The reinsurance deal transfers liabilities on certain U.S. policies from 2015 and earlier. The coverage involves so-called long-tail policies, in which claims can emerge years after a policy is issued.

The earthquake that struck New Zealand this week could cost the insurance industry as much as $3.7 billion, according to catastrophe modeler AIR Worldwide.

Berkshire was among the five largest insurers for aircraft risks in the U.S. and Canada in 2014.

Sompo Japan Nipponkoa Insurance Inc. is planning to bid about $6.5 billion for the Bermuda-based insurer Endurance Specialty Holdings Ltd.

AIG's business in Brazil agreed to transfer about 25,000 auto policies to a unit of Porto Seguro SA as the U.S. company scales back its international businesses.

Insurers expect to slow purchases of high-grade corporate debt and hold more cash over the next two years, potentially squeezing already low returns, BlackRock Inc. said.

Allstate said the countrys transportation network is highly inefficient, with vehicles sitting idle for most of the day, and that the company is betting on inevitable changes to the system.

AIG would weigh acquisitions to bolster high-priority businesses, even as CEO Peter Hancock exits other units, the head of the companys commercial insurance operation said.