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The price was $1.3 billion, a record for a Chicago office building.

AIG bought a controlling interest in NSM Insurance Group as it seeks to expand niche offerings.

American International Group Inc., the largest commercial insurer in the U.S. and Canada, said profit rose 1% in the first report under Chief Executive Officer Peter Hancock.

Private-equity investors are expected to buy European insurance assets in 2015 as more companies sell non-essential businesses, according to a Towers Watson report.

Insurers in Europe, which manage about $11.2 trillion of client money, say their role as long-term investors may be hurt by new regulation.

Essent Group Ltd., the mortgage insurer backed by George Soros and Goldman Sachs Group Inc., is beating older rivals in the stock market as the U.S. plans to tighten regulation of the industry.

Essent Group Ltd., the mortgage insurer backed by George Soros and Goldman Sachs Group Inc., is beating older rivals in the stock market as the U.S. plans to tighten regulation of the industry.

Travelers Cos., the only property and casualty insurer in the Dow Jones Industrial Average, said second-quarter profit fell 26%, missing estimates, on catastrophe costs.