Peter Hancock News
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Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., is planning an expansion in commercial insurance after hiring four executives from American International Group Inc.
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American International Group Inc., the insurer that repaid a bailout last year, posted first-quarter profit that beat analysts’ estimates as results improved at the property-casualty operation.
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Peter Eastwood, the chief executive officer of American International Group Inc.’s Americas property-casualty operation, has left the insurer with three other managers.
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American International Group Inc. increased Chief Executive Officer Robert Benmosche’s pay package by 24 percent after he repaid a U.S. bailout.
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American International Group Inc. is counting on Peter Hancock to make up for his lack of an insurance background with experience managing financial risk.
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American International Group Inc. had more than $600 million in impairments since the end of 2010 on death-benefits bets as the company was stuck paying insurance premiums for people who lived longer than the firm expected.
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American International Group Inc., once the world’s largest insurer, benefited from the humility that came with a U.S. bailout in 2008, said the chief executive officer of the property-casualty unit.
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American International Group Inc., the bailed-out insurer, is prepared for more oversight as the Federal Reserve moves to regulate non-bank financial firms, the head of the company’s property-casualty division said.
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American International Group Inc., the bailed-out insurer, is comfortable taking “liquidity risk” in its investment portfolio as it seeks to improve returns amid low interest rates, the head of its largest unit said.
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American International Group Inc., the bailed-out insurer, is altering its strategy after focusing too much on expansion, said Peter Hancock, chief executive officer of Chartis, the company’s property-casualty unit.
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