A stock-market crash could erase as much as $170.3 billion from major cities’ gross domestic product in the U.S. and Canada and is the biggest threat to their economies, Lloyd’s of London said. The losses, which represent about 2 percent …
American International Group Inc., the insurer seeking to cut costs under Chief Executive Officer Peter Hancock, said it will halt employees’ existing pension program in the U.S. and instead focus on 401(k) accounts. Pensions will freeze on Jan. 1, 2016, …
American International Group Inc. said it raised net proceeds of about $500 million selling stock of AerCap Holdings NV as the insurer completed its departure from the airplane-leasing business. The sale of 10.7 million shares ends AIG’s stake in AerCap, …
American International Group Inc. plans to sit out the unprecedented wave of insurance industry deal-making and instead focus on integrating businesses in Japan. The timetable for merging AIU with Fuji Fire & Marine has been pushed back to 2016 or …
EXOR SpA, the Agnelli family’s investment company, agreed to buy PartnerRe Ltd. for about $6.9 billion in its biggest single acquisition in more than a century after the reinsurer scrapped a deal with rival AXIS Capital Holdings Ltd. EXOR, which …
PartnerRe Ltd. investors should vote against a planned merger with rival reinsurer AXIS Capital Holdings Ltd., proxy adviser Glass Lewis & Co. said in a recommendation that’s a victory for hostile bidder EXOR SpA. “The liquidity, certainty and immediate premium …
PartnerRe Ltd. investors should reject a planned merger with rival reinsurer AXIS Capital Holdings Ltd. and instead opt for a bid of more than $6.7 billion from Italy’s EXOR SpA, ISS Proxy Advisory Services said in a report. “A vote …
A three-hour shutdown of the New York Stock Exchange on the same day that a network failure halted all United Airlines flights in the U.S. had people across the country thinking one thing: cyber-attack. It wasn’t, but the July 8 …
For Travelers Cos.’ dealmaking Chief Executive Officer Jay Fishman, sometimes it’s OK to let one get away. Fishman said Tuesday that he opted against buying Chubb Corp., which agreed to be purchased by Ace Ltd. for more than $28 billion. …
AXIS Capital Holdings Ltd. and PartnerRe Ltd. halted preparations for their planned merger after PartnerRe said it is seeking to negotiate with hostile bidder EXOR SpA. “As a result of this latest news, we have decided to suspend all integration-related …
