Evan Greenberg, Ace Limited’s CEO, chided insurers asking to take part in a plan that could see government take stakes in ailing financial institutions, saying the motivation is not real need but access to “cheap capital.” “Taxpayers should be a …
Large property insurer Travelers Cos. Inc. said some potential business opportunities have arisen from the troubles at its rival American International Group Inc., and that the rates it can charge for insurance may also harden partly as a result. Chief …
Troubled insurer American International Group Inc. will freeze payments to a former CEO and officers of the unit that was the main source of its financial problems, New York Attorney General Andrew Cuomo said Wednesday. “This is to confirm that …
American International Group Inc. is in advanced talks with one potential buyer for part of its U.S. personal lines business as the insurer looks to sell assets to pay off a massive government loan, Chief Executive Edward Liddy said in …
American International Group Inc. shares plummeted after the insurer’s credit ratings were cut, heightening concerns it might file for bankruptcy and further upset the global financial system. In late-morning trading, AIG shares were down $2.29, or 48.1 percent, at $2.47 …
American International Group Inc. shares sank 48 percent on a report that regulators might take control of the giant insurer, though a U.S. government source said federal agencies do not have legal authority to put AIG into a conservatorship. Bloomberg …
An $85 billion government rescue of insurer American International Group Inc. looked increasingly likely Tuesday to stave off a bankruptcy that would have thrown world markets back into turmoil. The Federal Reserve will extend AIG $85 billion in exchange for …
Shares of American International Group Inc. plunged 53 percent Monday as investors grew increasingly nervous after the insurer, once the world’s most valuable insurer by market value, failed to deliver a rescue plan. AIG, hit by $18 billion in losses …
Embattled insurer American International Group Inc. received New York state approval to post $20 billion of policyholders’ assets as collateral as it seeks to stave off a liquidity crisis and works with banks to fix its problems. Under the plan, …
Insurer American International Group Inc., working to stave off rating downgrades [See related article] and shore up the capital of its holding company, has made an unprecedented approach to the Federal Reserve seeking $40 billion in short-term financing, the New …
