AIA Group Ltd surged 17 percent in its Hong Kong debut on Friday as investors, chasing exposure to Asia’s fast-growing life insurance business, piled into the record offering in the world’s hottest IPO market. The stronger-than-expected listing will be a …
Environment ministers from around the world tried to wrap up a U.N. meeting to preserve nature on Friday but remained split on targets to fight losses in animal and plant species that support livelihoods and economies. Delegates from nearly 200 …
If Republicans make big gains in U.S. Congressional elections on Tuesday, as expected, Wall Street and big banks will have sweet, but incomplete, revenge on Democrats who drove through sweeping financial reforms against industry opposition. The likeliest outcome of Democrats …
Global regulators called on national authorities on Wednesday to curb the role of credit rating agencies in the financial system, challenging the value of an industry widely criticized in recent years. The Financial Stability Board (FSB) issued recommendations calling for …
The board of bailed-out insurer American International Group on Wednesday said Chairman Steve Miller would become interim chief executive if CEO Bob Benmosche is sidelined by his cancer treatment. AIG said on Monday that Benmosche had cancer and was receiving …
The town of Framingham has agreed to pay $1 million to settle a discrimination lawsuit filed by a social services agency that wanted to open a home for recovering drug addicts in town. The South Middlesex Opportunity Council claimed in …
A Travis County district court has sentenced Joffrey Majors of Parker, Texas on workers’ compensation fraud-related charges. The court sentenced Majors to four years’ deferred adjudication and ordered him to pay $100,000 to Texas Mutual Insurance Co. Majors operated Ameripro …
Florida Republican Rick Scott says that if he is elected governor he will require state-backed Citizens Property Insurance to stop offering multi-peril policies in order to bring its costs in line with premiums, while Alex Sink, Democratic candidate, supports moving …
Two reports from Willis Re analyze the impact the insurance industry faces from the “double hurdles” of Solvency II and the new International Financial Reporting Standard (IFRS) due in 2013.” They explore the “current state of play of these major …
American International Group Inc. may need a successor for Chief Executive Robert Benmosche sooner than it expected, but experts say it is not clear who that would be or how long they would be in charge. AIG said Monday that …
