Insurer | featured news

The Treasury Department plans to sell its remaining holdings of common stock in the American International Group, essentially ending taxpayers' four-year ownership of the bailed-out insurer.

A company run by former American International Group Chief Executive Maurice "Hank" Greenberg has sued the United States, claiming that the government takeover of the insurer was unconstitutional.

Like a lot of companies, Veridian Credit Union wants its employees to be healthier. In January, the Waterloo, Iowa-company rolled out a wellness program and voluntary screenings.

Reinsurers Allied World Assurance Co Holdings Ltd and Transatlantic Holdings Inc called off their merger on Friday in the face of overwhelming opposition, leaving the fate of Transatlantic uncertain amid two larger, unsolicited offers.

The insurer AIG is suing Bank of America Corp to recover more than $10 billion of losses from a "massive fraud" on mortgage debt, deepening the morass of litigation faced by the largest U.S. bank.

American International Group, the insurer that sold off several major units in its effort to repay its 2008 bailout, plans to keep its once-troubled but now rapidly growing mortgage-insurance unit.

Allied World Assurance Co Holdings agreed to buy Transatlantic Holdings for $3.2 billion in stock, creating a specialty insurer and reinsurer with broader reach and product offering.

Shares of American International Group Inc fell more than 3 percent on Wednesday after the insurer and the U.S. Treasury sold $8.7 billion worth of stock.

Allstate agreed to buy auto insurer Esurance and insurance agency Answer Financial from White Mountains Insurance Group for about $1 billion to expand its online presence.

As health care costs soared nationally, a small Michigan firm gave Ford Motor Co. a proposal to cut its physical therapy costs. The automaker signed up for an in-state pilot program, which was so successful Ford expanded it last year to cover about 390,000 employees, retirees and their families nationwide. Yet the cost-saving program created by Pontiac-based TheraMatrix has come under attack from Blue Cross Blue Shield of Michigan.