American International Group Inc. said that it has decided to restate financials from several previous years and that preliminary results of its internal audit show its 2004 results should be reduced by $2.7 billion, or 3.3 percent of its shareholders’ …
Citing “people familiar with the matter,” the The Wall Street Journal reported that insurance giant American International Group Inc. fired two of its executives because they indicated they would invoke their Fifth Amendment rights against self-incrimination in the midst of …
Maurice “Hank” Greenberg will step down as Chairman of American International Group’s Board of Directors, ending his more than 40-year relationship with AIG. Also, Warren Buffett, the well-known investor and chairman of Berkshire Hathaway, owner of General Reinsurance, one of …
American International Group, Inc. announced that the filing of its 2004 Form 10-K will be delayed beyond the March 31, 2005 extended due date in order to provide AIG, its board of directors and its new management more time to …
The various investigations of giant insurer American International Group are continuing to take their toll. Maurice “Hank” Greenberg will step down as Chairman of American International Group’s Board of Directors later this week, ending his more than 40-year relationship with …
The Securities and Exchange Commission has sent subpoenas to as many as 12 executives at American International Group Inc. amid several probes into whether questionable accounting transactions were used to improperly bolster AIG’s financial standing, according to a Wall Street …
Insurance giant American International Group, under increasing scrutiny by state and federal regulators and its own internal auditors, is looking at the possibility of fixing up to $3 billion in accounting mistakes made over the past five years, the Wall …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating of “a” of Bank of Montreal Insurance (Barbados) Limited, with a stable outlook. “These ratings reflect Bank of Montreal Insurance’s …
Matthew Wallace Schachter, aka Robert Lewis Brown, aka Matthew C. Rollins, was indicted in February on federal charges relating to an insurance fraud scheme that allegedly netted more than $20 million over the last four years. The indictment, filed in …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating of “a” of Barbados-based TD Reinsurance Inc. (TD Re) with a stable outlook. “The rating reflects TD Re’s consistently strong …
