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XL agreed to purchase Catlin, a Lloyds of London company, for about 2.8 billion pounds ($4.2 billion) as the buyer expands in specialized commercial insurance.

China will start an insurance system for bank deposits, a move toward scrapping remaining controls on interest rates and allowing lenders to fail in a more market-driven economy.

Municipal bond insurers are capturing the most market share since 2009 as Detroits bankruptcy and Puerto Ricos struggles underscore the value of the coverage to investors in the $3.7 trillion market.

Municipal bond insurers are capturing the most market share since 2009 as Detroits bankruptcy and Puerto Ricos struggles underscore the value of the coverage to investors in the $3.7 trillion market.

Home prices in 20 U.S. cities rose in the year ended in July at the slowest pace in almost two years as still-tight credit and limited wage gains weigh on demand.

U.S. stocks fell, with the Standard & Poors 500 Index headed for a third day of losses, as a government crackdown on tax-saving mergers sent drugmakers with pending cross-border deals lower.

The challenges facing prospective buyers of the least expensive homes in the U.S. are getting harder to overcome.

The challenges facing prospective buyers of the least expensive homes in the U.S. are getting harder to overcome.