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.» Read More
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.
April 24- Property and casualty insurer Chubb Corp reported a weaker-than-expected first-quarter profit, hurt by higher catastrophe losses related to severe winter in the United States. On an operating basis, Chubb earned $1.50 per share, below analysts' average estimate of $1.56 per share, according to Thomson Reuters I/B/E/S.
April 24- Property and casualty insurer Chubb Corp reported a 32 percent fall in first-quarter profit, hurt by higher catastrophe losses related to the severe winter in the United States. The company's net income fell to $449 million, or $1.80 per share, for the quarter ended March 31, from $656 million, or $2.48 per share, a year earlier.
April 22- U.S. property and casualty insurer Travelers Cos Inc reported a 17 percent rise in first-quarter profit, helped by higher underwriting gains and an increase in net investment income. Net income rose to $1.05 billion, or $2.95 per share, for the quarter ended March 31, from $896 million, or $2.33 per share, a year earlier.
April 22- U.S. property and casualty insurer Travelers Cos Inc reported a 17 percent rise in first-quarter profit, helped by higher premiums and net investment income. The company's net income rose to $1.05 billion, or $2.95 per share, for the quarter ended March 31, from $896 million, or $2.33 per share, a year earlier.
SHANGHAI/ HONG KONG, April 8- China's decision to partially relax mergers and acquisition rules in the insurance industry could see global insurance firms expand their footprint in the $288 billion market.
FRANKFURT, April 1- A downward slide in reinsurance prices showed clear signs of accelerating in April contract renewals and is likely to feed through to property and casualty insurance prices before long, broker Willis said on Tuesday.
*Allianz forecasts asset management earnings to fall. FRANKFURT, March 14- Management turmoil at Allianz asset manager Pimco is unlikely to threaten the credit standing of Europe's largest insurer, credit rating agency Fitch said on Friday.
The bill would limit annual increases of any individual policy under the National Flood Insurance Program to 18 percent.
The effects of climate change, "if any," have not affected the insurance market, Warren Buffett told CNBC—adding he's not calculating catastrophe probabilities differently.
FLAHERTY SAYS KEEPING CLOSE EYE ON HOUSING AGENCY CMHC'S MORTGAGE INSURANCE BUSINESS.
American International Group posted earnings excluding items of $1.15 per share on revenue of $8.62 billion, beating Wall Street estimates.
A law that was designed to curb deficits in the national flood insurance program is now the target of repeals.
Feb 5- Allstate Corp aims to grow its share of the U.S. home and auto insurance markets without the need for "abnormally large" rate increases, its CEO said, after the company's profit more than doubled in the fourth quarter. Shares of Allstate, the largest publicly traded home and auto insurer in the United States, rose 2 percent after the bell on Wednesday.