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Business Insurance IN FOCUS Video: 4 World Trade Center

Published April 17, 2014 - 9:56am CST

Business Insurance's latest video report explores Silverstein Properties' rebuild of 4 World Trade Center in New York.

Business Insurance IN FOCUS Video: 2014 Risk Management Summit

Published April 07, 2014 - 2:55pm CST

Business Insurance's latest video report explores the 2014 Risk Management Summit held in New York on March 12-13.

AIG sues N.Y. regulators over probe of insurance marketing

Published April 04, 2014 - 9:37am CST

(Reuters) — American International Group Inc. on Thursday sued New York regulators to force them to back off a threatened costly enforcement proceeding over possible violations of state law by a former unit.

AIG unit must pay D&O liability defense costs in Puerto Rican bank case: Court

By: Judy Greenwald

Published April 01, 2014 - 3:02pm CST

An American International Group Inc. unit is obligated to pay defense costs for directors and officers of a now-defunct Puerto Rican bank under terms of its directors and officers liability insurance policy, says an appeals court.

Property/casualty insurers posted high favorable reserve development in 2013

By: Mark A. Hofmann

Published March 27, 2014 - 2:49pm CST

The U.S. property/casualty industry posted its highest level of favorable prior accident year reserve development since 2009 in calendar year 2013, according to an analysis released Thursday by Charlottesville, Va.-based SNL Financial L.C.

GALLERY: 2014 Business Insurance Innovation Awards

Published March 19, 2014 - 10:05am CST

See photos from Business Insurance's 2014 Innovation Awards, presented during Business Insurance’s Risk Management Summit in New York, March 12-13.

2014 Innovation Awards: AIG Multinational Program Design Tool

By: Mark A. Hofmann

Published March 16, 2014 - 6:00am CST

AIG MULTINATIONAL PROGRAM DESIGN TOOL

AIG awards bonuses to top executives, cites risk management

By: Matthew Lerner

Published March 14, 2014 - 12:02pm CST

Several senior executives at American International Group Inc. — including President and CEO Robert Benmosche — received handsome bonuses for 2013 for exceeding business targets.

Business Insurance recognizes risk management innovators

By: Bill Kenealy

Published March 12, 2014 - 8:00am CST

Business Insurance has selected the winners of its 2014 Innovation Awards.

AIG announces new sponsored captive company in Bermuda

By: Rodd Zolkos

Published March 07, 2014 - 1:18pm CST

American International Group Inc. has launched a Bermuda-domiciled segregated accounts company, Grand Isle SAC Limited.

Travelers becomes largest U.S. workers comp insurer: NAIC

By: Sheena Harrison

Published March 05, 2014 - 11:09am CST

Travelers Cos. Inc. was the largest workers compensation insurer in the nation last year, overtaking Liberty Mutual Holding Co. Inc. for the top spot, according to market share data released by the National Association of Insurance Commissioners.

Michael Smith tapped as COO of commercial insurance at AIG

By: Matthew Lerner

Published March 04, 2014 - 2:46pm CST

Michael Smith has been named chief operating officer of the commercial insurance business of American International Group Inc., the company said in a statement Tuesday.

Joseph Tocco promoted to head XL's North American property business

By: Kate Shepherd

Published February 28, 2014 - 9:40am CST

XL Group P.L.C. has named Joseph A. Tocco as chief executive of North American property/casualty, effective immediately.

AIG offers cross-border casualty insurance for mid-market firms

By: Kate Shepherd

Published February 19, 2014 - 1:28pm CST

American International Group Inc. has launched coverage for cross-border casualty risks for U.S.-based mid-market multinational companies, the insurer said Wednesday.

AIG loses bid to delay $8.5B Bank of America settlement

Published February 19, 2014 - 1:18pm CST

(Reuters) — A New York state judge declined to delay court approval of Bank of America Corp.'s $8.5 billion settlement with investors in mortgage-backed securities, rejecting a move by American International Group Inc.

AIG plans to cut global workforce by about 1,900 jobs

By: Matthew Lerner

Published February 14, 2014 - 2:26pm CST

American International Group Inc. expects to trim its global workforce by about 3%, or roughly 1,900 jobs, according to an internal company memorandum.

AIG profit soars to $1.98B in 2013 fourth quarter

By: Mark A. Hofmann

Published February 13, 2014 - 3:49pm CST

American International Group Inc.’s net income for the fourth quarter of 2013 rose to $1.98 billion from a loss of $3.69 billion during the previous year, reflecting light catastrophe losses, AIG said Thursday.

Ex-AIG CEO Greenberg loses appeal of bailout lawsuit against N.Y. Fed

Published January 29, 2014 - 10:54am CST

(Reuters) — A federal appeals court upheld the dismissal of a lawsuit by former AIG CEO Maurice R. Greenberg accusing the Federal Reserve Bank of New York of unlawfully bailing out the insurer at the height of the 2008 financial crisis.

Former AIG exec Iglesias named Allied World North America president

By: Kate Shepherd

Published January 17, 2014 - 11:23am CST

Allied World Assurance Co. Holdings A.G., based in Zug, Switzerland, has named Lou Iglesias president of Allied World North America.

Insurance execs focus on cyber risk insurance market at forum

By: Matthew Lerner

Published January 15, 2014 - 1:57pm CST

NEW YORK — The penetration of cyber risk products and the potential for expanding the market was front and center among issues discussed by insurance industry chief executives at the Insurance Information Institute Inc.'s Joint Industry Forum.

Target has $100M of cyber insurance, $65M of D&O cover: Sources

By: Judy Greenwald

Published January 14, 2014 - 3:05pm CST

Target Corp. has at least $100 million of cyber insurance, including self-insured retentions, and $65 million of directors and officers liability coverage, according to insurance industry sources.

Robert Dickie joins Zurich from AIG as chief of operations and technology

By: Sarah Veysey

Published January 08, 2014 - 9:30am CST

Zurich Insurance Group Ltd. has appointed Robert Dickie as chief operations and technology officer, the insurer announced Wednesday.

AIG gets back to insurance operations with sale of aircraft leasing unit

By: Mark A. Hofmann And Rodd Zolkos

Published December 29, 2013 - 6:00am CST

American International Group's Inc.'s agreement to sell its last major noncore business stands to benefit the company by allowing it to concentrate on its insurance operations.

Allianz Global Corporate & Specialty names new U.S. casualty leader

By: Kate Shepherd

Published December 19, 2013 - 1:43pm CST

Allianz Global Corporate & Specialty A.G. on Thursday announced that Joni Elliott will succeed Jon Prowse as practice leader for casualty for the U.S. market, effective Jan. 1.

AIG to sell aircraft leasing business in $5.4 billion deal

Published December 16, 2013 - 9:48am CST

(Reuters) — American International Group Inc. said it would sell its aircraft-leasing business to AerCap Holdings N.V. in a deal valued at about $5.4 billion, marking the insurer's exit from its last non-core business.

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