Bailed-out insurer American International Group Inc. rebranded its property/ casualty business under the name Chartis Monday and said it would put the equity for the division into a separate company — key steps toward a sale of at least part …
AIU Holdings reported the formation by American International Group, Inc. (AIG) of a special purpose vehicle (SPV) into which AIG intends to contribute the equity of AIU Holdings. The company also reported the appointment of Kristian P. Moor as president …
President Barack Obama, citing a new White House study suggesting that small businesses pay far more per employee for health insurance than big companies, said Saturday the disparity is “unsustainable — it’s unacceptable.” “And it’s going to change when I …
Reno, Nev.-based Employers Holdings Inc., a company whose subsidiaries are specialty providers of workers’ compensation insurance focused on small businesses, will review the company’s second quarter and year-to-date 2009 financial results during a conference call and Webcast at 10:30 a.m. …
The Bermuda-based Arch Capital Group Ltd. reported net income available to common shareholders for the 2009 second quarter at $152.1 million, or $2.43 per share, compared to $192.3 million, or $2.92 per share, for the 2008 second quarter. For the …
U.S. property/casualty insurer Chubb Corp posted a higher quarterly profit on Thursday, beating Wall Street expectations, as investment gains and lower underwriting losses offset declining policy sales. Second-quarter net income rose nearly 18 percent to $551 million. “These results were …
Despite a slight drop in total revenues, Bermuda-based Platinum Underwriters Holdings reported net income for the second quarter of 2009 of $98.1 million, compared to $99.755 million in Q2 2008. On a diluted earnings per share basis, however, Platinum returned …
Warren Buffett’s Berkshire Hathaway Inc. this week lowered its stake in credit ratings provider Moody’s Corp. to 16.98 percent from 20.4 percent, the first reported reduction since 2000. The sale of about 8 million shares was revealed three months after …
Wells Fargo’s insurance operations recorded $595 million in noninterest income for the quarter ended June 30, 2009, compared to $550 million in noninterest income for the same period in 2008. For the six months ended June 30, 2009, the company …
Health insurance advisors, independent agents and brokers, consultants and employee benefit specialists combined forces again recently to voice their concerns over the single most important issue for insurance providers today: opposition to a public insurance option as part of any …
