A ban on European Union insurers covering Iranian oil exports has forced shipowners to fall back on new, untested insurance providers, raising fears that governments may have to pay in the event of an oil spill.

MBIA Inc shares declined after Bank of America Corp offered to buy some of its bonds, which could thwart the insurer's effort to change their terms and avoid what it has called a possible default.

MBIA Inc shares declined after Bank of America Corp offered to buy some of its bonds, which could thwart the insurer's effort to change their terms and avoid what it has called a possible default.

Allianz is looking to invest about $12.7 billion in property over the next five years as it seeks to offset low yields from conventional investments.

Investors who brought a specialist bond designed to protect Swiss Re from natural disaster claims will not lose money over superstorm Sandy, rating agency Moody's said.

Property insurer Chubb Corp, a major player in the U.S. Northeast, has suspended share buybacks because it is unsure how large its losses will be from Superstorm Sandy.

Mortgage insurer MGIC Investment Corp said it would pay Freddie Mac $267.5 million to settle a dispute that had threatened to stop it from writing new insurance throughout the United States.

U.S. insurer USAA plans to raise $250 million of protection against natural disasters with the sale of a new catastrophe bond, despite the threat of a payout on previous such deals following Hurricane Sandy.