Markets

Early this month, First Mercury Financial Corporation announced one of its subsidiaries will buy Valiant Insurance Group for roughly $55 million.

In a market where growth seems elusive, the leader of Connecticut's newest managing general agency believes his startup could bind $10 million of new business by year's end.

The New York State Insurance Department will hold a hearing in August to discuss further expanding the state's excess and surplus lines "export list" after adding coverages to the list last year.

Chubb Corp. said it expects to open a second branch in China in December if all goes well with additional approvals from the China Insurance Regulatory Commission (CIRC) and other authorities.

The number of meteorological catastrophe-driven events is increasing, causing more losses internationally, but insurers have proven themselves financially capable of handling those losses, according to experts.

A report that Florida's catastrophe funds have over $2 trillion in loss exposure will be clarified in the future, according to officials from the state's insurance department.

First Mercury Financial Corporation announced one its subsidiaries will buy Valiant Insurance Group for roughly $55 million, expanding its ability to write admitted specialty business and allowing it to enter the marine insurance market.

American International Group Inc. (AIG) is now free to proceed with a lawsuit alleging other insurers conspired to underreport workers' compensation premiums, which the company said skewed the market.