American International Group's (AIG) life and retirement business has purchased Woodbury Financial Services from The Hartford, for an undisclosed sum. The acquisition follows a definitive agreement that was signed on 31 July 2012. On ...
Tags: AIG, life and retirement business, purchased, Advisor Group
Allied World Assurance (AWH) has hired Kevin Maloney as vice president of its excess casualty division and will report to US Property and Casualty senior vice president Joe Cellura. In the new role, Maloney will be responsible for the ...
Tags: Allied World Assurance, Kevin Maloney, casualty underwriter, insurance
Beazley in Chicago has appointed Pamela Sfikas, a management liability underwriter, to strengthen the company's US team. Pam will specifically focus on building the EPL, Private Company D&O and Fiduciary books of business in the country. ...
Tags: Beazley, Pamela Sfikas, liability, insurance
ProSight Specialty Insurance has hired Mark Popolano as its Chief Information Officer, as part of its strategy to continue hiring elite industry leadership. With experience in property and casualty insurance, Popolano had held service ...
Tags: ProSight Specialty Insurance, Mark Popolano, Chief Information Officer
Allied World Assurance Company Holdings (AWH) has launched a new Construction Casualty division to offer commercial general liability and commercial automobile as well as railroad protectives and owners and contractors protective. The new ...
Tags: AWH, construction casualty division, commercial liability
American International Group has agreed to pay over $300m to settle dispute with states over death benefits payments which remained unclaimed. California State Controller's office spokesman Jacob Roper said that the underwriter will ...
Tags: AIG, dispute, benefits payment, death benefits
US insurer American International Group (AIG) has launched a sale proceed in Hong Kong to offload $2bn worth of ordinary shares of AIA by placing it to certain institutional investors. The fund raised by the sale of the proposed shares ...
Tags: AIG, ordinary share, insurance company, insurance
US insurer American International Group (AIG) has launched an enhanced general liability program to provide coverage for construction clients facing Occupational Safety and Health Administration (OSHA) investigations. Dubbed OSHA Assist, ...
Tags: OSHA Assist, insurer, Occupational Safety, Health Administration
American International Group (AIG) said that the US Department of the Treasury has set an offer price of 30.50 per share for its 163,934,426 shares. The recent move to offload the AIG's share is a step ahead to free the money, it invested ...
Tags: American International Group, underwriter, Stock, insurance
The Federal Reserve Bank of New York (New York Fed) has completed the sale of the remaining securities in the Maiden Lane III (ML III) portfolio. The apex banking regulator said that it garnered a net gain for the benefit of the public of ...
Tags: New York Fed, remaining securities, Maiden Lane III, finance
General Re's former chief executive Ronald Ferguson and four other executives have struck a deal with the US government to prevent a second criminal trial over allegations of creating fake reinsurance transactions to strengthen American ...
Tags: General Re, criminal trial, fake reinsurance, insurance
New Jersey-based Prudential Financial has reported first-quarter net loss for its financial services business at $988m or $2.09 per share, compared to net income of $539m or $1.10 per share during the same period in 2011. Financial ...
Tags: Prudential Financial, financial service, net income, quarter 1, finance
New York based insurer the Navigators Group has appointed Jennifer Yang as chief risk officer, who will oversee its enterprise risk management worldwide. The company said that Yang will report to Ciro M DeFalco, senior vice president and ...
Tags: Navigators Group, chief risk officer, risk management, insurance
The Federal Reserve Bank of New York is all set to dispose more than $7bn in face value of “toxic” securities related to the government bailout of American International Group (AIG). The central bank of the US has planned to ...
Tags: NY Fed, face value, government bailout, insurance, AIG
US based underwriter Chartis, a division of AIG insurers has incorporated PLL Power Pack Protect to its NextGen Protection suite of industry specific insurance products. The newly added insurance policy has been developed to address ...
Tags: Chartism, AIG, PLL Power Pack Protect, specific insurance products