Insurance News ME

AIG, foreign insurers lose market share in Shanghai

SHANGHAI, Nov 19 (Reuters) - Foreign life insurers' market share in Shanghai, China's commercial hub and a key market, declined for a third month in a row in October as troubles at overseas firms such as AIG dented consumer confidence.

Ahead of the Bell: Willis Group downgraded

An analyst downgraded Willis Group Holdings Ltd. late Monday, citing the British insurance broker's planned acquisition of Hilb Rogal & Hobbs Co.

AIG shares rise in premarket after CEO Sullivan resigned

Shares of American International Group rose in premarket trading Monday, as Wall Street cheered the resignation of chief executive Martin Sullivan, and the subsequent appointment of Robert Willumstad as CEO.

AIG's Sullivan Says He's Not Discouraged After Losses

American International Group Inc Chief Executive Officer Martin Sullivan told shareholders at the annual meeting he's ``not discouraged'' after the company posted a record first-quarter loss of $7.81 billion.

Swiss Re First-Quarter Profit Falls on Writedown

Swiss Reinsurance Co., the world's biggest reinsurer, said profit fell a more-than-estimated 53 percent after a decline in premiums and 819 million Swiss francs ($782 million) of credit market writedowns.