A unit of insurer MBIA Inc challenged Stockton, Calif.'s eligibility for bankruptcy, saying the city had not negotiated with creditors in good faith and had given preferential treatment to the California Public Employees' Retirement System.

A unit of insurer MBIA Inc challenged Stockton, Calif.'s eligibility for bankruptcy, saying the city had not negotiated with creditors in good faith and had given preferential treatment to the California Public Employees' Retirement System.

The U.S. weather agency NOAA predicted a slightly more active 2012 Atlantic hurricane season on Thursday, saying warming seas and the late arrival of El Nino would bring near-normal to above-normal storm activity.

The U.S. weather agency NOAA predicted a slightly more active 2012 Atlantic hurricane season on Thursday, saying warming seas and the late arrival of El Nino would bring near-normal to above-normal storm activity.

Munich Re, the world's biggest reinsurer, expects to beat its 2012 net profit target of $3.1 billion after rising premiums and improved underwriting performance boosted the German group's quarterly earnings.

Tropical Storm Ernesto doused Honduras and Belize as it churned through the western Caribbean on Tuesday and U.S. forecasters expected it to hit popular Mexican tourist destinations on the southern Yucatan peninsula later in the evening.

MGIC Investment Corp, one of the largest U.S. mortgage insurers, is caught between a weak housing market and a very big customer, raising questions about the future of the money-losing company that writes 20 percent of private mortgage guarantees.

MGIC Investment Corp, one of the largest U.S. mortgage insurers, is caught between a weak housing market and a very big customer, raising questions about the future of the money-losing company that writes 20 percent of private mortgage guarantees.