Maurice “Hank” Greenberg, former chief executive of insurer AIG, testified before a federal jury on Tuesday that he did not have a fiduciary duty to fund an AIG compensation plan. “I did not view myself as a fiduciary,” Greenberg, 84, …
Witnesses began testifying Tuesday in the civil trial of American International Group Inc.’s former top executive, accused of plundering an AIG retirement program of billions of dollars. Attorney Theodore Wells told jurors Monday in Manhattan that former Chief Executive Officer …
The Jockeys’ Guild and its one-time head have settled a long-running legal dispute, removing one of the last obstacles to the organization closing its bankruptcy proceedings. The settlement filed Friday between the Nicholasville, Ky.-based group and former CEO Wayne Gertmenian …
AIG, days before a high-profile legal fight with a company controlled by former CEO Maurice Greenberg heads to court, promised to use any funds won at trial to repay U.S. taxpayers. “While any relief granted for AIG’s equitable and legal …
The head of Colorado’s state-created workers’ compensation insurance company says the organization could do a better job if it were privatized. CEO Ken Ross told state lawmakers that Pinnacol Assurance has paid $347 million in dividends to policyholders since it …
The American Agricultural Insurance Company (AAIC), based in Schaumburg, Ill., has appointed Janet S. Katz as the company’s new executive vice president and chief executive officer, effective July 1, 2009. Katz is a 20-year veteran of AAIC. She joined the …
Hartford Financial Services Group said on Thursday that CEO and chairman Ramani Ayer, under pressure from shareholders as the 199-year-old insurer struggles with record losses, would retire by the end of the year. The Hartford, Connecticut-based life and property insurer, …
The Bermuda-based Argo Group International Holdings announced that its Lloyd’s operation, Heritage Managing Agency Ltd., has been renamed Argo Managing Agency Ltd. and will conduct business under the brand name of “Argo International.” The rebranding continues the integration of the …
Former Missouri Gov. Roger Wilson has taken over as acting president and CEO of Missouri Employers Mutual. Wilson began May 31 as the leader of the workers’ compensation firm that employs more than 200 people in offices in Columbia, Kansas …
Lloyd’s CEO Richard Ward, in a speech given to a meeting in Tokyo of the Geneva Association, the organization for the study of insurance economics today, called for insurance to play a bigger role in providing vital financial assistance to …
