Boardroom Agenda
As Promised, AIG Scales Back Hedge Fund Investments
American International Group Inc. reduced bets on event-driven and long-short strategies as the insurer scaled back hedge fund investments. Event-driven holdings were cut 41 percent to $700 million, ...
AIG’s Commercial Combined Ratio Climbed to 102.1; Insurer Discloses $3B Buyback
American International Group Inc. said it will buy back $3 billion of stock after second-quarter profit climbed 6.3 percent, helped by asset sales. The insurer climbed in extended trading in New ...
Mutual Insurers Rebound (Slightly), Though Threats Remain: Swiss Re
Mutual insurance companies have gained back some of the global market share they lost due to demutualizations in recent years. Those gains are threatened, however, by new financial regulations, ...
Ironshore Owner Fosun Plans Massive Asset Sale to Reduce Debt
Fosun Group, one of China's most acquisitive conglomerates, is preparing to sell as much as 40 billion yuan ($6 billion) in assets as it focuses on raising its credit rating to above junk. After ...
Kemper Wins A.M. Best Ratings Affirmation, Plus Warnings of Limited Growth
Kemper Corp. won some ratings affirmation validation from A.M. Best, but that good news is paired with a warning of the insurer's limited growth potential down the line. A.M. Best affirmed the ...
The Hartford Completes $168M M&A Deal for E&S Outfit Maxum Specialty
The Hartford Insurance Group (HIG) has completed its acquisition of Maxum Specialty Insurance Group for $168 million in cash. The transaction, announced in March, closed on July 29. Maxum will ...
Executives On The Move at BHSI and AXIS
Berkshire Hathaway Specialty Insurance named a new executive to lead and launch its cyber liability product line in New Zealand. AXIS Capital Holdings hired a former CNA executive for a senior, U.S. ...
AIG CEO Peter Hancock is Vulnerable, With Q2 Profit Expected to Plunge
The clock is ticking for Peter Hancock. The American International Group Inc. chief executive officer has posted three straight quarterly losses and will probably report Tuesday that profit in the ...