State regulators from across the country say that the problems at parent company American International Group are unlikely to trickle down to affect its insurance operations that come under their regulatory supervision. The commissioners also maintain that conservative, state-based regulation …
Farmington Conn.-based FMG Acquisition Corp.’s stockholders approved a merger with United Insurance Holdings L.C., a Florida based homeowners underwriter and selected small business insurer. As a result of the Sept. 29 merger, FMG will change its name to United Insurance …
Amercian International Group is selling its stake in a London airport. Global Infrastructure Partners (GIP) said it has entered into a definitive agreement to acquire AIG-Financial Products’ 50 percent interest in London City Airport. The transaction is expected to close …
State insurance commissioners have lashed out at members of Congress who are blaming state regulation for the problems of American International Group (AIG) and using the AIG crisis to bolster their advocacy for federal regulation. The state regulators spoke out …
A new survey shows that nearly one in three doctors in Connecticut are not happy practicing in the state and are considering changing jobs or moving. The University of Connecticut Heath Center’s Institute for Public Health Research surveyed nearly 1,100 …
The Chubb Corp has named Richard G. Spiro executive vice president and chief financial officer, effective Oct. 1. Spiro, 44, succeeds the retiring Michael O’Reilly, who will remain at company until the end of 2008 to assist in the transition. …
Limited Options “In our view, AIG’s options are limited.” —Atlantic Equities analyst Alan Devlin, citing the giant insurer American International Group’s deteriorating stock price, and a more than tripling in AIG credit spreads since May. Fake Insurance Is a Real …
Arthur J. Gallagher & Co., Wm. W. George & Associates Arthur J. Gallagher & Co. has acquired Dallas-based retail insurance broker Wm. W. George & Associates Inc. Terms of the transaction were not disclosed. Established in 1972, Wm. W. George …
Taxpayers In At Least 20 States Could Face Multi-Billion Dollar Tax Burden Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar burden on taxpayers in at least 20 …
As Losses Mount for Insurers, More Proposals for a National Solution Emerge Neither Gustav nor Ike walloped the property/casualty insurance industry the way Katrina did but there is still concern in insurance and reinsurance circles over the cumulative effect of …
