2008 Société Générale trading loss the bank's total market capitalization. Bank officials claim that Kerviel tried to conceal the activity by creating losing trades intentionally so as to offset his early gains. According to the BBC, Kerviel generated €1.4 billion in hidden profits by the end of 2007. His employers say they uncovered unauthorized trading traced to Kerviel on January 19, 2008. The bank then closed out these positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices, and losses attributed are estimated at €4.9 billion. The bank claimed Kerviel "had
T & G Mutual Life Assurance Society income of nearly 4 million pounds, and assets totaling over 16 million pounds. By 1952 the income had increased to 16 million pounds and funds to 86 million pounds. In 1983 the T&G Society amalgamated with the National Mutual Life Association. which was itself purchased by AXA, a French multinational, in the 1990s. The T & G Mutual Life Assurance Society was notable amongst Australian insurance companies for constructing a series of landmark buildings in cities and town across Australia and New Zealand in the interwar period. In the boom years of the 1880s they built prominent headquarters in Melbourne