November 14, 2014
Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said Chief Executive Officer Jay Fishman has been diagnosed with a neuromuscular condition. “While fortunately it has so far been slow progressing, you may soon see me with …
November 13, 2014
ING Groep NV plans to sell shares of its former U.S. insurance unit, Voya Financial Inc., reducing the bank’s stake to 19 percent from about 32.5 percent. ING, the biggest Dutch bank, is selling 34.5 million shares in New York-based …
November 2, 2014
American International Group Inc. agreed to pay a $35 million penalty to resolve a New York State probe into unlicensed insurance sales by former units. The subsidiaries, American Life Insurance Co. and Delaware American Life Insurance Co., solicited business in …
November 2, 2014
American International Group Inc. is stripping a claims adjuster in Syria from a list given to shipping-industry clients after a U.S. regulator questioned a rival about relationships in blacklisted nations. “The individual in Syria is not an employee or agent …
October 28, 2014
Robert Benmosche is working on a book about turning around American International Group Inc. Benmosche’s memoir focuses on the five years he led AIG and is slated to be published in late 2015 or early 2016 by St. Martin’s Press, …
October 28, 2014
Hartford Financial Services Group Inc. is working to reduce its retirement obligations by paying former employees to give up their pensions. Last month, the insurer offered voluntary lump-sum payments to about 13,500 workers who had left the company and hadn’t …
October 28, 2014
Private insurers are considering a request by U.S. officials to guarantee mortgages for veterans — the fastest growing part of the market. The Department of Housing and Urban Development is urging mortgage insurers that rely on Fannie Mae and Freddie …
October 15, 2014
Beazley Plc hired Matt Barone from American International Group Inc., becoming the second insurer in a month to recruit from AIG to build groups that sell coverage protecting corporate clients against crimes. Barone joins the fidelity bond and crime team …
October 9, 2014
Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this year from about …
October 9, 2014
American International Group Inc., the largest commercial insurer in the U.S. and Canada, introduced a policy to help railroads handle losses from catastrophic accidents as more crude oil is shipped by trains. The insurer is offering $1 billion per occurrence …