Global Economy
Zurich Snags Generali CEO Greco to Helm Turnaround Attempt
Zurich Insurance Group AG hired Assicurazioni Generali SpA's Mario Greco as chief executive officer, giving him the task of turning around the company, after losses in its general insurance business ...
Some Analysts See Far-Reaching AIG Strategic Plan as Not Going Far Enough
American International Group CEO Peter Hancock's far-reaching strategic plan to divest assets and return $25 billion to shareholders over the next two years generated the equivalent of a shrug during ...
Cuomo Nominates Corporate Lawyer to Run N.Y. Dept. of Financial Services
New York Governor Andrew Cuomo signaled a shift in New York's oversight of Wall Street, tapping a longtime corporate lawyer to run the state banking regulator previously overseen by an aggressive ...
JPMorgan Will Pay Ambac $995M to Settle Mortgage-Backed Securities Claims
Bond insurer Ambac Financial Group Inc said JPMorgan Chase & Co will pay $995 million to settle disputes related to residential mortgage-backed securities. The settlement will have a positive ...
Insurers in California Face Mandate to Disclose Coal Company Holdings
California's insurance commissioner on Monday asked all insurance companies doing business in the state to voluntarily divest from coal companies and said he will also require insurance companies to ...
AIG CEO Hancock Unveils Plan to Divest Assets, Return $25B to Shareholders
American International Group Inc. plans to return $25 billion to shareholders over the next two years as Chief Executive Officer Peter Hancock divests assets and seeks to boost returns to protect his ...
RLI’s Combined Ratio Stayed Healthy in Q4; Net Earnings Declined
RLI Corp. ended 2015 with a fourth quarter that was flat in terms of net premiums earned and investment income. Net earnings, on the other hand, dove nearly 10 percent. The Illinois-based specialty ...
VW Probe Reportedly Finds Emissions-Cheating Software Was Open Secret
Volkswagen's development of software to cheat diesel-emissions tests was an open secret in its engine development department, Germany's Sueddeutsche Zeitung newspaper said on Friday, citing results ...