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15 Apr 2005 10:37 AM
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Next HIH's high-flyer sentenced:
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Ray Williams pleaded guilty in December last year to three charges, including failing to effectively perform his duties as a company director from 1998 to 2000, providing misleading information and overstating operating profits by A$92.4 million.
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15 Apr 2005 08:04 AM
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Former Marsh execs want to start an honest insurance brokerage:
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A new insurance brokerage firm will probably launched by a group of reputable industry executives, to help the insurance business recover from the recent scandals. It was pioneered by the former president of Marsh & McLennan Cos. Robert Clements who was also the founder of ACE Ltd. the preliminary code name for the company is Integro, a Latin word for fresh start. The venture is to be headed by Peter F. Garvey, 49, former co-president of Marsh’s brokerage unit, Marsh Inc.
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14 Apr 2005 02:57 PM
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Culprit of HIH Insurance collapse sentenced to 4 1/2 years:
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A former director of HIH Insurance was sentenced to a prison term Thursday. He received 4½ years for his involvement in Australia’s largest-ever corporate collapse.
HIH
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13 Apr 2005 08:46 AM
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AIG’s Greenberg gives $2.2 billion of shares to his wife:
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Former AIG’s CEO and chairman Maurice ``Hank’’ Greenberg transferred as much as $2.2 billion shares to his wife during the investigation over the world’s No.1 insurer accounting practices.
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13 Apr 2005 08:04 AM
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Aviva to expand its insurance business in China and India:
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Aviva Plc, the U.K.’s biggest insurer, plans to double its licenses in China in the next five years and expand in India to reduce its reliance on European sales, Chief Executive Richard Harvey said.
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12 Apr 2005 09:30 AM
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Allianz, other German insurers face tax probe:
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The largest German insurer Allianz AG and other insurance companies are facing an investigation launched by German tax authorities over the tax-evasion matter.
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12 Apr 2005 07:42 AM
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Greenberg refuses to testify:
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American International Group’s ex-CEO Maurice "Hank" Greenberg refused to be questioned by the regulators and is planning to take Fifth Amendment rights that allow to avoid testifying to government investigators
Mr
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11 Apr 2005 08:07 AM
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Buffett joins list of AIG witnesses:
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Billionaire investor Warren Buffett is expected to testify in the case of insurance giant American International Group, joining the company’s ousted CEO and chairman Maurice ``Hank’’ Greenberg, according to the WSJ.
Buffett’s holding company Berkshire Hathaway owns insurance firm General Re that is cooperating with the probe
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08 Apr 2005 08:02 AM
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SEC allowed to protect AIG documents from Greenberg:
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The Securities and Exchange Commission was allowed by the court to take all the documents it considers to be taken from American International Group to save them from any impact from the company’s ex-chief executive
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07 Apr 2005 10:23 AM
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AIG sees new turn in accounting matter with offshore insurers:
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American International Group is floating in the accounting fraud scandal that sees new turns with the involvement of offshore insurance companies.
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05 Apr 2005 07:52 AM
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Greenberg’s lawyer says AIG’s boss thought accounting was right:
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Maurice ’’Hank’’ Greenberg, who was forced to step down as the CEO of American International Group, was confident about the accounting in the company and was sure the books were done right, according to his lawyer David Boies.
``Now that doesn’t mean that the accounting was right. We’ve got to look at that issue. But certainly when he did it, he
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04 Apr 2005 08:46 AM
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New China Life launches $800-mln overseas IPO:
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China’s fourth-largest life insurer New China Life Insurance Co. has an option to launch a 800-million oversea initial public offering, according to its President Guan Guoliang.
The initial public offering is expected to be linked to the company’s plans for a Shanghai share price, the company
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31 Mar 2005 08:14 AM
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AIG admits Berkshire unit deal was «improper»:
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American International Group Inc. says for the first time that the transaction with a subsidiary of Berkshire Hathaway Inc. was «improper». It is still not clear whether the US No.1 insurer manages to file its annual report by today’s deadline.
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30 Mar 2005 12:47 PM
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Buffett is to testify in AIG inquiry:
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Warren Buffett, chairman and chief executive of Berkshire Hathaway Inc., has to meet regulators in order to answer questions next month about his possible involvement in a disputable insurance transaction between a Berkshire unit and American International Group Inc., said people familiar with the inquiry.
Meanwhile
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30 Mar 2005 08:19 AM
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AIG to suffer without Greenberg?:
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American International Group’s ousted CEO Maurice ``Hank’’ Greenberg will probably be forced to step down as the company’s chairman, analysts say. The question of how the US largest insurer will manage to survive without its longtime chief is still open.
The
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