Out of all the economic problems facing insurers and their agents these days, the prospect of runaway inflation spurred by massive government spending is the biggest long-term threat, top CEOs warned.

American International Group said it has enough money on hand to pay its obligations, complete its reorganization and repay its loans for at least 12 months.

NEW YORK--While buyers of insurance agencies may not share the same strategies for purchasing agencies, they all have clear ideas about why they make the deals.

American International Group bettered its first quarter loss from last year by close to $2.5 billion, but reported a net loss of more than $5 billion, admitting that negative publicity is affecting underwriting.

After reporting a net loss for 2008, Zurich, Switzerland-based carrier Swiss Re celebrated a return to profitability in the first quarter, despite a 76 percent drop in net income.

American International Group said its AIG Financial Products Corp. has sold its commodity index business to UBS Investment Bank.

Marsh & McLennan Companies Inc., the parent company of insurance broker Marsh and reinsurance broker Guy Carpenter, reported net income of $176 million, despite a 13 percent drop in revenues compared to last year.

J. Powell Brown, president of Daytona Beach, Fla.-based insurance broker Brown & Brown Inc., was named to succeed his father, J. Hyatt Brown, as chief executive officer upon his retirement on July 1.