American International Group joined a cadre of banks asking a federal court to block a proposed nationwide class-action suit against them over the global insurer’s near-collapse three years ago.

MetLife Inc will sell more than $3 billion of stock – or 50% more than it planned – to fund its acquisition of American International Group’s foreign life insurance business of American International Group, according to Reuters.

The Phoenix Cos.’ senior debt rating was dropped into the “junk” range by Moody’s Investors Service, and the ratings service changed its outlook for the property-casualty insurer and its subsidiaries to “stable,” from “negative.”

The life insurance industry’s outlook has been restored at “stable,” after being downgraded to “negative” in October 2008, when the financial markets began to tumble, according to Moody’s Investors Services.

Liberty Mutual Agency Corp., a property-casualty insurance provider, filed paperwork May 10 to go public with a $100 million initial public offering.

VIST Financial Corp. recently announced two purchase agreements to raise $5.2 million in new capital – secure in its current financial standing, yet looking toward the future.

Investors, despite showing optimism for the investment climate in the next six months, continue to invest cautiously, according to a new survey.

For his work in aiding troubled American International Group regain its reputation as one of the world’s leading insurance companies while also overseeing repayment of billions in federal aid, Robert Benmosche earned $2.7 million as head of the company in 2009.

The Pennsylvania Insurance Department said it plans to appeal a Commonwealth Court decision to dismiss its challenge against Kingsway Financial Services over how it distributed shares of a troubled subsidiary.

National health insurer WellPoint, parent company of Anthem, is cutting stock grants to employees to control costs as it prepares for lower earnings this year.