Federal securities class action litigation rose to 189 filings in 2015, an 11 percent increase over 2014 levels, according to new research. “Securities Class Action Filings—2015 Year in Review,” a report issued by Cornerstone Research and the Stanford Law School …
American International Group (AIG) CEO Peter Hancock, who announced the sale of the company’s AIG Advisor Group and a partial (19 percent) spin-off of mortgage insurer United Guaranty Corp., said AIG is open to further divestiture, even of its biggest …
Tornadoes, hailstorms and fires took their toll on Texas last year with insured losses well over $3 billion, according to an insurer trade group The state had over three times as many claims and almost three times the dollar amount …
Federal safety regulators cited a Texas flooring company for workplace hazards after a worker required hospitalization due to workplace injuries. Subfloor Systems Inc. of Hurst, Texas, was fined $66,990 by the U.S. Department of Labor’s Occupational Safety and Health Administration …
Deluxe Financial Services Corp. (Deluxe), a Shoreview, Minn.-based check-printing and financial services corporation, has agreed to pay $115,000 as part of the settlement of a sex discrimination and harassment lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the …
American International Group Inc. has agreed to sell AIG Advisor Group to investment funds affiliated with Lightyear Capital LLC, a private equity firm specializing in financial services investing, and PSP Investments, one of Canada’s largest pension investment managers. Terms of …
American International Group Inc. announced $3.6 billion in expenses to fill a reserve shortfall after higher-than-expected claims costs and will exit its mortgage insurer and sell an adviser network as Chief Executive Officer Peter Hancock seeks to boost returns and …
London-based RSA has appointed Doug Stewart to the new role of chief risk officer for the UK and western Europe. Stewart will be responsible for the governance of significant risks to the UK and Western European businesses, including strategic, insurance, …
Bank of England Deputy Governor Andrew Bailey will become the new chief executive officer of the U.K. Financial Conduct Authority, as the Chancellor George Osborne turned to a familiar face following a six-month search for the country’s top markets regulator. …
Munich Re will acquire an additional 23.27 percent of shares of Apollo Munich Health Insurance Co. Ltd., from its joint venture partner, the Apollo Hospitals Group, India, increasing its shareholding from 25.5 percent to 48.75 percent. Representatives of both companies …
