Former AIG chief Maurice “Hank” Greenberg is campaigning for the U.S. government to cut its stake in the insurer to less than 20 percent, saying this would attract new capital to AIG and help taxpayers fully recoup bailout money it …
It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the Securities and Exchange Commission. In May, the SEC approved a …
The U.S. Ninth Circuit Court of Appeals has upheld an arbitration award requiring U.S. Life Insurance Co. to pay reinsurance of more than $500 million to Superior National Insurance Companies, workers’ compensation insurer in liquidation, the California Department of Insurance …
ACE Limited has announced the following earnings guidance for the ACE Group for the full year 2010: — Operating Income per Diluted Share is expected to range between $6.25 and $6.75. — Catastrophe Losses included in our estimated earnings are …
According to the latest figures compiled by the Association of British Insurers (ABI), trade credit insurers paid out a record amount in claims in the third quarter of 2009. The total amount paid in claims was £125 million ($200 million), …
American International Group Inc. has halted efforts to sell a stake in Chartis, as Chief Executive Robert Benmosche focuses on expanding the property and casualty unit, a person familiar with the situation said Tuesday. The move is consistent with Benmosche’s …
The chief executives of Allianz, Europe’s biggest insurer, and ThyssenKrupp, Germany’s biggest steelmaker, have warned of new bubbles that they see developing in global markets. “You know why nothing has changed? There is a lot of cheap money out there. …
A.M. Best Co. issued a bulletin that said it believes that the new “Exposure Draft (ED) Standard on Solvency Requirements for Takaful (Islamic Insurance) Undertakings,” published by the Islamic Financial Services Board (IFSB), “provides a good basis for evaluating the …
Europe’s insurance sector has “fared well relative to banks over the past two years,” a new report from Standard & Poor’s Ratings Services notes. As an example, the study – “European Insurers Withstand Global Economic Conditions, But Resilience Will Likely …
Elderly Should Be Vigilant to Avoid Scams, California State Insurance Commissioner Poizner Warns. The warning comes on the heels of a $15,000 fine against Annuity Services Insurance Center for deceptive advertising practices targeting senior citizens in California. Poizner said seniors …
