Investment vehicles set up by Paulson & Co. and Highbridge Capital Management in tax-friendly Bermuda may be under threat from the U.S. Internal Revenue Service. The IRS, in proposed rules published Thursday, said that the favorable treatment enjoyed by insurers …
Willis Group Holdings plc, the third-largest insurance broker, offered to buy the 70 percent of Gras Savoye that it doesn’t already own to expand in France, Eastern Europe and the Middle East. Willis will pay 550 million euros ($590 million), …
Willis Group Holdings plc’s Rafal Walkiewicz and Michael Guo, who were promoted last week to lead the investment-banking operation, are focusing on Asia as they vie with Wall Street in advising insurance takeovers. The co-chief executive officers are leading a …
The Agnelli family’s EXOR SpA, known for investments in cars and soccer, is dismissing the prevailing reinsurance strategies as it seeks to push into the industry with a $6.4 billion takeover. EXOR is shunning the idea that it should take …
American International Group Inc. named Douglas M. Steenland as the insurer’s seventh chairman since 2005, replacing Steve Miller who oversaw the promotion of Peter Hancock to chief executive officer last year. Steenland, the former CEO of Northwest Airlines Corp., will …
Italy’s billionaire Agnelli family, with a $6.4 billion unsolicited bid for PartnerRe Ltd., is seeking to thwart its target’s planned merger with AXIS Capital Holdings Ltd. EXOR SpA, the Turin-based investment company controlled by the family, offered $130 a share …
American International Group Inc., the largest commercial insurer in the U.S. and Canada, named Michael Brady to the new post of chief technology officer as Chief Executive Officer Peter Hancock works to modernize the company. Brady worked most recently as …
American International Group Inc. registered to sell its 46 percent stake in plane lessor AerCap Holdings NV for a price that values the holding at more than $4 billion, as the insurer streamlines it operations. AIG would offer 97.6 million …
BlackRock Inc., the world’s largest money manager, and Evan Greenberg’s ACE Ltd. raised $800 million for a reinsurance venture, at the low end of the announced range. ABR Reinsurance Capital Holdings Ltd. raised the funds through a private placement, the …
American International Group Inc. Chief Executive Officer Peter Hancock, who took over the top job in September, said he plans to sell more businesses that don’t align with the insurer’s biggest moneymakers. “Floating or selling businesses that lack current or …
