American International Group, the world’s biggest insurer [by capitalization], replaced CEO Martin Sullivan on Sunday, June 15, after it suffered two quarters of record losses from risky mortgage bets and its share price more than halved over the past year. …
New York Attorney General Andrew Cuomo has tried to block a request by the former head of American International Group Incto delay a deposition on three-year-old allegations of financial misconduct. Former AIG CEO Maurice “Hank” Greenberg should be deposed “soon …
American International Group Inc. will have to surrender certain privileged documents to its former chief executive, according to a New York Court of Appeals ruling Thursday. Maurice “Hank” Greenberg, who ran AIG for nearly four decades, has been seeking the …
It didn’t take long for a number of angry shareholders of Insurance Australia Group (IAG) to exert enough pressure to force the summary resignation of CEO Michael Hawker. IAG’s board rejected the A$8.2 billion (US$7.878 billion) offer last week (See …
The Chubb Corp. reports that Thomas F. Motamed, vice chairman and chief operating officer, will retire from Chubb effective on June 6, 2008. Motamed has accepted the position of chairman and chief executive officer of CNA Financial Corp. and will …
Aon Re Global has named Jan-Oliver Thofern as the new CEO and Chairman of its German subsidiary, Aon Ruck, the largest reinsurance broker in the country. He was previously a member of the Company’s Executive Committee. Thofern succeeds former CEO …
Maurice “Hank” Greenberg’s withering criticism of American International Group Inc. has yet to win widespread support for a revolt against the current management of the giant insurer he used to run. There is no question that AIG’s $13 billion in …
Bermuda-based Arch Capital Group Ltd. has announced that Mark Lyons has been promoted to the position of Chairman and CEO of Arch Worldwide Insurance Group, effective July 2, 2008. He joined Arch in 2002 and currently serves as President and …
American International Group Inc Chairman Robert Willumstad said Wednesday the global insurance giant’s directors stand behind Chief Executive Martin Sullivan, fending off concerns raised by investors frustrated by two quarters of record losses. Willumstad, speaking at AIG’s annual shareholder meeting, …
Louisiana’s insurer of last resort collected $4 million extra in reinsurance from the 2005 hurricanes and, at the suggestion of the state insurance commissioner, rewarded its chief executive with a 10 percent raise. The $4 million collection by the Louisiana …
