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Global Business
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NEW YORK (Bloomberg)—American International Group Inc. dropped a plan to sell a stake in its Asian unit ahead of an initial public offering in November to avoid delaying the sale, two people with knowledge of the matter said. Read more: |
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Global Business
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WILMINGTON, Del. (Bloomberg)—Former American International Group Inc. top executive Maurice R. Greenberg agreed to a $90 million settlement of lawsuits alleging he deceived investors while running the insurer, according to a court filing. Read more: |
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PEMBROKE, Bermuda—Chief Financial Officer David Greenfield has resigned from AXIS Capital Holdings Ltd. effective at the end of November, the Bermuda-based insurer and reinsurer said Thursday. Read more: |
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Global Business
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WASHINGTON (Reuters)—Chicken feed contaminated with salmonella bacteria could have caused the outbreak at two Iowa producers that sparked a recall of more than a half billion contaminated eggs last week, U.S. regulators said Thursday. Read more: |
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DALLAS—A new program to help employers ensure their health benefits improve the health of their employees has been launched by the Dallas-Fort Worth Business Group on Health. Read more: |
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Global Business
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SANTIAGO, Chile (Bloomberg)—Chile is tapping the United States' National Aeronautics and Space Administration and domestic Navy on how to maintain the health of 33 miners facing a three-month wait before being rescued from a collapsed gold and... Read more: |
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LONDON (Bloomberg)—Chaucer Holdings P.L.C., a Lloyd’s of London insurer, posted a 58% drop in first-half profit as investment returns fell and the company faced claims related to the earthquake in Chile and the Deepwater Horizon oil spill. Read more: |
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NEW YORK (Bloomberg)—CNA Financial Corp., the insurer that hasn’t paid a common stock dividend since 2008, must manage capital carefully so it can expand when markets improve, said the CEO of the company’s parent, Loews Corp. Read more: |
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WASHINGTON (Reuters)—The U.S. Centers for Disease Control and Prevention is backing away from its decades-old estimate of the number of people who die annually from seasonal flu, instead saying deaths vary widely from year to year. Read more: |
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Global Business
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HONG KONG (Reuters)—China Life Insurance Co. Ltd. said it has not held talks with American International Group Inc. since March, despite reports it may be part of a Chinese consortium that aims to buy 30% of AIA Group Ltd. Read more: |
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Global Business
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LOUISVILLE, Ky. (Reuters)—Humana Inc. CEO Mike McCallister has been elected to the added post of chairman of the U.S. health insurer's board, effective immediately, the company said Thursday. Read more: |
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NEW YORK—The New York State Supreme Court has awarded Travelers Cos. Inc. $262. Read more: |
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Nearly two-thirds of employers say they intend to make health care plan design changes to shift more costs to employees in 2011, according to a survey released Wednesday. Read more: |
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Global Business
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DENVER—An Oklahoma City school district employee who was demoted to principal and then replaced by a younger worker with similar responsibilities can pursue her age discrimination suit, a federal appeals court has ruled. Read more: |
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Global Business
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SAN FRANCISCO (Reuters)—The world's largest retailer has asked the U.S. Supreme Court to halt a mammoth sex-discrimination case brought by its women workers, according to a Wednesday court filing. Read more: |
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Global Business
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TRENTON, N.J.—A woman's “bystander exposure” to asbestos from washing her husband's work clothes for more than three decades substantially contributed to her mesothelioma, a New Jersey appellate court has ruled in upholding a $7. Read more: |
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HAMILTON, Bermuda—Rating agency Standard & Poor’s Corp. has assigned A- counterparty credit and financial strength ratings to Validus Reinsurance Ltd., a unit of Bermuda-based Validus Holdings Ltd. Read more: |
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Global Business
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HONG KONG (Reuters)—American International Group Inc. is expected to decide by early next week whether to enter formal negotiations with strategic investors for its Asian life insurance business, AIA Group Ltd. Read more: |
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Global Business
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SHANGHAI (Reuters)—Chinese insurers, including New China Life, Taikang Life and Tianping Auto Insurance Co., are preparing a new wave of initial public offerings, the China Securities Journal reported on Wednesday. Read more: |
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Global Business
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NEW YORK (Bloomberg)—American International Group Inc., the bailed-out insurer, disclosed details of Chief Executive Officer Robert Benmosche’s achievements that allowed him to earn a $3.5 million performance-linked bonus. Read more: |
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Global Business
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CHICAGO—Just a single incident of sexual harassment, if severe enough, can violate federal civil rights law, says a federal appellate court in a decision Monday. Read more: |
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