American International Group has reduced its holdings in reinsurer Transatlantic Holdings, Inc., to 14 percent netting the New York-based insurer $1.14 billion as it continues to sell off its assets.

Independent agents can help make up for declining premium growth in a soft market and a recessionary economy by helping clients create captive insurance companies, where appropriate, one alternative market manager suggests.

A majority of large insurers in a survey said they are planning to expand internationally within the next 12 months despite the ongoing economic turmoil.

Texas Gov. Rick Perry said he plans to call the legislature back into session to finish some unfinished business that included the reauthorization of the state's Department of Insurance.

Five insurance trade groups from the property-casualty and life and health insurance businesses said they will meet next month in Washington to discuss health insurance reform concerns and lobby lawmakers.

American International Group, Inc. said underwriting managers have purchased an additional 3.9 million shares of Transatlantic Holdings Inc. from AIG leaving the company with a 14 percent stake.

Novarica, a research and advisory firm, said a survey has found a large number of insurance executives think they purchased the right software, but many have doubts.

The chief executive of the online insurance exchange MarketScout announced that three unnamed insurers are keeping rates low at a time when business realities call for market hardening.