U.S. life insurers, already weakened by the global financial crisis, are expected to report their worst-ever quarterly results in the coming weeks, stoking expectations that federal funds will be needed to prevent the sector from becoming the next casualty of …
Moody’s Investors Service cut its credit ratings on Berkshire Hathaway Inc from Aaa, the top rating, saying the recession and investment losses at insurance operations of investor Warren Buffett’s holding company reduced its ability to support funding needs. Wednesday’s cut …
Fifteen of 20 American International Group leading bonus recipients have agreed to give them back in full, said New York’s top legal officer who is probing into $165 million in executive pay at the troubled company bailed out by the …
Goldman Sachs Group and a parade of European banks were the major beneficiaries of $93 billion in payments from American International Group — more than half of the U.S. taxpayer money spent to rescue the massive insurer. The revelation on …
AIG’s recent claims that its collapse could threaten not just banking counterparties but also decimate the broader U.S. life insurance industry are alarming but also largely unproven. The contention was made in a presentation to U.S. regulators in late February …
AIG senior reinsurance executive Charles Dangelo has left the insurer to join a company run by its former CEO Maurice “Hank” Greenberg. Dangelo joins the growing number of executives who have left American International Group Inc. since the insurer was …
Maurice “Hank” Greenberg’s legacy as the man who built AIG into the world’s largest insurer was tarnished by a 2005 probe but questions about whether he created a financial monster that subsequently ran amok could cause greater damage to his …
A federal judge has rejected a bid to dismiss one of three remaining claims brought by AIG in a court battle against Starr International Co., a company controlled by former AIG Chief Executive Maurice “Hank” Greenberg, over rightful ownership of …
Maurice “Hank” Greenberg’s legacy as the man who built AIG into the world’s largest insurer was tarnished by a 2005 probe but questions about whether he created a financial monster that subsequently ran amok could cause greater damage to his …
A revised bailout of American International Group Inc. may be just another “band-aid” solution, but more than five months after it was first rescued by the government the option of letting the insurer fail would still be considered too big …
