Two catastrophe bonds placed late in December boosted sales of such transactions to more than $6 billion in 2012, the second highest annual total in the market's history.

Two catastrophe bonds placed late in December boosted sales of such transactions to more than $6 billion in 2012, the second highest annual total in the market's history.

The entry of new investors like hedge funds into the reinsurance market is likely to keep prices mostly flat when European customers renew policies in January, despite the industry's losses from superstorm Sandy, broker Willis Re said.

While crop insurers will likely face their worst underwriting results since 1988 due to 2012s severe drought, ratings agency A.M. Best does not expect the net impact to materially affect any insurers capital position.

After catastrophes in 2011 drove down net income for the first nine months of that year, a relatively benign first nine months in 2012 led to a rebound in insurers results, showing the large role weather plays for the insurance industry.

Applied Systems announces that the U.S. Patent and Trademark Office awarded the company two patents for technology in Applied Systems Epic, the companys agency and brokerage management system. The patented technologies provide enhanced data protection and intuitive data presentation capabilities in Epic.

Applied Systems announces that the U.S. Patent and Trademark Office awarded the company two patents for technology in Applied Systems Epic, the companys agency and brokerage management system. The patented technologies provide enhanced data protection and intuitive data presentation capabilities in Epic.

Robert Benmosche will receive the 2013 Insurance Hall of Fame award, new program from K&K Insurance Group and Kaliff Insurance, acquisitions by Marsh & McLennan, Brown & Brown, R-T Specialty and Neace Lukens, Applied Systems Epic awarded two patents.