Shares of major insurance companies traded down Thursday, as reports surrounding American International Group Inc. spinning off bad assets circulated amid a big sell-off in the broader market.

Shares of Prudential Financial Inc. surged Tuesday as the insurance sector advanced after Hurricane Gustav passed through the Gulf of Mexico without inflicting massive damage — and the sky-high insurance claims that would have resulted.

Among the stock activity stories for Tuesday, Sept. 2, from AP Financial News:

Britain's second largest bank, Royal Bank of Scotland Group PLC, announced the appointment of three new non-executive directors to its board on Wednesday, in the wake of its 802 million pound (around $1.5 billion) first-half loss on asset write-downs.

It took seven years, but Charles Ulrich did something many people dream about, but few succeed at: He beat the IRS in a tax dispute.

It took seven years, but Charles Ulrich did something many people dream about, but few succeed at: He beat the IRS in a tax dispute.

European earnings were mixed Thursday, with telecoms reporting results in line or above forecasts, while energy companies and financials posted profit declines or figures below market expectations.

Securities regulators from several states raided the St. Louis headquarters of Wachovia Securities, part of Wachovia, as part of a broad investigation into questionable practices involving auction rate securities, Missouri officials said.