News

Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. will pay a quarterly dividend of 32 cents per share on common stock, payable July 15 to shareholders of record as of June 30.

American International Group Chief Executive Officer Edward Liddy has been asked to testify before a House oversight committee May 6 on what caused the downfall of AIG.

Some buildings constructed of reinforced concrete that were at the epicenter of the April 6 earthquake in Italy's Abruzzo region survived gravitation forces that were off the chart, a survey has found.

Little insurance is available to protect business against the current swine flu outbreak, and managers need to be aware of how to minimize potential infections among staff, experts said.

Following the announcement that Farmers Group Inc. had purchased 21st Century Insurance for $1.9 billion earlier this month, Farmers' chief executive suggested that major job cuts are not in the cards for the new acquisition.

The sale of AIG's auto unit to Zurich's Farmers Group subsidiary will not alter the personal auto landscape, but will allow Farmers to develop an East Coast presence and become a competitor in the direct writer market, experts and analysts said.