August 14, 2014
New York’s financial-services regulator told fellow watchdogs they are failing to address a “gaping regulatory problem” that he said allows life insurers to artificially inflate reserves. There should be tighter rules governing captives, the subsidiaries that some insurers use to …
July 31, 2014
Hartford Financial Services Group Inc. fired an executive after he made comments critical of Herbalife Ltd. to the media. William Kelly, who was a vice president in the directors and officers division at the Hartford, Connecticut-based insurer, was terminated last …
July 16, 2014
Aspen Insurance Holdings Ltd. investors should reject plans from hostile bidder Endurance Specialty Holdings Ltd. to expand their company’s board, proxy adviser Glass Lewis & Co. said in a report. “Endurance has failed to make a compelling case for Aspen …
July 15, 2014
American International Group Inc.’s Peter Hancock will get a compensation package of $11.8 million a year as the insurer’s new chief executive officer. The short-term incentive will be $3.2 million of cash and the long-term will be $7 million in …
July 14, 2014
Aspen Insurance Holdings Ltd. investors should rebuff a plan from hostile bidder Endurance Specialty Holdings Ltd. to shake up their company’s board, ISS Proxy Advisory Services said. Supporting Endurance’s proposal “would incur costs without allowing shareholders any additional leverage not …
July 3, 2014
American International Group Inc. and Prudential Financial Inc. told regulators they could divest units and halt policy sales to avoid taking a bailout in a future crisis. AIG, the insurer that repaid a U.S. rescue in 2012, and Prudential, which …
July 1, 2014
Tower Group International Ltd., the insurer that agreed to be bought by ACP Re Ltd., plunged to a record low amid doubts over whether the deal will be completed. Tower declined 19 percent to $1.65 at 9:52 a.m. yesterday in …
June 19, 2014
Hamilton Insurance Group Ltd., the reinsurer that counts Sanford “Sandy” Weill as its chairman, hired Bob Deutsch as chief strategy officer to lead an expansion that could include takeovers. Deutsch, a managing director at GCP Capital Partners Holdings LLC, will …
June 9, 2014
Hartford Financial Services Group Inc. promoted Christopher Swift to chief executive officer, replacing Liam McGee, who is stepping down after a medical procedure. Swift, 53, the chief financial officer who joined from American International Group Inc. in 2010, becomes CEO …
June 3, 2014
Steven Kandarian got MetLife Inc. out of banking to escape Federal Reserve oversight. Now, the insurer is fighting again to avoid the central bank’s reach. Kandarian, MetLife’s chief executive officer, has called regulatory uncertainty the primary challenge to meeting profit …