American International Group Inc. laid out a plan Thursday that sets the insurer on an accelerated path for payback of bailout money, but it also increases the risk for the U.S. government. The plan, which comes a little over two …
As Lloyd’s published its first half results, Luke Savage, the chief financial officer, had a busy day on Tuesday. But he spoke briefly with Insurance Journal on some of the issues the report on the first half raised. As detailed …
Liberty Mutual said it is postponing plans for an initial public offering (IPO) of stock for its agency division, Liberty Mutual Agency Corp. The move comes just weeks after the Boston-based insurer filed paperwork for the IPO, which it expected …
Liberty Mutual Agency Corp. postponed indefinitely its planned initial public offering, quashing hopes that the planned $1.2 billion flotation could give a needed jolt to the U.S. IPO market. The property and casualty insurer announced the delay on the day …
Lloyd’s of London reported its interim (6 months to June 30) results today, which could best be described as mixed. Although Lloyd’s posted an overall pretax profit of £628 million [$922 million], this was less than half the amount, £1.322 …
The Lloyd’s of London insurance market revealed that record claims from disasters including the Chilean earthquake and U.S. oil spill halved its profits, and said it saw no respite from a steady decline in prices. Lloyd’s, which traces its origins …
The U.S. Treasury Department said that it expects to earn proceeds $706.26 million from the auction of stock warrants in Hartford Financial Services Group Inc. Treasury said it sold about 52.09 million warrants at an auction price of $13.70 each. …
Bank of Montreal is on the hunt for acquisitions in the United States and China to expand its wealth management operations, while it sees growth in Canada coming from established operations, one of BMO’s top executives said Wednesday. Canada’s No. …
The U.S. Department of the Treasury plans a secondary public offering of 52 million warrants to purchase the common stock of The Hartford Financial Services Group, Inc. at a minimum bid of $10.50 per warrant. The Treasury said that proceeds …
Private U.S. property/casualty insurers’ net income after taxes rose to $16.5 billion in first-half 2010 from $6 billion in first-half 2009, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus increasing to 6.3 …
