09 Nov 2004 12:00 PM

Marsh & McLennan said it would cut its jobs by 5% (3,000) amid the probe scandal launched by the New York State Attorney General Eliot Spitzer. The company called the step “difficult but necessary” and called the reductions fair. Marsh’s

08 Nov 2004 10:49 AM

The largest reinsurer over the globe Munich Re announced Monday it received a €550m ($713m) battering from the US hurricane season.

05 Nov 2004 10:49 AM

ACE Ltd., a Bermuda-based insurance company, announced on Thursday that it had terminated two executives and suspended three more unnamed employees in the wake of New York Attorney General Eliot Spitzer’s probe into the bid-rigging practices in the insurance industry.

03 Nov 2004 08:35 AM

The total from hurricane damage in the quarter accounted for $21.3 billion for the U.S. property and casualty insurance companies, the newest data shows.

26 Oct 2004 08:20 AM

Marsh & McLennan will see no criminal charges from the New York Attorney General Eliot Spitzer as the company moves towards positive changes in its staff.

25 Oct 2004 06:12 AM

Amid the New York Attorney General Eliot Spitzer’s probe over the activity of some insurers, more and more officials become sceptical about the efficiency of work for the insurance regulators.

22 Oct 2004 06:11 AM

Connecticut is going to join California amid New York Attorney General Eliot Spitzer’s probe over the U.S. insurance industry scandal.

21 Oct 2004 07:49 AM

American International Group (AIG), the world’s largest insurer, said today third quarter profit rose 7.5% on fewer investment losses. Net income rose to $2.51 billion, or 95 cents a share, from $2.34 billion, or 89 cents a share in the year-ago period. Excluding capital gains and losses, EPS was 97 cents a share. Analyst expected

21 Oct 2004 06:19 AM

American International Group Inc., the world’s biggest insurance company, is expected to announce to its investors about hurricane damage in the third quarter and the lawsuit filed by the New York Attorney General Eliot Spitzer. Florida

20 Oct 2004 10:57 AM

On Tuesday, Spitzer scandal involved new players as the New York Attorney General Eliot Spitzer opened a probe against more insurers. He also asked ING, the Dutch financial services group, to give some extra information for the probe on the fees paid by some U.S. insurers to brokers for new business. "We

20 Oct 2004 08:37 AM

Net income after taxes for the U.S. property/casualty insurance industry hit the record highs of $23.52 billion during the first half of the year, the Insurance Services Office Inc. and the Property Casualty Insurers Assn. of America

20 Oct 2004 06:48 AM

On Tuesday, Spitzer scandal involved new players as the New York Attorney General Eliot Spitzer opened a probe against more insurers. Now investigation also involves health insurance companies. Shares of health insurers went down on the expected probe. Aetna dropped about 12% to $86.17, Humana’s shares slid over 6% to $18.02. "It is scaring to death anyone invested in the sector. It intimates that brokerage fees could potentially become transparent

19 Oct 2004 01:32 PM

The Swiss insurance group Zurich Financial Services said it will pay around $525 million for hurricane losses that stroke the U.S. recently.

19 Oct 2004 10:44 AM

The New York State Attorney General Eliot Spitzer does not give up in investigating the U.S. insurance industry.

15 Oct 2004 08:13 AM

New York Attorney General Eliot Spitzer on Thursday filed a civil action against Marsh & McLennan, saying generally the overall industry was involved in bid rigging and steering the clients to other companies in return for illegal payments