American International Group, Inc. (AIG) Chairman M.R. Greenberg announced that the AIG Board of Directors has elected Martin J. Sullivan and Edmund S.W. Tse co-chief operating officers of AIG. In addition, the Board has elected Sullivan Vice Chairman and Howard …
It’s almost inevitable that after every major disaster some individuals will try to profit from the situation; therefore, it came as no real surprise when Manhattan District Attorney Robert M. Morgenthau announced charges against 22 people for falsely filing for …
Three months of wrangling over reforming Pennsylvania’s medical malpractice insurance system may be at an end with the passage of House Bill 1802 by a 196 to 1 margin, following its unanimous approval in the Senate. Governor Mark Schweiker, who’s …
The National Association of Insurance Commissioners (NAIC) will host the International Issues Conference Feb. 28 and March 1, in Washington, D.C. The seminar is designed to explore recent developments in international insurance regulation and global insurance markets as well as …
The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
Japan’s ailing Fuji Fire & Marine Insurance Ltd. has reached an agreement with American International Group, and Orix Corp., Japan’s largest leasing company, to provide additional capital of 34.4 billion yen ($256.3 million). AIG, whose AIU unit already has a …
French-based AXA Group announced that its total consolidated revenues for the year 2001 were € 74.854 Billion ($65.44 billion), a 2.1 percent increase over the group’s 2000 results. Essentially AXA’s gross income stayed almost flat as revenues from life and …
Boston-based Applied Insurance Research, Inc. (AIR), a leading catastrophe modeling firm, has released the 2002 versions of its earthquake and typhoon models for the Asia-Pacific region, in time for the April 1st renewals of reinsurance coverage for Japanese insurance companies. …
Japan’s largest insurer, Tokio Marine & Fire Insurance Co. Ltd., has dropped plans to to merge its life insurance units with the country’s 6th largest life insurer, Asahi Mutual Life Insurance. Asahi, like many Japanese insurers and banks, suffers from …
