Former American International Group Inc. CEO Maurice “Hank” Greenberg said the insurer could fall apart unless management quickly came up with a unified recovery plan. “You can’t hold (together) an organization that is drifting in the way it is,” he …
Hartford Financial Services Group Inc. shares soared as much as 52 percent Friday after the company boosted its 2008 profit forecast and said it had more than enough capital to withstand significant further deterioration in equity markets. The outlook provided …
American International Group Inc. and the U.S. government have reached an agreement to clear the insurer of its obligations on about $53.5 billion in toxic mortgage debt, the giant insurer said in a regulatory filing Tuesday. The development is part …
Pushed by the global economic crisis, the United States is expected to embrace federal regulation of the insurance industry as early as 2009, according to some financial and insurance executives. Federal regulation — something that most other nations already have …
Life insurance companies, nervous over massive investment losses that could ultimately threaten their viability, are hoping they are next in line to get a piece of the U.S. financial bailout. They argue federal funds could stabilize their trillions in investments …
Pushed by the global economic crisis, the United States is expected to embrace federal regulation of the insurance industry as early as 2009, according to some financial and insurance executives. Federal regulation in the United States — something that most …
Maurice “Hank” Greenberg, former CEO of American International Group Inc., said he would consider buying AIG’s Asian life insurance operations if the firm were to put this flagship business on the market. AIG, once the world’s biggest insurer by market …
The U.S. government dramatically boosted its bailout of insurer American International Group Inc. and eased the terms of its loans to the company on Monday after an initial rescue plan failed to stabilize the company. Under the new plan, the …
U.S. Sen. Charles Grassley, the top Republican on the Senate Finance Committee, has asked troubled insurer American International Group Inc to provide full details of its use of a $123 billion government bailout. AIG, which had been the largest insurer …
Maurice “Hank” Greenberg, the former American International Group Inc. chief executive, says the terms and conditions surrounding a government rescue loan are pushing the insurer closer to collapse with each day. “Time is clearly running out,” said Greenberg in a …
