U.S. property/casualty insurer Chubb Corp posted a higher quarterly profit on Thursday, beating Wall Street expectations, as investment gains and lower underwriting losses offset declining policy sales. Second-quarter net income rose nearly 18 percent to $551 million. “These results were …
Government approval for billions of dollars in taxpayer bailout funds for life insurers is dividing the industry into haves and have-nots, with Ameriprise Financial Incand possibly others rejecting the government’s helping hand. The sector’s finances have improved during months of …
American International Group’s property/casualty division is moving swiftly to break ties with its parent company, setting itself up to be a stand-alone company, said AIG Chief Executive Edward Liddy. But the name the spun-off company will go by is still …
American International Group Chief Executive Edward Liddy is inching toward several more asset sales, has plans for a trio of initial public offerings, and expects the financial products unit to be a much smaller problem by year-end. Unlike the growth …
Max Capital Group’s deal to merge with rival IPC Holdings offers shareholders a better long-term deal than an unsolicited offer from Validus Holdings, Chief Executive Marston Becker said Thursday. Max’s deal is richer on a book-value basis, even though Validus’ …
Workmen rolled up their sleeves at American International Group Inc. this weekend to take down the most prominent sign at the downtown Manhattan offices of the embattled insurer that has become the scorn of America. A spokesman said the company …
Former AIG Chief Executive Maurice “Hank” Greenberg said in a letter Thursday the insurer should halt asset sales until the new administration in Washington can assess what is best for the now government-controlled insurer. Greenberg, a vocal critic of successive …
American International Group Inc. is cutting prices to win new business and boost market share, competitors and others in the industry say, but taxpayers could again be stuck with the tab. Since a U.S. government bailout, which last month swelled …
Insurance brokerages who lost billions of dollars in revenue under a ban imposed by former New York Attorney General Eliot Spitzer told state regulators on Friday that the rules were never applied universally, and should either be lifted or imposed …
Willis Group Holdings, the third largest global insurance broker, said Monday it sees its $2.1 billion deal for a rival broker boosting growth, especially in the United States. Willis said late Sunday it would buy Richmond, Virginia-based Hilb Rogal & …
