Commercial Lines

AIG's Peter Hancock lists climate change, cyber insurance, alternative capacity and public-private risk transfers as trends to watch.

Japan's NKSJ Holdings Inc said on Wednesday that it will purchase Canopius Group Limited, a privately held insurance and reinsurance group operating in the Lloyd's of London insurance market, for $965 million.

The cost to insurers of catastrophes almost halved to some $44 billion this year, despite a doubling in deaths caused by events such as Typhoon Haiyan, Swiss Re said on Wednesday.

Detroit's path through bankruptcy began to take shape on Tuesday, with a second bond insurance firm ready to drop its objections to a controversial city financing plan, joining another bond insurer, bondholders and a committee of retired city workers in reaching agreements with the city.

The regulatory scrutiny that followed the financial crisis is forcing insurance CEOs to spend an inordinate amount of time on compliance to solve problems that do not exist and satisfy regulators who dont understand the industry, according to Hanover Insurance Groups chief executive.

The regulatory scrutiny that followed the financial crisis is forcing insurance CEOs to spend an inordinate amount of time on compliance to solve problems that do not exist and satisfy regulators who dont understand the industry, according to Hanover Insurance Groups chief executive.