Ebix Inc. says it and an affiliate of Goldman Sachs Group Inc. decided to cancel their planned merger after U.S regulators started an investigation into allegations of misconduct at Ebix, an insurance software provider.

Insurance claims for flood damage in Germany may be as much as $8 billion, catastrophe modelling firm AIR Worldwide said on Thursday, after the worst flooding in a decade.

Hannover Re says it expects to make a profit of around $1.07 billion despite recent flood damage losses in Europe.

Assessment teams increased the number of homes destroyed to 485, the highest property loss total from a wildfire on record in Colorado.

The judge overseeing the bankruptcy of San Bernardino, California, on Thursday disqualified a law firm from representing a major bond insurer in the case, because she said some of its lawyers had "switched sides."

Reinsurer Munich Re is likely to face damage claims of $333-466 million from flooding in central Europe, a bank analyst predicted on Friday, after Allianz pencilled in its own net hit at 350 million.

Europe's insurers warned that their ability to help to boost economic growth could be harmed if the EU insurance watchdog does not take account of industry demands in a report to be unveiled on Friday.

Europe's insurers warned that their ability to help to boost economic growth could be harmed if the EU insurance watchdog does not take account of industry demands in a report to be unveiled on Friday.