Insurers that venture into bank-like business activities in search of higher returns must realize they will be regulated like banks, the head of the European Union's insurance watchdog said on Wednesday.

President Barack Obama's administration on Tuesday formally proposed new rules requiring insurers to cover people with preexisting conditions and set minimum health benefits to millions of others under U.S. healthcare reform law.

Europe's insurers may get a single supervisor, mirroring a plan to centralize banking regulation under the European Central Bank, the head of the EU's insurance rule-making body said on Tuesday.

Europe's insurers may get a single supervisor, mirroring a plan to centralize banking regulation under the European Central Bank, the head of the EU's insurance rule-making body said on Tuesday.

Five Republican governors rejected on Friday a major provision of President Barack Obama's healthcare reform law that calls on U.S. states to set up online health insurance markets where consumers can purchase private coverage at federally subsidized rates.

Five Republican governors rejected on Friday a major provision of President Barack Obama's healthcare reform law that calls on U.S. states to set up online health insurance markets where consumers can purchase private coverage at federally subsidized rates.

Expectations that catastrophe bond investors will not lose money as a result of superstorm Sandy have been shaken by an estimate that losses for insurers from the Oct. 30 storm will top $20 billion.

Home and auto insurer Allstate Corp., considered to be one of the companies most exposed to insured losses from superstorm Sandy, said it expects October catastrophe losses to exceed $150 million though a full estimate cannot be made at this time.