Commercial Lines

American International Group contends it never forfeited its right to sue mortgage bankers that sold it virtually worthless mortgage-backed securities, and the insurer says a Federal Reserve official has made inconsistent statements to the court on the matter.

A federal bankruptcy judges decision yesterday to approve the Chapter 9 bankruptcy of Stockton, Calif., increased the possibility that two bond insurers may have to make good on the $380 million in exposure they hold with the city.

A federal bankruptcy judges decision yesterday to approve the Chapter 9 bankruptcy of Stockton, Calif., increased the possibility that two bond insurers may have to make good on the $380 million in exposure they hold with the city.

American International Groups profit growth for next year may be less than investors expect because technology investments aimed at reducing costs of handling claims could come in higher than projected, Sterne Agee & Leach analysts say in a new report.

American International Groups profit growth for next year may be less than investors expect because technology investments aimed at reducing costs of handling claims could come in higher than projected, Sterne Agee & Leach analysts say in a new report.

A U.S. federal judge on Monday approved the city of Stockton's petition for bankruptcy in a case that sets the stage for a lengthy battle between bondholders and the California pension system.