American International Group Inc., the insurer stung by losses on higher-than-expected claims costs, said Swiss Re AG has agreed to take on some of the company’s risks tied to casualty policies. The two-year reinsurance deal will help AIG be more …
Dan Loeb’s reinsurer cited risks tied to regulation as the Internal Revenue Service and U.S. Senator Ron Wyden work to limit what the lawmaker called a “tax loophole” used by hedge fund managers to route investments abroad. Third Point Reinsurance …
Third Point Reinsurance Ltd., which counts on Dan Loeb to oversee investments, swung to a profit in the fourth-quarter as the hedge fund manager’s results improved before a January slump. Net income was $42.2 million, or 39 cents a share, …
Allianz SE, Europe’s biggest insurer, struck a deal to limit risks in the U.S. by transferring policy obligations to reinsurer Enstar Group Ltd. Enstar will assume net reinsurance reserves of about $1.1 billion and cover half of a book of …
Sanford “Sandy” Weill, the former head of Citigroup Inc., has stepped down as chairman of Hamilton Insurance Group, the Bermuda-based company backed by quantitative hedge fund firm Two Sigma Investments. Weill, 82, is retiring effective immediately, and will be replaced …
It’s an “audacious” idea, and Citigroup Inc. acknowledges as much. Google’s parent, Alphabet Inc., should buy American International Group Inc. to expand into financial services, and turn the insurer into a laboratory for innovation, the New York- based bank’s analysts …
American International Group Inc. Chief Executive Officer Peter Hancock won short-term relief at the risk of longer-term challenges by striking an accord with activist investors who want to shrink the company, former CEO Maurice “Hank” Greenberg said. “By doing that, …
John Paulson and Carl Icahn, who became billionaires by identifying mispriced securities and pushing for corporate shakeups, face a new challenge after winning seats on the board of American International Group Inc., the insurer that’s been too big to manage …
American International Group Inc. plans to exit at least half the hedge funds in which the insurer is invested, according to people familiar with the company’s portfolio. The insurer has holdings in more than 100 funds and plans to cut …
Allstate Corp., the largest publicly traded U.S. car and home insurer, said fourth-quarter profit fell on a surge in auto claims. Net income declined 41 percent to $489 million, or $1.18 a share, from $824 million, or $1.86, a year …
