American International Group Inc, already a big headache for taxpayers, could leave its shareholders with a migraine. AIG, which is nearly 80 percent owned by the U.S. government, owes taxpayers more than $100 billion. That along with other debt makes …
China modified rules to allow insurance companies to invest as much as three times the previous limit in overseas capital markets, part of a broader reform designed to give them more investment options. The move is seen boosting the investment …
Fremont Michigan InsuraCorp Inc., a Michigan-exclusive property/casualty insurance carrier, reported revenues of $16 million for the second quarter ended June 30, 2010, an increase of 15.6 percent over the second quarter of 2009. Higher loss and loss adjustment expenses (LAE) …
Warren Buffett’s Berkshire Hathaway Inc. said Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts. Operating profit nevertheless soared 73 percent, helped by the February takeover of railroad operator Burlington Northern Santa …
American International Group Inc. reported a $2.7 billion quarterly loss compared to a net profit of $1.8 billion for the same quarter a year earlier. The second quarter 2010 loss was primarily due to a $3.3 billion non-cash goodwill impairment …
Boston-based Liberty Mutual Group reported net income of $220 million for the second quarter of 2010, a decrease of $48 million or 17.9 percent from the same period in 2009. Including the impact of catastrophes, the company’s combined ratio for …
Reno, Nev.-based Employers Holdings Inc. has reported second quarter 2010 net income of $16.5 million compared with $20.3 million in the second quarter of 2009, a decrease of $3.8 million or $0.05 per share. Net income for the six months …
Major European insurance groups weathered a slew of damage claims for storms and the collapse of the Deepwater Horizon oil rig to post stronger-than-expected half-year earnings on Wednesday. But prospects for the rest of 2010 remain cloudy, with low interest …
The Hartford swung to a second-quarter profit of $76 million, rebounding from a $15 million loss in the year-ago period, despite sizable catastrophe losses and several other one-time charges. The earnings reflect profitability for The Hartford Financial Services Group Inc., …
British life insurers reporting half-year results this month plan to simplify their notoriously complex financial statements in a move that could lift their flagging shares. Standard Life, Britain’s fourth-biggest life insurer, two weeks ago became the latest to say it …
