CHICAGO and LONDON, December 1 /PRNewswire/ -- Aon Corporation (NYSE: AOC - News) today announced that it has created a new global specialty business unit - Aon Specialty - a strategic move designed to take advantage of the firm's decision ... [full story]

Nov. 24 (Bloomberg) -- American International Group Inc., the insurer bailed out by the government, will remove “AIG” from the name of a U.S. auto unit and cut 6.6 percent of jobs there to improve chances of finding a buyer ... [full story]

  LONDON (Reuters)—A.P. Moller-Maersk, one of the world's biggest shipping firms, said on Thursday it was rerouting some of its huge merchant fleet to avoid the Gulf of Aden because of piracy. "Vessels without adequate speed or freeboard will for the time ... [full story]

LONDON (AP) — Piracy on the high seas used to be a simple affair: Climb on board, take the valuables, and go. But now on the volatile waters off east Africa, pirates are carrying rocket launchers, demanding multimillion dollar ransoms and ... [full story]

In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership. The action, announced by the Federal Reserve and the ... [full story]

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has placed the financial strength rating (FSR) of A (Superior) and issuer credit ratings (ICR) of “aa-” of the key life/health insurance subsidiaries of Genworth Financial, Inc. (Genworth) (Richmond, VA) [NYSE: GNW] under review ... [full story]

NEW YORK (Reuters)—American International Group Inc., the insurer saved from bankruptcy by a federal bailout, said Thursday four affiliates applied to participate in the Federal Reserve Bank of New York commercial paper funding facility in order to repay other debts. AIG ... [full story]

BADEN-BADEN, Germany (Reuters)—The world's reinsurers expect the intensifying financial market storm will allow them to push through higher prices for the risk cover they offer insurance companies. The world's No. 1 and No. 4 reinsurers, Munich Reinsurance Co. and Hannover Re ... [full story]

American International Group, the US insurer that was recently bailed out by the government, agreed to freeze any payments that had been due to Martin Sullivan, its former British-born chief executive, whose contract calls for $19 million plus other benefits. ... [full story]

LONDON (Reuters) - UK insurer Prudential (PRU.L: Quote, Profile, Research, Stock Buzz) is in advanced talks with two strategic investors to take a 20 percent stake in the company, reported the Sunday Times. The funds raised would help mount an 8.6 ... [full story]