News
USAA CEO and President Robles Retiring in 2015
On Friday, USAA CEO and President, Maj. Gen. Josue "Joe" Robles Jr., U.S. Army (Ret.), announced that he will retire from USAA in the first quarter of 2015. "It has been my privilege to work at USAA ...
Federal Reserve Releases Transcripts from 2008 Financial Crisis Meetings
The board of governors of the Federal Reserve System has released transcripts, presentations and other historical materials from the Federal Open Market Committee meetings of 2008 that took place ...
British Floods Hit Aviva, RSA, Direct Line
Aviva Plc, RSA Insurance Group Plc, and Direct Line Group Plc are poised to bear the brunt of losses from flooding in Britain that is estimated to cost the industry as much as 1 billion pounds ($1.7 ...
What Might Happen If El Nino Returns
Global cocoa prices have rallied to 2-1/2-year highs on worries El Nino could return in 2014, while other agricultural commodity markets could also be hit by the spectre of the weather anomaly. El ...
Greenberg’s Post-AIG Conglomerate: a Mini Berkshire Hathaway?
Since his ouster from American International Group Inc. in 2005, Maurice "Hank" Greenberg has been quietly building an insurance and investment conglomerate that people close to him describe as a ...
Vermont Hopes LIMA Law to Attract Runoff Business Mirrors Success of Captives
A new law in Vermont would soon authorize the state to license and regulate specialized Vermont-based companies whose only purpose would be to assume and manage closed blocks of non-admitted ...
AIG U.S. P/C Subs’ Ratings Stable In Spite of Reserve Deficiency: A.M. Best
Rating agency A.M. Best announced Thursday that it affirmed financial strength ratings for AIG's U.S. property/casualty subsidiaries at "A," noting that an estimated reserve deficiency has been ...
Meditation Good for Business Executives, Not Just Monks: Third Point’s Loeb
Daniel Loeb, the billionaire founder of activist hedge-fund firm Third Point LLC, said spirituality is good for business. "Meditation, contemplation -- it's not just for monks and hermits," Loeb, 52, ...