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American International Group Inc. sold coverage to clients with ties to Cuba, a nation sanctioned by the U.S., when the insurer was owned by American taxpayers after its 2008 bailout.
The U.S. Transportation Department issued an emergency order designed to reduce the risks of transporting crude from North Dakotas booming Bakken region by rail, a week after an oil train derailed and burned in Virginia.
Radian Group Inc., the largest U.S. mortgage insurer, said it will purchase Clayton Holdings for $305 million to expand outsourcing services for the home-lending industry.
Hannover Re, the worlds third-biggest reinsurer, reported that first-quarter profit was little changed as rates charged by the industry remain under pressure.
American International Groups property and casualty combined ratio will see improvement this year, Peter Hancock, CEO of AIGs P&C operations, told analysts this morning after problems at the P&C unit drove down operating income.
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