Chubb Corp. and CNA Financial Corp. are among insurers that were subpoenaed by New York’s financial- industry regulator as part of a probe into compliance with laws that prohibit companies from doing business with Iran, a person familiar with the investigation said.
American Financial Group Inc., the insurer run by Cincinnati’s Lindner family, agreed to buy Summit Holdings Southeast Inc. from Liberty Mutual Group Inc. for about $250 million to build its workers’ compensation business.
Bank of America Corp., the lender burdened by its Countrywide Financial Corp. takeover, would consider putting the unit into bankruptcy if litigation losses threaten to cripple the parent, said four people with knowledge of the firm’s strategy.
Liberty Mutual Insurance Co. settled a lawsuit the insurer filed against one of its former outside lawyers claiming he tried to extort new legal work with a threat to expose misconduct by an unidentified company executive.
Liberty Mutual Holding Co., the policyholder-owned insurer, postponed the largest U.S. initial public offering of 2010 as demand was less than the company had projected for a unit that sells policies through agents.
Modern office towers with nicknames like the Walkie Talkie and the Cheesegrater are being completed high above the City of London, giving the impression there’s plenty of room for a resurgent financial industry. Closer to the ground, developers are preparing for a shortage of space.
Liberty Mutual Holding Co., the second-largest policyholder-owned property-casualty insurer in the U.S., is expanding abroad and shortening the duration of bond holdings on concern that deficit spending and Federal Reserve policies may weaken the dollar.