Investment Officers
Goldman Sachs to Sell Its European Insurance Business
Goldman Sachs Group Inc. said it probably will sell a majority stake in its European insurance business in the next 12 months. The business, known as Rothesay Life Ltd. and run by Addy Loudiadis, had ...
Swiss Re Reports Net Gain But Underwriting Loss Due to Disaster Claims
Swiss Re Ltd., the world's second- biggest reinsurer, reported its first quarterly underwriting loss since 2011 after a surge in claims from natural catastrophes and man-made disasters. The combined ...
Nuveen Investments Sues AIG, Former Executives Alleging Securities Fraud
Twenty-five Nuveen Investments Inc. funds sued American International Group Inc., claiming the company committed securities fraud in the months leading up to the U.S. financial crisis in 2008. Also ...
Nigeria Taking Steps to Become Islamic Finance Center
Nigeria is gradually opening up to Islamic finance, a move that could bring non-interest banking to over 80 million Muslims and develop one of Africa's fastest-growing consumer and corporate banking ...AIG’s Bond Portfolio Dropped $9 Billion Due to Interest Rate Rise
American International Group Inc., the insurer that repaid a U.S. bailout last year, said a surge in interest rates in the second quarter fueled a $9 billion reduction in its bond portfolio as ...
Insurer Loses Lawsuit Over $560 Million in U.S. Taxes
John Hancock Life Insurance Co.'s claims for deductions for a series of leveraged lease transactions were denied by the U.S. Tax Court, a decision that could cost the company as much as $560 million. ...
Allstate’s Mortgage Securities Suit Against Goldman Sachs Discontinued
Allstate Corp.'s 2011 lawsuit against Goldman Sachs Group Inc. over the alleged fraudulent sale of residential mortgage-backed securities has been discontinued, court records show. The insurer sued ...
Third Point Reinsurance Plans to Raise Up to $322.2M in IPO
Third Point Reinsurance Ltd., which counts hedge-fund manager Daniel Loeb as a founding shareholder, said it plans to raise as much as $322.2 million in an initial public offering. The company, ...