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American International Group Inc. Chief Executive Officer Peter Hancock hired former colleague Doug Dachille to oversee the insurers investment portfolio of more than $350 billion, and agreed to buy his firm.
Hartford Financial Services Group Inc., the insurer that has been using excess capital to repurchase shares and redeem debt, said it will be able to shift strategies to rebuild the company and possibly pursue acquisitions.
Marsh & McLennan Cos., the largest insurance broker by market value, is seeking ways to cut tax obligations as rivals shift to Europe, where rates are lower.
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