Standard & Poor’s could downgrade bond insurers by a full category or more if new ratings standards for the sector are implemented and the companies do not raise more capital, the agency said Monday. Bond insurers’ shares fell sharply, as …
U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away those estimates. Floods in Southern …
The recapitalization of bailed-out insurer American International Group Inc. closed last Friday, leaving the government with a 92 percent stake that it plans to sell quickly. Bankers were buzzing Friday about how soon that might happen, with at least one …
Some of the United States’ top bankers descended on a law firm in midtown Manhattan Thursday to pitch for what could be one of the largest share sales in history — a secondary offering for bailed-out insurer American International Group …
Banks will meet in New York City Thursday to make their case for the right to sell the U.S. Treasury’s stake in American International Group, three people familiar with the matter said Wednesday. The Treasury will own 92.1 percent of …
Two new reports deepened the gloomy outlook for global reinsurers Monday, with fresh evidence of weak pricing and little hope for a turnaround for the sector in the near future. Reinsurers are mired in a prolonged slump as an excess …
American International Group Inc. shares are expected to settle back to a level in the mid-$40 range once the company’s recently approved warrants begin trading, a person familiar with the situation said Monday. But even at that level, the government …
The world’s top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling in the wake of BP’s disastrous Gulf of Mexico spill last April. Their goal is to expand liability …
Bond insurer ACA Financial Guaranty Corp. sued Goldman Sachs Group Inc. on Thursday, alleging it was deceived into insuring a transaction designed to fail and for which Goldman ultimately paid a $550 million civil penalty. Goldman Sachs paid the settlement …
U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away those estimates. That could add …
