the Mesquite gold mine in California; the Peak gold-copper mines in New South Wales, Australia; and the Cerro San Pedro gold-silver mine in the state of San Luis Potosí, Mexico.
At the end of Friday’s trade, Dollar Tree, Inc. (NASDAQ:DLTR)‘s shares surged 1.63% to $68.09.
Dollar Tree, Inc. (DLTR), North America’s leading operator of discount variety stores, recently declared its participation in the Goldman Sachs 22nd Annual Global Retailing Conference on September 9, 2015. Bob Sasser, Chief Executive Officer, Kevin Wampler, Chief Financial Officer, and Randy Guiler, Vice President – Investor Relations, will attend this conference.
Dollar Tree, Inc. operates discount variety stores in the United States and Canada. Its stores offer merchandise at the fixed price of $1.00. The company’s stores provide consumable merchandise, which comprises candy and food, and health and beauty care products; and everyday consumables, such as paper and chemicals, and frozen and refrigerated food. Its stores also offer various merchandise that comprise toys, durable housewares, gifts, party goods, greeting cards, softlines, and other items; and seasonal goods compriseing of Valentine’s Day, Easter, Halloween, and Christmas merchandise. The company operates its stores under the names of Dollar Tree, Deal$, Dollar Tree Deal$, Dollar Tree Canada, Dollar Giant, and Dollar Bills. It operates about 5,080 stores.
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