American International Group Inc., the largest commercial insurer in the U.S. and Canada, named Michael Brady to the new post of chief technology officer as Chief Executive Officer Peter Hancock works to modernize the company.
BlackRock, the worlds largest money manager, and Evan Greenbergs Ace, are forming a reinsurance venture that is seeking to raise $800 million to $1.3 billion.
Allstate agreed to settle a 2011 lawsuit accusing Morgan Stanley of fraud over more than $100 million worth of mortgage-backed securities in which the insurer invested.
Deere & Co., the worlds largest manufacturer or agricultural machinery, agreed to sell its crop insurance segment to Farmers Mutual Hail Insurance Co. of Iowa, retreating from a business that suffered years of losses.
The Federal Reserve Board of Governors didnt want to bail out AIG with an $85 billion loan, preferring that the insurer find a savior in the private marketplace, the Feds top lawyer told a judge.
A confidential report and a fired examiners hidden recorder penetrate the cloistered world of Wall Streets top regulatorand its history of deference to banks.
In Maurice Hank Greenbergs telling, the $182 billion taxpayer bailout that saved AIG and perhaps all of Wall Street during the 2008 financial collapse was a government rip-off.