Insurance rating agency A.M. Best Co. says 34 rating units failed a stress test to assess capitalization sans the federal terrorism backstop.

Having joined Markel Corp. when the specialty insurer bought Alterra Capital Holdings, Bryan Sanders has been appointed president of Markel Wholesale.

Progressive Corp. says third-quarter net income fell 16 percent on another quarter of declining investment income.

Progressive Corp. says third-quarter net income fell 16 percent on another quarter of declining investment income.

Insurance rating agency A.M. Best Co. has downgraded the financial strength rating of Tower Group following the insurers reserve-strengthening announcement.

Tower Group International says it needs to strengthen loss reserves by about $365 million for accident years 2009-2011, resulting in an impairment charge of $215 million for the second quarter.

MarketScout CEO sees some struggling companies in the marketplace, which could spell additional rate increases for commercial lines.

MarketScout CEO sees some struggling companies in the marketplace, which could spell additional rate increases for commercial lines.