Insurers look set to absorb natural catastrophe claims of over $100 billion in 2011, more than double the total for 2010, making it the second most costly natural disaster year on record, reinsurer Swiss Re said.

Swiss Re said Chief Executive Stefan Lippe will take early retirement after roughly three years at the helm in a surprise move which analysts said added a new element of uncertainty to a company Lippe had helped stabilize.

Swiss Re said Chief Executive Stefan Lippe will take early retirement after roughly three years at the helm in a surprise move which analysts said added a new element of uncertainty to a company Lippe had helped stabilize.

Governments and companies are broadly agreed that Europe's new Solvency II capital rules for insurers should take effect in January 2014, a year later than originally planned, British Financial Secretary to the Treasury Mark Hoban said on Thursday.

Governments and companies are broadly agreed that Europe's new Solvency II capital rules for insurers should take effect in January 2014, a year later than originally planned, British Financial Secretary to the Treasury Mark Hoban said on Thursday.

Tokyo Electric Power Co said it plans to sign up Swiss-affiliated Ace Insurance to provide accident cover, starting next month for its decimated nuclear power plant in Fukushima Prefecture, Japanese business daily the Nikkei said.

A federal judge on Tuesday rejected Bank of America Corp's request to disqualify the law firm representing insurer American International Group Inc in its $10 billion mortgage fraud lawsuit against the bank over an alleged conflict of interest by one of the firm's partners.

China's share of the world insurance market has quadrupled in the last 10 years and is set for further growth, helped by a strong economy and better regulation, reinsurance broker Aon Benfield said.