The waters of the finite reinsurance ocean continue to roil, as the Australian Prudential Regulation Authority (APRA) announced that it has launched an investigation into “certain reinsurance practices” involving the Australian subsidiary of Berkshire Hathaway’s General Re. The probe is …
Three days before he resigned as head of American International Group Inc., Maurice ‘”Hank” Greenberg gave his wife 41.4 million of his shares in the insurance company, according to a regulatory filing. The disclosure came on Tuesday, the same day …
Political war broke out this week between Republican New York Gov. George Pataki and Democratic state Attorney General Eliot Spitzer as the two sides traded charges over campaign contributions related to insurance giant American International Group. Pataki and Spitzer are …
On the day when billionaire investor Warren Buffett was interviewed by investigators and said he told them everything he knew, Maurice Greenberg, former chairman of American International Group, revealed that he would not be able to answer questions when he …
New York Attorney General Eliot Spitzer said he disagrees with former CEO Maurice Greenberg’s attorney that accounting mistakes at American International Group were insignificant in their impact. Spitzer also clarified that billionaire investor Warren Buffett is only a witness in …
Minnesota Attorney General Mike Hatch and Willis Group Holdings Ltd. Chairman and CEO Joe Plumeri on Friday announced an agreement relating to Willis’ insurance brokerage practices. Under the agreement, Willis will make payments to its Minnesota clients of an additional …
The accounting investigation swirling around AIG has now spread out across the ocean to reach Bermuda and Germany, as authorities questioned Munich Re about its relations ships with AIG and Island regulatorsd launched itheir own probe into AIG’s activities there. …
New York Attorney General Eliot Spitzer’s “reckless efforts to land himself on the front page” with high-profile investigations of America’s financial institutions are “making it harder to do business and create jobs in New York,” according to state GOP Chairman …
He finally met his match. After more than three decades at the helm of New York-based American International Group, it took less than a month for 79-year-old Maurice “Hank” Greenberg to go from the seemingly ageless, peerless chief executive of …
Although three major proposals to revamp insurance regulation are before legislators in some form, it appears that the industry’s ultimate goal of optional federal charters is nowhere close to fruition. Only the National Association of Insurance Commissioners’ interstate compact is …
