Reno, Nev.-based Employers Holdings Inc. reported second quarter net income of $20.3 million compared with $27.4 million in the second quarter of 2008, a decrease of $7 million. Net income includes amortization of the deferred reinsurance gain related to the …
American International Group, Inc. (AIG) reported its first quarterly profit since the third quarter of 2007, reflecting stabilization in some of its businesses and positive valuation changes. AIG, which received $180 billion of federal bailouts, said it also achieved several …
American International Group Inc., which today reported its first profit since 2007, has named former American Express Co. chief executive Harvey Golub as its non-executive chairman. Golub replaces Edward Liddy, who is resigning as both chairman and chief executive officer …
Allianz disappointed investors on Friday as its property/ casualty insurance business missed expectations even as improving financial markets helped group net profit rise by a fifth in the second quarter. Net profit at Europe’s biggest insurer swelled to 1.9 billion …
For one quarter at least, Warren Buffett may look like the Oracle of Omaha again. Berkshire Hathaway Inc., Buffett’s insurance and investment company, may end six straight quarters of lower net earnings, including its first quarterly loss since 2001, when …
Shares of battered financial companies including insurer American International Group Inc. and lender CIT Group soared on Wednesday, as investors rushed to buy shares to cover short positions in the companies. AIG shares closed up 62.7 percent on the New …
A bill to rescue North Carolina’s coastal insurance plan handily passed the state Senate on Wednesday by a 42-5 vote, the same day it won approval from a Senate committee. Because the Senate version differs from the House version over …
American International Group’s former chief executive Hank Greenberg agreed to pay $15 million to settle government allegations that he had cooked the books to inflate the insurer’s earnings in the first half of this decade, the Securities and Exchange Commission …
The North Carolina General Assembly has approved a bill to reform the state’s coastal insurance system that caps private insurers’ liability for any funding shortfall in the state-backed Beach Plan, reduces coverage for property owners who get coverage in the …
A special committee of Colorado lawmakers is evaluating Pinnacol Assurance, to examine what role the state should have in managing the quasi-governmental workers’ compensation insurer’s business. Ken Ross, Pinnacol’s president and CEO, has said he would like to make the …
