Commercial Lines

Two Bermuda reinsurers report positive gains in their net earnings for the first quarter of this year helped by light catastrophe losses during the period.

Hannover Re beat expectations with net profit rising five-fold to $344 million in the first quarter, helped by surging investment income and the absence of big damage claims.

Insurance companies that own or operate a savings & loan will face fresh oversight from the Federal Reserve Board, which is creating a process by which to examine those financial institutions that have significant banking assets.

Insurance companies that own or operate a savings & loan will face fresh oversight from the Federal Reserve Board, which is creating a process by which to examine those financial institutions that have significant banking assets.

First quarter net income at The Hartford was down about 81 percent to $96 million, as net losses from runoff operations totaled $378 million. Core earnings were up 7 percent.

First quarter net income at The Hartford was down about 81 percent to $96 million, as net losses from runoff operations totaled $378 million. Core earnings were up 7 percent.

A U.S. judge refused to block former MF Global Holdings Ltd Chief Executive Jon Corzine and other company officials from tapping as much as $30 million of insurance money to defend lawsuits over the futures brokerage's collapse.

Nationwide Mutual Insurance Co. says it has completed its previously announced agreement to combine with Harleysville Mutual Insurance Co. and Harleysville Group Inc.