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AIG former CEO remembered for leading the insurer’s revival

By: Mark A. Hofmann

Published March 03, 2015 - 10:16am CST

Former American International Group Inc. President and CEO Robert H. Benmosche, who died Friday in New York after battling cancer for five years, will go down in history as the executive who led the well-documented turnaround of the insurance giant.

Former AIG chief Robert Benmosche dies at 70

By: Mark A. Hofmann

Published March 01, 2015 - 6:00am CST

Former American International Group Inc. President and CEO Robert H. Benmosche, who had battled cancer for five years, died Friday in New York. He was 70.

2015 Innovation Award winners recognized

Published March 01, 2015 - 6:00am CST

The 2015 Business Insurance Innovation Awards showcase the best new products and services launched over the past year for risk managers. This awards program, which started in 2010, recognizes innovation in the insurance and risk management sector, and the high caliber of the winning entries shows that commercial insurers, brokers and other service providers continue to break new ground with their ...

Ex-AIG leader Benmosche dies at 70

By: Mark A. Hofmann

Published February 27, 2015 - 1:20pm CST

Former American International Group Inc. President and CEO Robert H. Benmosche, who had battled cancer for five years, died Friday in New York. He was 70.

AIG turnaround still a work in progress

By: Matthew Lerner

Published February 13, 2015 - 1:06pm CST

Despite a sharp fall in profit in the fourth quarter of 2014, American International Group Inc. is making progress in improving its business, but the insurer has a ways to go before the years' long turnaround is complete, according to analysts.

AIG quarterly earnings miss as corporate category underperforms

Published February 12, 2015 - 3:27pm CST

(Reuters) — Insurer American International Group Inc. reported lower-than-expected fourth-quarter earnings on Thursday, hurt by the performance in its corporate category.

AIG unit leads Anthem's cyber coverage

By: Judy Greenwald

Published February 06, 2015 - 5:08pm CST

An American International Group Inc. unit is the primary cyber insurer for Anthem Inc., which this week disclosed a massive data breach affecting about 80 million customers and employees, insurance market sources say.

AIG leads coverage of crashed TransAsia plane in Taiwan

By: Sarah Veysey

Published February 04, 2015 - 11:29am CST

American International Group Inc. leads the insurance coverage for the TransAsia Airways turboprop plane that crashed into a river in Taipei, Taiwan, on Wednesday, killing at least 12 people, sources said.

Insurers get earlier warning on financial oversight, but concerns remain

By: Mark A. Hofmann

Published February 01, 2015 - 6:00am CST

The Financial Stability Oversight Council's plan to inform nonbank financial companies earlier that they're being considered for tighter regulation is a welcomed move, but falls short of addressing a key insurance industry concern.

Did your celebrity endorser fall from grace? There's insurance for that

By: Judy Greenwald

Published January 29, 2015 - 2:08pm CST

An American International Group Inc. unit is offering limits of up to $5 million through a product designed to help policyholders respond to risks from a celebrity endorser's fall from grace, scandal or unexpected death, the insurer said Thursday.

The 2015 Innovation Awards winners
are …

Published January 23, 2015 - 3:14pm CST

Business Insurance on Friday announced 10 winners of the 2015 Innovation Awards, the publication's recognition program for products and services designed for use by professional risk managers.

International insurance groups promote microinsurance

By: Mark A. Hofmann

Published January 22, 2015 - 1:46pm CST

A group of prominent insurers, reinsurers and brokers on Thursday said it has established a consortium to promote microinsurance ventures in developing countries.

AIG to acquire Irish health insurer

By: Matthew Lerner

Published January 21, 2015 - 3:06pm CST

American International Group Inc. on Wednesday said it is acquiring Cork, Ireland-based health insurer Laya Healthcare Ltd.

CEO of AIG's AerCap unit says will act in shareholders' interest

Published January 20, 2015 - 9:20am CST

(Reuters) — The head of aircraft leasing firm AerCap Holdings N.V., which is 46% owned by American International Group Inc., declined on Monday to be drawn on whether it might buy back stock that could come on the market from its leading shareholder, though he stressed it would act in the interests of its investors.

U.S. Fed plans enhanced capital standards for GE unit

Published November 26, 2014 - 9:11am CST

(Reuters) — The U.S. Federal Reserve on Tuesday proposed to impose tougher capital standards on General Electric's finance unit, one of a handful of non-bank firms deemed critically important to the health of the financial system.

AIG promotes exec to CEO of life, health and disability

By: Mark A. Hofmann

Published November 14, 2014 - 12:15pm CST

Charlie Shamieh has been named CEO of life, health and disability insurance at American International Group Inc., effective in March 2015, AIG announced Thursday.

Insurers, U.K. government working to improve cyber security

By: Sarah Veysey

Published November 05, 2014 - 10:02am CST

LONDON — The U.K. government and a group of leading insurers pledged Wednesday to work together to find ways to better improve cyber security and to develop cyber insurance products and services available for businesses.

Virgin Galactic crash expected to cost insurers $40M-$50M

By: Sarah Veysey

Published November 04, 2014 - 10:12am CST

The fatal crash of the Virgin Galactic SpaceShipTwo spacecraft late last week will cause an insurance loss of between $40 million and $50 million.

MetLife hires top lawyer in bid to escape tougher oversight

Published November 04, 2014 - 10:02am CST

(Reuters) — MetLife Inc. has retained a top Washington lawyer in its bid to escape a plan by the U.S. financial risk council to subject it to far tougher rules, a sign the largest U.S. insurer may be preparing a legal challenge.

AIG reports $2.2B in third-quarter profit

By: Mark A. Hofmann

Published November 03, 2014 - 3:33pm CST

American International Group Inc. reported third-quarter net income of $2.20 billion on Monday, a 3.3% increase from that of the same period a year earlier.

CorPro Underwriting Managers, AIG offer specialty coverages to midsize firms

By: Judy Greenwald

Published November 03, 2014 - 12:14pm CST

CorPro Underwriting Managers, an underwriting unit of Ryan Specialty Group L.L.C., on Monday said it is offering directors and officers, employment practices, fiduciary and crime insurance coverage to small and midsize businesses through a partnership with subsidiaries of American International Group Inc.

AIG to pay $35M fine: New York insurance regulator

Published October 31, 2014 - 3:12pm CST

(Reuters) - Insurer American International Group Inc. will pay a $35 million penalty for violations related to former subsidiaries that solicited insurance business in New York without a license.

International group introduces capital standard formula for insurers

By: Mark A. Hofmann

Published October 23, 2014 - 1:56pm CST

The International Association of Insurance Supervisors on Thursday said it has developed the first global insurance capital standard.

Brokers, insurers need to offer relevant insurance to prosper: Panel

By: Gavin Souter

Published October 13, 2014 - 1:31pm CST

COLORADO SPRINGS, Colorado – Insurers and brokers need to offer relevant products to add value for insurance buyers if they are to prosper in an environment where nontraditional capital continues to enter the market.

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