Articles by Suzanne Barlyn

SEC Wants More Details from AIG on Berkshire Reinsurance

The U.S. Securities and Exchange Commission told American International Group Inc. to improve disclosures about its use of reinsurance to mitigate losses in its property and casualty unit, according to correspondence made public on Friday. After reviewing AIG’s 2017 annual …

AIG Winds Down Iran Business It Acquired Along With Validus

American International Group Inc. is exiting business activities in Iran that came with a subsidiary it acquired and which now butt up against the sanctions against Iran that have been reimposed by the Trump administration, according to a filing. Validus …

John Hancock Will Only Sell Interactive Life Insurance with Fitness Data Tracking

John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday. …

CEO Duperreault Bets on Underwriting Culture, Greenberg Ways in Restoring AIG to Greatness

Brian Duperreault, who rejoined American International Group Inc. as chief executive officer last year to turn the company around, remembers another era when the insurer was trying to blaze a trail toward greatness. In 1973, Duperreault arrived at AIG’s old …

Prudential Joins Direct-to-Consumer Movement

Prudential is going straight to consumers with its insurance and investment products for the first time in its 143-year history, a move that follows rivals and startups which are already well established in the field. The direct-to-consumer service marks a …

Lloyd’s Provides Insurance for Cryptocurrency Storage

Kingdom Trust, a company that stores digital currency for investors, has secured insurance coverage through Lloyd’s of London to protect against theft and destruction of those assets, the company said on Tuesday. The move by Kingdom Trust, which has $12 …

AIG’s Q2 Profit Drops 17% as General Insurance Fails to Improve

American International Group Inc on Thursday reported a 17 percent fall in quarterly profit as its general insurance business failed to show improvement, missing analysts’ expectations. AIG shares fell more than 5.5 percent to $52.15 after hours. Chief Executive Brian …

Insurers Being Asked About Asbestos-Talcum Exposure After J&J $4.6 Billion Verdict

Wall Street is trying to figure out whether the U.S. insurance industry will bear any costs from a record $4.69 billion judgment against Johnson & Johnson awarded to customers and their families who claimed that asbestos-contaminated talc caused ovarian cancer. …

Global Insurers Reassessing Iran Business In Light of Sanctions Threat

Global insurers are taking stock of how the U.S. withdrawal from an international agreement to deny Tehran nuclear weapons, and threatened sanctions against companies that do business with Iran, could affect them. Insurance broker Arthur J. Gallagher & Co. said …

Weinstein Sues Chubb Seeking Legal Defense Coverage in 11 Sex Harassment Suits

Film producer Harvey Weinstein is fighting back against personal indemnity insurer Chubb Ltd., saying Chubb must pay for his legal defense against 11 lawsuits that accuse him of sexually harassing or assaulting women over the past three decades, according to …