September 11, 2009
American International Group Inc. may sell stakes in its businesses, rather than shedding entire units, to repay U.S. government bailouts, retaining huge tax benefits, according to a source familiar with the matter. The strategy differs from what AIG CEO Robert …
August 31, 2009
American International Group Inc. and former CEO Maurice “Hank” Greenberg said Monday they have agreed to privately arbitrate a shareholder lawsuit, and possibly another, potentially ending a an extended legal fight between the parties. Relations between Greenberg and AIG have …
August 19, 2009
The first hurricane of the 2009 Atlantic season may end up skipping past the United States, leaving insurers to hope that the next ominous storm clouds will come ashore with a silver lining. Insurers can face billions of dollars in …
August 19, 2009
Robert Benmosche, the newly appointed chief executive of AIG, has started to cut up the insurer’s restructuring plan, deciding it is better to hold on to an investment advisory unit that is part of the insurer’s retirement services group. “Benmosche …
August 6, 2009
American International Group’s former chief executive Hank Greenberg agreed to pay $15 million to settle government allegations that he had cooked the books to inflate the insurer’s earnings in the first half of this decade, the Securities and Exchange Commission …
August 5, 2009
Marsh & McLennan Cos. Inc. , the No. 2 global insurance broker, posted quarterly results in line with expectations on Wednesday and forecast improved profitability for its brokerage business, sending its shares up 4.3 percent. The company reported a second-quarter …
July 28, 2009
Property-casualty insurer Ace Ltd. posted a second-quarter operating profit Monday that beat Wall Street expectations, sending its shares more than 2 percent higher. Ace said net income fell about 27 percent, hurt by a decline in policy sales and realized …
July 27, 2009
IPC Holdings, the Bermuda catastrophe reinsurer that attracted interest from more than a dozen bidders, held out for a storm-proof agreement before agreeing to a sale to rival Validus Holdings The $1.65 billion cash-and-stock deal, still to be approved by …
July 27, 2009
Bailed-out insurer American International Group Inc. rebranded its property/ casualty business under the name Chartis Monday and said it would put the equity for the division into a separate company — key steps toward a sale of at least part …
July 23, 2009
American International Group Inc., the insurer that has received billions of dollars in federal aid, withheld $2.4 million in bonuses due to be paid to dozens of senior managers on July 15. The AIG decision was disclosed by George Madison, …