AIG CEO Hancock to Depart Under Pressure from Icahn, Other Investors March 9, 2017 By Katherine Chiglinsky, Lisa Du and Sonali Basak American International Group Inc. Chief Executive Officer Peter Hancock is stepping down after posting four losses in six quarters, results...
Insurers Caught In Municipal Bond Slump While Awaiting Trump Tax Plan February 28, 2017 By Sonali Basak, Romy Varghese and Lisa Du The disruption in the municipal bond market is punishing some of the most loyal buyers of the debt. The insurance...
AIG to Sell Vermont’s Stowe Mountain Ski Operations After Seven Decades February 22, 2017 By Lisa Du and Sonali Basak American International Group Inc., the insurer that’s been divesting assets to narrow its focus, agreed to sell ski operations at...
AIG’s Losing Streak Continued in Q4 February 15, 2017 By Lisa Du and Sonali Basak American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive...
Greenberg, New York AG Settle Long-Running Reinsurance Dispute February 12, 2017 By Chris Dolmetsch and Sonali Basak Ex- American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg admitted to taking part in two deals to make...
AIG Reinsurance Deal May Spell Short-Term Loss, Long-Term Gain for Berkshire January 25, 2017 By Lisa Du and Sonali Basak Berkshire Hathaway Inc.’s record risk-transfer agreement with American International Group Inc. is so big that Warren Buffett’s company risks posting...
Private Equity Returns Boost Travelers Q4 Profit January 24, 2017 By Lisa Du and Sonali Basak Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit jumped 8.9 percent as investment...
Device Insurer Bought by Allstate for $1.4 Billion Lost Money Last 5 Years January 5, 2017 By Sonali Basak – Allstate Corp. said that the mobile-device insurer that it acquired for $1.4 billion had posted five years of losses...
Allianz Eyes Purchasing Generali’s French Operations: Sources December 16, 2016 By Tommaso Ebhardt, Sonali Basak and Daniele Lepido Allianz SE, Europe’s largest insurer, is in discussions with Assicurazioni Generali SpA as it weighs a bid for the company’s...
AIG Expects to Win Some, Lose Some in Sale of Assets November 21, 2016 By Sonali Basak American International Group Inc., the insurer that’s shrinking to free up capital for shareholder buybacks, said it expects to book...