MBIA narrowed its first-quarter net loss by more than $340 million as the company saw a steady decline in loss severity in its structured-finance obligations.

A 5.3 magnitude earthquake has struck Spain about 218 miles south-southeast of Madrid, causing several deaths and toppling buildings, according to the U.S. Geological Survey.

Ambac Financial Group Inc. reports an increase in its first-quarter net loss attributed to a combination of drop in revenues and higher than expected losses in its guaranty business.

Evidence that catastrophe models may not be as accurate as some carriers might expect has one insurance broker cautioning insurers that they need to examine their loss estimates more closely.

Insurance brokers Brown & Brown and Hub International Ltd. recently announced four acquisitions on the East and West coasts.

Natural catastrophes took a toll on Munich Re’s first-quarter earnings as the company reports a net loss of $1.36 billion, compared to net income of $695 million for the same period last year.

Recent commercial-lines reports point to a slowing of the prolonged soft market, but experts are hesitant to declare the onset of a hard market or even to guess whether the price stabilization will last.

Insurance-industry experts are cautioning that the death of Osama bin Laden does not represent the end of the terrorism threat for the United States. The threat, in fact, may worsen if terrorists seek to execute a reprisal attack.