The government bailout of AIG and controversial bonuses paid by the insurer cannot be brought up during trial of the company’s suit involving former CEO Maurice “Hank” Greenberg, a judge ruled on Monday. As the trial opened before a jury …
AIG, days before a high-profile legal fight with a company controlled by former CEO Maurice Greenberg heads to court, promised to use any funds won at trial to repay U.S. taxpayers. “While any relief granted for AIG’s equitable and legal …
A newly formed U.S. municipal bond insurer, ready to open its doors as soon as it gets credit ratings, expects to launch with about 50 employees and double that number as it ramps up, executives told Reuters. Municipal and Infrastructure …
A search for a successor to Edward Liddy, chairman and chief executive of AIG, is being led by board member Dennis Dammerman, according to a source familiar with developments. The search, which is expected to take no more than a …
AIG is expected to soon begin the process of launching the initial public offering of its largest Asian subsidiary, according to sources familiar with the matter, in what could be one of the largest Asian IPOs to hit the market …
American International Group Inc. CEO Ed Liddy met some harsh criticism at a congressional hearing on Wednesday as lawmakers demanded answers on the taxpayer bailout of the giant insurer. Rep. Dennis Kucinich wagged his finger at Liddy, who was brought …
American International Group, the giant insurer bailed out by the U.S. government, reported its smallest loss in six quarters on Thursday, hurt once more by investment losses and write downs. AIG has lost more than $100 billion over those periods, …
Warren Buffett criticized the government’s stress tests of 19 large U.S. banks, and said he would buy more shares of three big banks in the portfolio of his Berkshire Hathaway Inc. Buffett also told reporters on Sunday that Berkshire, which …
Being a big insurer will cost Berkshire Hathaway Inc. dearly when severe catastrophes strike, but it is a good place to be in the midst of an economic downturn, Chairman Warren Buffett said. “We are lucky,” said Buffett, as he …
High-end property/casualty insurer Chubb Corp. said Thursday that earnings fell in the first quarter, hit by losses on fund investments and declining policy sales. Chief Executive John Finnegan said the “difficult economic and investment environment” had caused some customers to …
