29 Mar 2005 12:45 PM

American International Group Inc., under regulatory scrutiny, is about to correct suspected accounting mistakes that may cost $3 billion from as many as 30 insurance transactions, according to the people familiar with the inquiry. The

29 Mar 2005 10:11 AM

American International Group’s Maurice ``Hank’’ Greenberg will probably step down as the company’s chairman this week amid the probe around AIG’s accounting practices launched by the Securities and Exchange Commission.

28 Mar 2005 07:01 AM

The No.1 insurance group AIG said its chairman Maurice "Hank" Greenberg will have to leave in case he does not want to help regulators in their investigation on accounting fraud in the company.

24 Mar 2005 08:08 PM

State insurance regulators are issuing new rules on the kind of controversial transaction that recently prompted the retirement of Maurice R. "Hank" Greenberg, chief executive of American International Group Inc., one

22 Mar 2005 05:33 PM

Following the example of New York Attorney General Eliot Spitzer scrutinizing the U.S. insurance industry, European regulators are investigating their own insurers. On March 17, the U.K.’s Financial Services Authority started a formal inquiry into "financial engineering" techniques

21 Mar 2005 06:52 PM

Regulator ordered American International Group Inc., Prudential Plc and 178 other insurers operating in Hong Kong to report sales of policies to mainland Chinese customers to uproot illegal selling. Responding to this ruling, AIG the world’s biggest insurer has stopped sales of policies by its Hong Kong unit to mainland

17 Mar 2005 07:05 PM

Lloyd’s of London agreed to a Ј152 million equivalent to $293 million settlement from six large insurers, a fraction of its original Ј477 million claim against the group led by Swiss Re in order to close an argument between these huge companies in the global insurance industry. Representatives

15 Mar 2005 06:26 AM

Munich Re, the world’s biggest reinsurer, reported today that its fourth-quarter profit rose sharply.

07 Mar 2005 05:18 PM

Aon Corp., the world’s second-largest insurance broker, is about to settle fraud investigations by New York Attorney General Eliot Spitzer and the two other states for $190 million, people familiar with the matter said. The agreement would put an end to investigations by New York, Connecticut and Illinois into fees that Spitzer said

02 Mar 2005 06:54 PM

International financial authorities are intensifying their supervision of the world’s insurance companies amid rising concern that insurers could be involved in money laundering. Financial authorities in the U.S. and Europe in recent years have become more demanding towards banks that

01 Mar 2005 08:52 AM

Marsh & McLennan Cos., the world’s largest insurance broker, that has just started an investigation into its business practices with insurers, on Tuesday reported a $676 million fourth-quarter net loss related to restructuring and legal settlements.

24 Feb 2005 11:00 AM

American International group turned out to be one of those who are likely to pay the bills for Britain’s food scare. Insurance experts state that the recall bill can run into tens of millions of pounds. AIG and fellow American insurance company ACE were named yesterday as insurers to Premier Foods. ACE provided no comments.

23 Feb 2005 04:16 PM

A deal between American International Group Inc. and General Reinsurance unit made in late 2000 or early 2001 is scrutinized at the present moment, since the regulators have to find out whether it was aimed at making the huge insurer’s reserves look healthier than they actually were. The

23 Feb 2005 10:51 AM

Belgium’s Court of Appeal decision emphasizes the importance of consumer privacy at financial institutions with Belgian operations.

23 Feb 2005 10:40 AM

Aon Corp. is negotiating with at least three U.S. state attorneys general in order to reach a broad settlement of investigations into its business practices, according to the people familiar with the matter.