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May 23- American International Group Inc's board is looking for a new director with regulatory experience, as the insurer readies for the government to classify it as big enough to merit greater scrutiny, according to two sources familiar with the situation.
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May 23- American International Group Inc's board is looking for a new director with regulatory experience, as the insurer readies for the government to classify it as big enough to merit greater scrutiny, according to two sources familiar with the situation.
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OTTAWA, May 22- The Canadian government is examining the role of the federal housing agency in providing insurance for mortgage portfolios held by banks, Finance Minister Jim Flaherty said on Wednesday.
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Chris Ludeman, Global President of Capital Markets at CBRE, discusses Taiwan's move to ease property investment rules for insurers and the markets that are likely to benefit.
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Once the dust settles and the victims have been accounted for, Moore, Okla., will begin the gargantuan task of rebuilding itself. It's a task that will take billions of dollars in federal and state aid, insurance claims and charitable donations, the CSM reports.
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NEW YORK, May 21- French President Francois Hollande's predicament is, oddly enough, akin to one Alice faced in Lewis Carroll's 19th century classic. "The situation is much worse in France in the past year," Chaney told me from Paris, where AXA, Europe's No. 2 insurer, is based. " What the queen said to Alice applies to France. "
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A report from the medical examiner's office in Oklahoma confirms 24 fatalities, reports CNBC's Jane Wells.
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A report on the ongoing rescue efforts in Oklahoma, and the impact on insurers, with CNBC's Jane Wells and Mary Thompson; and Joplin City Manager R. Mark Rohr and WeatherFX Chief Meteorologist Paul Walsh, offers insight.
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SANTA FE, N.M.-- New Mexico is switching gears on its plan for a health insurance exchange and initially will partner with the federal government for computer services needed for an online insurance marketplace.
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NEW DELHI/ SEOUL, May 21- India has slashed Iranian oil imports by almost a fifth since December, the sharpest cut among Asian buyers, in a move that should increase its chances of winning a new U.S. waiver next month on sanctions targeting oil trade with Iran.
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WASHINGTON, May 20- The U.S. Senate should cut crop insurance subsidies, the most expensive part of the farm safety net, by $1 billion a year before it passes the new farm bill, the White House said on Monday. The House would make the biggest food stamp cuts in a generation, $20 billion, compared to $4 billion in the Senate.
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NEW YORK-- American International Group Inc. said Monday that it will spend $718.1 million Hong Kong dollars in a rights offering by Chinese insurance company PICC Property and Casualty Company Ltd.. The company is a subsidiary of The People's Insurance Company of China Ltd. and is traded in Hong Kong.
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CAMP HILL, Pa.-- Drugstore chain Rite Aid Corp.' s board of directors has elected former Blue Shield of California Chairman and CEO Bruce G. Bodaken to its board of directors. Rite Aid spokeswoman Ashley Flower said Bodaken's addition brings the board to 10 members and is not tied to the April resignation of Michael Coutu.
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There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.
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*Pilot scheme in Jakarta triggered overcrowding at hospitals. JAKARTA, May 20- When a sick Indonesian baby died after 10 hospitals in Jakarta turned her family away in February, critics blamed a pilot health insurance scheme that had overwhelmed the city's public hospitals.
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DETROIT, May 19- Bond restructurings, negotiated settlements with bondholders and bond insurers, and tough talk with unionized workers are on the agenda as Detroit's emergency financial manager tries to meet a self-imposed, six-week deadline to decide whether the city can get through its financial crisis without a bankruptcy filing.
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LANSING, Mich.-- A continuation of a 1 percent tax on health insurance claims passed Michigan's Senate Thursday, but yet to be resolved is how to ensure the levy brings in enough revenue for Medicaid, which serves 1.9 million low-income state residents. Rick Snyder's proposed expansion of Medicaid eligibility to 320,000 more low-income adults.
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NEW YORK-- Triple-S Management Corp. said Friday that a secondary offering of 5.4 million shares of its stock was priced at an approximately 5 percent discount to its Thursday closing price. Shares of the insurance company fell 19 cents to $18.90 in premarket trading.
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*Rating cut to AA, in line with Moody's, from AA-plus. May 16- Warren Buffett's Berkshire Hathaway Inc had its credit rating cut one notch by Standard& Poor's, which cited a new methodology for evaluating insurers and Berkshire's dependence on its insurance business for dividend income.
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NORTHBROOK, Ill.-- Severe weather led to $216 million in catastrophe losses in April for Allstate Corp., the insurer said Thursday. From April through June of last year, Allstate's catastrophe losses came to $820 million.
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MADISON, N.J.-- Health insurer Humana is selling a toxicology and clinical lab business, a division of its Concentra health care provider, to Quest Diagnostics Inc.. The Madison, N.J., company's first-quarter net income fell 15 percent as people cut back on medical spending and more Medicare reimbursements cut into revenue.