Travelers Cos. said quarterly profit slipped 18 percent to its lowest since 2012 as costs tied to natural disasters rose while income from investments fell.

Allstate is looking for a new chief investment officer to manage the insurer's credit-focused $79 billion portfolio.

A new report from S&P Global Ratings says reinsurance companies set up by hedge funds will continue to struggle.

Travelers Cos. said Doreen Spadorcia, who has been with the insurer for about 30 years, is retiring from her post as chief executive officer of personal coverage.

PartnerRe exited junk bonds and shifted funds into property as the reinsurer reshaped a $16 billion investment portfolio after being acquired by John Elkanns Exor SpA.

Insurance giant's Doug Steenland says keeping both businesses is the "right long-term position."

Evan Greenberg, who built one of the worlds largest insurers by combining Ace Ltd. and Chubb Corp. this year, sought to portray the merged company as a more stable alternative than hobbled rivals who are seeking to rebound.

Third Point said in a letter to shareholders last month that the quarter was one of the most catastrophic periods for hedge funds since the firm was founded.