Search / 28 posts tagged American Insurance Group

Mortgage Default Jump CHICAGO -(Dow Jones) - Home loans reported as delinquent to a mortgage insurer trade group surged in April, when a major home lender tightened up its policy for reporting past-due mortgages.

By Joy A. Kennelly Ever since returning from Miami, FL, I have been slammed with work and unable to catch my breath. (Okay, I did enjoy my Memorial Day holiday BBQ down in San Diego with a very good friend, and my lounging by the pool at the Hollywood Roosevelt on Sunday, and my playing with two

Royal Bank of Scotland Group is expected to have received at least six preliminary bids for its Direct Line and Churchill insurance business by this week’s offer deadline, reported The Observer, adding that there is some doubt as to whether it will achieve its hoped-for 7 billion pounds price.

NEW YORK—A public spat has erupted over the circumstances surrounding former American International Group Inc. Chairman Maurice R. Greenberg�s 2005 departure from the insurer he built. In a May 16 letter to the editor of the Wall Street Journal, Richard I.

NEW YORK (Reuters)—Moody’s Investors Service has cut its rating of American International Group Inc. debt, citing losses from the world’s largest insurer’s exposure to the U.S. mortgage market and credit derivatives. AIG shares fell 2.5% and were the top drag on the market’s leading indicators, the Dow Jones industrial average and Standard & Poor’s 500.

NEW YORK—Standard & Poor’s Corp. has affirmed its AA counterparty credit and financial strength ratings on American International Group Inc.’s core operating subsidiaries, following AIG’s successful raising of $17 billion in capital. The outlook on the ratings is negative, S&P said.

American International Group Inc. (AIG), New York-based insurer said that over the past month had raised $20 billion in capital, which is 60 per cent or $8 billion more than projected, in a move to prop up its balance sheet, weakened by severe credit market-related losses.

FSA Fines AIG GBP640,000 0 FSA Fines AIG GBP640,000 Last Update: 5/21/2008 6:43:22 AM Edited Press Release LONDON (Dow Jones)–The Financial Services Authority (FSA) said Wednesday it has fined UNAT DIRECT Insurance Management GBP640,000 for failings relating to a lack of effective control and oversight over its appointment of call centres.

AIG unit fined $1.3 million by U.K. regulator 0 LONDON (MarketWatch) — The U.K.’s Financial Services Authority said Wednesday that it’s fined Unat Direct, a subsidiary fo American International Group Inc. 640,000 pounds ($1.26 million) for failings related to effective control and oversight of its appointment of call centers.

BANGALORE/NEW YORK (Reuters)—A U.S. judge who oversaw the trial of executives accused of helping American International Group Inc. inflate reserves said there was sufficient evidence to show the conspiracy started with a phone call from the insurer’s former chief executive, Maurice R. Greenberg. U.S.