Billionaire investor Carl Icahn said he may seek to shake up leadership at AIG after CEO Peter Hancock rebuffed his plan to split the insurer into three companies.

AIG CEO Peter Hancock dismissed activist investor Carl Icahns proposal to split the company into three insurers, saying a division would limit earnings diversity and reduce the value of some tax assets.

American International Group Inc., posted a third-quarter loss as investment results deteriorated. The company plans to cut as many as 400 senior-level jobs.

Carl Icahn, the billionaire investor, disclosed an investment in American International Group Inc. and said it should split into three companies.

Greenlight Capital Re Ltd. plunged the most since 2010 after posting its third-straight unprofitable quarter on stock market losses and poor underwriting.

Damage from Patricia, the strongest hurricane ever measured in the Western Hemisphere, may cost the U.S. billions from floods, even after the storm spared the largest cities in Mexico.

Travelers Cos., the lone property-casualty insurer in the Dow Jones Industrial Average, said third-quarter profit advanced 1% as sales growth accelerated.

American International Group Inc. agreed to sell operations in Central America to closely held Assa Cia. de Seguros, as the insurer continues to sell assets to free up capital.