Bond Insurer in Turmoil Turns to Familiar Leader
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MBIA replaced its chief executive with its retired chairman, Joseph W. Brown Jr., who said he would consider splitting up the firmâs insurance business.
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HARTFORD, Conn., Jan. 7 -- The former chairman and chief executive of the world's largest insurer initiated a deal that led to five former executives being charged with participating in a scheme to manipulate the company's financial statements, a federal prosecutor said Monday during opening...
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The insurance broker accused by the New York attorney general of bid rigging and price fixing faces another threat: lawsuits filed by angry customers and the company&#39;s own shareholders, who are upset the company&#39;s stock has plummeted.
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Warren Buffett's Berkshire Hathaway Inc   is starting a bond insurer that would help state and local governments lower their borrowing costs, posing a direct challenge to established rivals struggling with deteriorating credit markets.
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Marsh &amp; McLennan CEO Jeff Greenberg may soon be on his way out the door as head of the world&#39;s biggest - and most troubled - insurance broker.
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Old friends Eliot Spitzer and Michael Cherkasky found themselves on opposite sides of a case that rattled the insurance industry.
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Several years ago, the manager of a big insurance company received an odd request from a counterpart at Marsh &amp; McLennan, the world&#39;s largest insurance broker.
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The beleaguered student lending giant appointed a longtime banking executive as chairman as it struggles with tighter credit markets and a failed buyout.
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Warren Buffett's Berkshire Hathaway Inc   is starting a bond insurer that would help state and local governments lower their borrowing costs, and is likely to lure business from established rivals struggling with deteriorating credit markets.
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The nation&#39;s biggest insurers are mired in a brewing scandal that many executives fear could shake the industry to its core. After
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The bank was badly hurt by a huge spike in consumer credit costs and the poor performance of its investment banking unit, which has clamored for Wall Streetâs respect.
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James E. Cayne, Bear Stearnsâ chief, has seen the firmâs carefully honed reputation suffer from the near collapse of two hedge funds.
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The bond firm plans to tackle riskier investments.
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Andrew S. Fastow, who was recently sentenced for his role in the Enron debacle, does seem to be a changed man. But it took him a very long time to get to that place.
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It&#39;s not often that the head of a drug company says something that leads newscasts all over the country, but a recent announcement affected millions of consumers and doctors.
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Eliot Spitzer, the New York State attorney general, has recently taken on a procession of corporate powers from mutual funds to insurance brokers.
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The brokerageâs $7.9 billion write down raised questions about E. Stanley OâNealâs leadership and the ability of his top executives to manage the risky assets on the firmâs balance sheet.