Zurich fell short of an earnings target as fourth-quarter profit fell 20% on lower income from the general insurance unit.

Munich Re plans to raise its dividend even after fourth-quarter profit declined 42% on investments and goodwill impairments.

Pension and hedge funds flush with cash and hungry for yield are creating a market for reinsurers willing to look past the price cuts these investors have inflicted on traditional catastrophe coverage.

Swiss Re CEO Michel Lies called for the creation of a special infrastructure asset class to allow insurers to invest in projects such as roads and bridges.

Rates charged by reinsurers, which have been falling for most of the past decade, may decline more slowly this year, the head of Allianz SEs reinsurance division said.

XL agreed to purchase Catlin, a Lloyds of London company, for about 2.8 billion pounds ($4.2 billion) as the buyer expands in specialized commercial insurance.

Prices charged by reinsurers for annual contracts renewed this month declined for a second straight year amid an absence of costly disasters.

Capital available for reinsurance coverage hit a record $575 billion at the end of the third quarter, placing pressure on prices, according to broker Aon Benfield.