Fears that American International Group Inc.’s large mortgage exposure could trigger another round of losses has rankled investors so much that the insurer has lost its iron grip as the world’s industry leader by market value. AIG’s shares have tumbled …
Shares of American International Group Inc., the world’s biggest insurer, fell sharply Tuesday as investors worried that the company’s large exposure to mortgage markets could trigger the need to raise fresh capital. Investors, who have already weathered $25 billion in …
American International Group sees China becoming a much larger part of its general insurance business within the next five years, Nicholas Walsh, executive vice-president of the foreign general insurance division, said Wednesday. Walsh, a 35-year veteran of the giant insurance …
John Charman, chief executive of Bermuda-based Axis Capital Holdings Ltd , said Wednesday that his eyes are open for acquisitions, both large and small. “We would consider acquiring any company that substantially enhances earnings potential,” Charman said at an insurance …
Hurricane Gustav, which came ashore southwest of New Orleans on Monday morning, is expected to trigger significant insurance claims but far less than record-setting Katrina did three years ago. “This is a significant, catastrophic event, but insurers anticipate these, and …
American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led to an unexpected $5.36 billion quarterly loss. Willumstad, …
A handful of insurers holding equity in U.S. home-funding giants Fannie Mae and Freddie Mac could see big losses if a federal takeover wipes out the value of the agencies’ common and preferred stock, as some investors fear. “There are …
American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led to an unexpected $5.36 billion quarterly loss. Willumstad, …
Big insurance brokerages that lost billions of dollars in revenue under a ban imposed by former New York Attorney General Eliot Spitzer told the state’s regulators recently that the rules were never applied universally, and should either be lifted or …
Allstate Corp, the largest publicly traded U.S. home insurer, said on Wednesday net income plunged in the second quarter, hit by the highest level of second-quarter catastrophe losses in its 77-year history. Catastrophe losses for the quarter rose more than …
