CEO Bob Benmosche says U.S. taxpayers will earn up to $10 billion on the $182 billion rescue of American International Group, the insurance company he runs. Of course, that depends on how one defines “profit.” How much AIG actually borrowed …
The Hartford Financial Services Group Inc., under pressure to boost its stock price from hedge fund manager John Paulson, said it would get rid of most of its life insurance-related operations and focus on being a property insurance and group …
Citigroup and MetLife led a list of financial institutions that failed the Federal Reserve’s latest round of stress testing Tuesday, a shock result for two companies that were widely expected to return billions of dollars in extra capital to shareholders …
Less than a year after a series of tornadoes caused some of the worse insured losses in U.S. history, the insurance industry is likely facing substantial costs again after storms killed at least 33 people on Friday. Friday’s system has …
Anyone looking for more evidence of a strengthening U.S. economic recovery need only consider conglomerate Berkshire Hathaway, where businesses ranging from railroads and electric utilities to furniture and candy stores are racking up record profits. Even though Berkshire’s Warren Buffett …
Bailed-out insurer American International Group reported a $19.8 billion profit for the fourth quarter, after an accounting change that allowed the company to record an enormous one-time benefit. The move, which sent the company’s shares up by about 6 percent, …
The death of Micron Technology Inc. Chief Executive Steve Appleton in the crash of an experimental plane is raising fresh questions about what a company should disclose to investors when a senior executive has a high-risk hobby. There are plenty …
A New York appellate court affirmed a $420.4 million ruling in favor of insurer The Travelers Companies, handing it a victory in one of the longest-running and most complex asbestos-related litigations in history. The dispute has to do with the …
The cruise ship disaster off Italy’s coast is drawing fresh scrutiny to the gaps in international safety rules and standards – yet there may be little appetite among the world’s major shipping nations and companies for big changes anytime soon. …
Damaging hailstorms in Australia. Unprecedented tornadoes in the southeastern United States. Constant windstorms in northern Europe. Sound familiar? This year is starting a lot like last year in terms of unexpectedly severe weather, to the consternation of the insurance industry, …
