American International Group Inc., once the world’s largest insurer, nearly collapsed last September under losses from bad mortgage bets made by a financial products unit. The U.S. government has since stepped in with up to $180 billion in financial support …
Amid simmering outrage over $165 million in bonuses paid to executives at ailing AIG, Representative Barney Frank said Monday it may be time to fire some people at the insurance giant. “These people may have a right to their bonuses …
Glencairn, the Property, Casualty, Accident and Health broker within Faber & Dumas, the third-party wholesale insurance broker of the Willis Group, announced that Tony Pickering has joined Glencairn Energy as Deputy Chairman, effective immediately, reporting to its Chief Executive Alan …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on French-based reinsurer SCOR SE and its core guaranteed subsidiaries (collectively SCOR or the group) to ‘A’ from ‘A-‘. The outlook on all of …
Finance chiefs from the G20 leading economies pledged on Saturday to take all necessary action to revive economic growth, fix the global financial system and fight the threat of protectionism. Without providing many specific numbers, finance ministers and central bankers …
The Association of British Insurers has published five key principles to “help ensure that regulatory reform brings real benefits for consumers, ahead of next week’s Turner review into regulation and the G20 London Summit on 2 April,” said the organization’s …
Goldman Sachs Group and a parade of European banks were the major beneficiaries of $93 billion in payments from American International Group — more than half of the U.S. taxpayer money spent to rescue the massive insurer. The revelation on …
About half of the white sand beaches along Australia’s northeast coast that were blackened by an oil spill have been cleared, an official said Sunday. Authorities declared a disaster zone along 37 miles (60 kilometers) of some of Australia’s most …
The New Mexico House rejected a proposal that would have required owners of dangerous dogs to obtain liability insurance to cover damages or injuries caused by the animals. The legislation, HB667, would have updated a law enacted in 2005 to …
Authorities say there has been another arson in the suburban Philadelphia city of Coatesville. The 1:30 a.m. blaze struck two homes on East Valley Road in the city, and firefighters say they were badly damaged. John Hageman of the federal …
