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Former AIG Boss Hank Greenberg Bets On Obamacare

Source: Business Balla | Feb 17 2014, 5:10pm CST | by Forbes

Maurice “Hank” Greenberg, who built AIG into an insurance powerhouse, bought medical claims processor MultiPlan for $4....
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How Central Banks Are Ruining The Insurance Business

Jul 22 2014 3:32am CDT | Source: SeekingAlpha

By SL Advisors: Editor's note: Originally published on 30 June, 2014 by Simon Lack Denis Kessler, CEO of Scor, a large reinsurer, is the most recent critic of today's low interest rate environment. It's not only the stereotypical retiree clipping bond coupons that is suffering from current interest rate policy. Insurance companies typically hold substantial amounts of their investment portfolios in bonds, both because of regul ...
Full article at: SeekingAlpha
 

 

3 tips for partnering with community nonprofits

Jul 18 2014 12:34pm CDT | Source: Nashville Business Journal

NZRU Announce AIG Sponsorship
As a member of Nashville’s business community, and a resident here for 23 years, I applaud corporate initiatives that benefit local nonprofit organizations. Below are some best practices that may be helpful when considering a community partnership. First, seize the opportunity, even if you’re not initially sure what to anticipate from the partnership or people. AIG Life and Retirement is teaming with The Arc Davidson County, a grassroots charit ...
Full article at: Nashville Business Journal
 

 

Latest stories

Do you eat everything on your plate?
New York, July 23 (IANS) If you eat pretty much everything you put on your plate, you are a proud member of the "Clean Plate Club". | by IANS
 
Elephant's sense of smell stronger than dogs, humans
Tokyo, July 23 (IANS) Researchers have found that African elephants have the largest number of olfactory receptor (OR) genes ever characterised - more than twice than that of dogs and five times more than humans. | by IANS
 
Self-cooling solar cells to last longer
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Bank of America profit drops to $2 billion on higher legal bills

Jul 17 2014 4:54am CDT | Source: Albany Business Journal

US-ECONOMY-NYSE
Bank of America Corp. (NYSE:BAC) net income plunged 43 percent in the second quarter with a $2 billion profit for shareholders as legal expenses again undermined income. BofA says it recorded a $4 billion charge for litigation expenses in the most recent quarter, including a $650 million settlement to resolve a dispute with insurer AIG over bad mortgages. With net income of $2 billion, BofA earned 19 cents ...
Full article at: Albany Business Journal
 

 

Panic alert system being introduced in Islamabad police

Jul 16 2014 10:25am CDT | Source: The Nation - Pakistan

ISLAMABAD- The Help line of Islamabad Police-Rescue 15- is basically established to serve the people in case of emergency and its performance will be further improved with cooperation of citizens.  It was stated by AIG (Operations) Sultan Azam Temuri while speaking with members of Citizens Police Coordination Committe ...
Full article at: The Nation - Pakistan
 

 

2Q profits drop sharply at Bank of America

Jul 16 2014 10:05am CDT | Source: Buffalo Business First

NZRU Announce AIG Sponsorship
Second-quarter net income at Bank of America tumbled 43 percent due to the Charlotte bank’s ongoing elevated legal expenses. Net income available to common shareholders totaled $2 billion, or 19 cents per share, for the quarter ending June 30. That’s down from the same time in 2013 when net income was $3.6 billion, or 32 cents per share. Bank of America said it incurred $4 billion in mortgage-related legal bills during the quarter, including a $650 million payment to insurer ...
Full article at: Buffalo Business First
 

 

Legal bills cut into Bank of America's 2Q profit

Jul 16 2014 9:51am CDT | Source: Orlando Business Journal

US-ECONOMY-NYSE
Bank of America Corp. fell shy of Wall Street estimates with a $2 billion profit for shareholders in the second quarter as legal expenses again undermined income. BofA (NYSE: BAC) said it recorded a $4 billion charge for litigation expenses in the most recent quarter, including a $650 million settlement to resolve a dispute with insurer AIG over bad mortgages. With net income of $2 billion, BofA earned 19 cents per share in the second quarter, falling short of analyst estima ...
Full article at: Orlando Business Journal
 

 

REPORT: Bank Of America Offers To Shell Out $13 Billion To Resolve Mortgage Probe

Jul 16 2014 9:37am CDT | Source: Business Insider

Bank of America is reported to be offering $13 billion to settle a U.S. mortgage securities probe stemming from mortgage backed bonds it sold to investors that led to the financial crisis., report Devlin Barrett and Christina Rexrode at the WSJ.  Bank of America met with the Justice Department on Tuesday but could not arrive at a deal as the latter wants billions more.  The bank announced Q2 earnings earlier on Wed ...
Full article at: Business Insider
 

 

Bank of America profit drops to $2 billion on higher legal bills

Jul 16 2014 9:07am CDT | Source: San Francisco Business Times

US-ECONOMY-NYSE
Bank of America Corp. fell shy of Wall Street estimates with a $2 billion profit for shareholders in the second quarter as legal expenses again undermined income. BofA (NYSE: BAC) says it recorded a $4 billion charge for litigation expenses in the most recent quarter, including a $650 million settlement to resolve a dispute with insurer AIG over bad mortgages. With net income of $2 billion, BofA earned 19 cents per share in ...
Full article at: San Francisco Business Times
 

 

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