The Hartford, in announcing preliminary 2011 second-quarter results, says it expects to report net income of approximately $24 million, which would be down from net income of $76 million in the 2010 second quarter.

Selective Insurance Group Inc., through its subsidiaries, has purchased the renewal rights for commercial-lines excess and surplus policies written under contract binding authority by subsidiaries of Alterra Capital Holdings Limited.

A spike in the number of agent and broker jobs added in May drove an overall net gain of 900 jobs industry-wide for the month compared to April, according to an Insurance Information Institute analysis of U.S. Labor Department’s Bureau of Labor Statistics figures.

Moody’s says a recent outline put forth by the International Association of Insurance Supervisors regarding a regulatory framework to monitor international insurers’ group-wide activities is credit positive.

Property and casualty insurers remain the most exposed sector among financial institutions to volatility within the municipal-bond market, holding about $355 billion in municipal bonds, but the overall level of risk should be manageable, Moody’s says.

The Hanover Insurance Group Inc. says it expects losses from second-quarter catastrophes to be between $145 million and $160 million before tax.

Fireman’s Fund says CEO Michael LaRocco has left the company to pursue other professional opportunities and has been replaced by Lori Dickerson Fouché.

Premium growth is expected to continue throughout 2011 as the global economy recovers; however, the industry may be challenged by reserve adequacy issues, stricter regulations and rising combined ratios, according to a new report.