News
Swaps Repair Sought as Governments Trash Insurance: Euro Credit
The credit derivatives market is undergoing its biggest overhaul in a decade with proposals to make sure that bondholders can be compensated for losses imposed as part of bank rescues. Flaws revealed ...
AIG to Form Agency Distribution Channel with People’s Insurance Co. of China
American International Group Inc., People's Insurance Company of China (PICC) and PICC Life Insurance Co. Limited (PICC Life) said that they have entered into a joint venture agreement to form an ...
Majesco’s Fall ’26 Product Release Accelerates the Journey to a Frontier Firm We are standing at the edge of a...
Allstate Settles Mortgage-Backed Securities Suit Against Citigroup
Allstate Corp. and Citigroup Inc. agreed to settle a lawsuit filed by the insurer in New York state court accusing the bank of fraudulently selling hundreds of millions of dollars of mortgage-backed ...
Oklahoma Tornado to Cost Insurers Up to $3.5 Billion, Says RMS
The tornado that leveled an Oklahoma City suburb last week probably cost insurers $2 billion to $3.5 billion in claims, according to catastrophe modeler Risk Management Solutions Inc. The estimate ...
New York State: Ex-AIG Chief Greenberg Should Face Trial
Hank Greenberg should still face trial over sham transactions he is accused of orchestrating while he was head of American International Group, even though New York has dropped most of its claims ...
Latest AIG Defections: Celmer, Matson to Fireman’s Fund; Bronstein to Navigators
Allianz SE said its Fireman's Fund unit in the U.S. hired Jennifer Celmer from American International Group Inc. to lead sales of personal insurance products to wealthy individuals. "Celmer brings a ...
Indian Refiners Decline Iran Insurance Offer
Iran has offered insurance to Indian refiners in a bid to boost its crude sales, industry sources said, though some oil executives warned the plan would not remove the threat of western sanctions. ...New York Regulator Requests Details on Insurers’ Cyber Security Plans
New York's top financial regulator has asked some of the largest U.S. insurance companies to disclose details on their preparedness for cyber attacks, following a similar request to major banks ...