The European Union is close to finalising a deal on how insurance companies will hold enough capital to keep policyholders safe which will severely water down the version sought by industry regulators.

The European Union is close to finalising a deal on how insurance companies will hold enough capital to keep policyholders safe which will severely water down the version sought by industry regulators.

Federal Reserve Chairman Ben Bernanke does not have to testify in the multibillion-dollar lawsuit by the former chief of American International Group Inc. against the United States over the insurer's 2008 bailout.

Mortgage insurer MGIC Investment Corp posted its second straight quarterly profit, after six years of losses, as a recovery in the U.S. housing market lowered the number of defaulters.

Mortgage insurer MGIC Investment Corp posted its second straight quarterly profit, after six years of losses, as a recovery in the U.S. housing market lowered the number of defaulters.

Warren Buffett, chairman and chief executive of Berkshire Hathaway, said Wednesday that the threat of not raising the U.S. debt ceiling is a political weapon.

Warren Buffett, chairman and chief executive of Berkshire Hathaway, said Wednesday that the threat of not raising the U.S. debt ceiling is a political weapon.

The new shipping route opened up through the Arctic by climate change will not be crowded any time soon; it's too risky a proposition for commercial insurers.