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Allianz SE, Europes largest insurer, is expanding in North America to guard commercial clients against risks in dealmaking.

The pretax cost was about $390 million, led by events in North America, and compares with a previous internal projection of $280 million.

AIG named Michael Lewis chief digital officer as the company turns to technology to simplify operations and gain an edge against smaller rivals.

New Yorks highest court again rejected a bid by former AIG Chairman Maurice Hank Greenberg to dismiss the states decade-old fraud suit against him.

Evan Greenberg, who built one of the worlds largest insurers by combining Ace Ltd. and Chubb Corp. this year, sought to portray the merged company as a more stable alternative than hobbled rivals who are seeking to rebound.

Percy Chubb III retired in 1997 as vice chairman of the company founded by his great-grandfather.

Percy Chubb III retired in 1997 as vice chairman of the company founded by his great-grandfather.

Insurance giant's chief strategy officer joined the company in 1997 under Hank Greenberg.