BERLIN— German insurer Allianz SE says board member Oliver Baete will take over as chief executive in May when current CEO Michael Diekmann steps down after more than a decade in charge. Allianz said Thursday that its supervisory board accepted Diekmann's request not to remain as CEO beyond the company's standard age limit of 60. Diekmann has been in charge...» Read More
NAPA, Calif. Aug 28- During Sunday's 6.0 magnitude earthquake, some $75,000 worth of bottles of wine, rum and whiskey flew off the shelves of Aiyaz Masani's liquor store in Napa, California.
Aug 4- Insurer American International Group Inc reported a better-than-expected 12.5 percent rise in quarterly profit, helped by strong performance across its major businesses and the sale of its former aircraft leasing unit.
Aug 4- American International Group Inc reported a better-than-expected 12.5 percent rise in quarterly profit, helped by strong performance across all its key businesses, and the insurer said it would expand its buyback program by $2 billion.
*Q2 oper earnings $1.93/ shr vs. est $2.07. July 22- Property and casualty insurer Travelers Cos Inc reported a steeper-than-expected fall in quarterly operating profit, hurt by bigger catastrophe losses and a slowing pace of premium rate increases.
*Q2 oper earnings $1.93/ shr vs. est $2.07/ shr. July 22- Property and casualty insurer Travelers Cos Inc's quarterly earnings fell short of analysts' estimates as hail and wind storms in the United States increased catastrophe losses.
July 22- Property and casualty insurer Travelers Cos Inc reported a 26 percent drop in quarterly net profit as catastrophe losses rose. The company, a Dow Jones Industrial Average component, said net income fell to $683 million, or $1.95 per share, in the second quarter ended June 30, from $925 million, or $2.41 per share, a year earlier.
July 18- Shares of Trupanion Inc rose as much as 15 percent in their market debut, valuing the pet insurer at $304 million, as investors bet on growing demand among pet owners to insure their cats and dogs.
WASHINGTON, July 17- The U.S. Senate voted overwhelmingly on Thursday to reauthorize a federal terrorism risk insurance program that was created after the Sept. 11, 2001, attacks.
U.S. SENATE VOTES TO RENEW FEDERAL TERRORISM RISK INSURANCE PROGRAM FOR 7 YEARS; HOUSE OF REPRESENTATIVES LIKELY TO TAKE UP EXTENSION NEXT WEEK.
NEW YORK, July 6- When Goldman Sachs' then-senior partner, Gus Levy, suffered a stroke in the middle of a client meeting in 1976 and died shortly after, the bank's management didn't know who would lead the firm.
OTTAWA, June 11- The Organization for Economic Co-operation and Development endorsed the Bank of Canada's accommodative monetary policy on Wednesday but recommended that Canadian authorities tighten mortgage insurance further to promote financial stability. The Bank of Canada has kept its policy rate at 1 percent since September 2010.
June 10- American International Group Inc said Peter Hancock would succeed Robert Benmosche as chief executive and president, effective Sept. 1. Before joining AIG, he was vice chairman of KeyCorp and a former chief financial officer at JPMorgan Chase& Co.
June 10- American International Group Inc said it named Peter Hancock as its new chief executive, effective Sept. 1. "As AIG enters a time of great change and opportunity, we are confident that Peter Hancock is uniquely qualified to lead the company and its employees to future success," AIG chairman Robert Miller said.
June 10- American International Group Inc said it named Peter Hancock as its new chief executive, effective Sept. 1. Hancock, the head of the insurer's global property-casualty business, succeeds Robert Benmosche, who will retire in September. Benmosche will take up an advisory role at AIG, the company said in a statement.
With hurricane season just around the corner, extreme weather outbreaks may put disaster preparedness and recovery plans to the test.
May 12- American International Group Inc's search for its next chief executive has narrowed down to two internal candidates, the Wall Street Journal reported, citing people familiar with the matter.
Lloyd’s of London called on the insurance industry to factor climate change into risk models on Thursday.
May 5- American International Group Inc posted a 27 percent fall in quarterly income, hurt by a drop in earnings from premiums and higher disaster losses in its core property and casualty insurance business. Net premiums earned in its property casualty unit fell 4 percent to $8.23 billion in the first quarter ended March 31, AIG said on Monday.
May 5- American International Group Inc posted a 27 percent fall in quarterly profit on Monday, hurt by higher catastrophe losses at its core property and casualty insurance business. The U.S. insurer's net income fell to $1.61 billion, or $1.09 per share, from $2.2 billion, or $1.49 per share, a year earlier.
April 29- Mortgage and life insurer Genworth Financial Inc reported a better-than-expected rise in quarterly profit, helped by a near-doubling in income from its long-term care insurance business. Genworth, spun off from General Electric Co a decade ago, had years ago written generous long-term care policies offering long periods of coverage.