After Symetra Financial Corp. was formed in 2004, the life insurer set up shop in a 25-story glass tower outside Seattle, put its name on the building and pushed the state to adopt more favorable rules for its business. The …
Axis Capital Holdings Ltd., the Bermuda-based insurer and reinsurer, promoted John “Jack” Gressier to chief operating officer, replacing Dennis Reding, who’s retiring from the post at 65. Gressier, 46, has worked at Axis for a dozen years, most recently as …
ING Groep NV, the biggest Dutch financial-services company, will end its majority stake in its U.S. insurance unit with another share sale as it winds down ownership of the business. The parent plans to sell 26.5 million shares of ING …
RSA Insurance Group Plc was upgraded by Standard & Poor’s after Chief Executive Officer Stephen Hester announced a stock sale and a deal to transfer risk to Warren Buffett’s Berkshire Hathaway Inc. The credit grade was lifted to ‘A’ from …
American International Group Inc. Chief Executive Officer Robert Benmosche is increasing returns for shareholders as he targets job cuts to simplify the firm. AIG boosted its quarterly dividend by 25 percent to 12.5 cents a share and authorized another $1 …
RSA Insurance Group Plc has hired former Royal Bank of Scotland Group Plc CEO Stephen Hester to lead the U.K. insurer as it seeks to put a scandal at its Irish unit behind it. Hester, 53, succeeds Simon Lee, who …
Hartford Financial Services Group Inc., now focusing on property/casualty coverage, posted a profit in the fourth quarter as catastrophe costs fell. Net income was $314 million, or 65 cents a share, compared with a loss of $46 million, or 13 …
Regulators are starting to scrutinize Warren Buffett’s Berkshire Hathaway Inc. to determine whether it is important enough to the financial system to require Federal Reserve supervision, according to two people with knowledge of the matter. The U.S. Financial Stability Oversight …
Warren Buffett’s Berkshire Hathaway Inc. is backing a $1 billion prize offered by Quicken Loans Inc. if a contestant predicts the winner of each game in the National Collegiate Athletic Association’s men’s basketball tournament. The prize will be paid in …
Travelers Cos., the property/casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit more than tripled as claims costs from natural disasters fell a year after Superstorm Sandy. Net income rose to $988 million, or $2.70 a share, from …
