Commercial Lines

Munich Re says it established a $75 million catastrophe bond through the Bermuda-based special purpose insurer Queen Street V Re Ltd. for hurricane exposure in the United States and European windstorm.

Bond insurer Ambac Financial Group Inc. says it has offered to pay the Internal Revenue Service more than $100 million dollars and give up tax credits to settle a dispute over tax treatment of credit default swaps.

Bond insurer Ambac Financial Group Inc. says it has offered to pay the Internal Revenue Service more than $100 million dollars and give up tax credits to settle a dispute over tax treatment of credit default swaps.

Agent satisfaction with their carrier partners shows little change from last year and regional carriers would appear to be doing a better job with agents than the national carriers, according to an agents association survey.

Fourth-quarter profit at Warren Buffett's Berkshire Hathaway was down 30 percent on investment and derivative valuations.

Despite many insurers suffering operating losses in 2011, excess capital remains throughout the industry, and analyst firm Keefe, Bruyette & Woods says it is likely insurers will maintain that capital for 2012 growth opportunities rather than return it to shareholders.