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California enacted a law Monday that allows the state to keep all the premium taxes generated by the surplus lines industry.

American International Group is apparently seeking to take advantage of a strengthening airplane-leasing market by selling part of its International Lease Finance Corp. unit through an initial public offering.

Chicago-based insurance broker Aon Corp. says it has acquired Westfield Financial Corp. and its subsidiary, the Ward Financial Group, from Ohio Farmers Insurance Co.

Chicago-based insurance broker Aon Corp. says it has acquired Westfield Financial Corp. and its subsidiary, the Ward Financial Group, from Ohio Farmers Insurance Co.

The lackluster economy, loss of contingent commissions and business issues at certain offices conspired to reduce insurance broker Brown & Brown Inc.’s net income by 10 percent for the 2011 second quarter of this year.

The lackluster economy, loss of contingent commissions and business issues at certain offices conspired to reduce insurance broker Brown & Brown Inc.’s net income by 10 percent for the 2011 second quarter of this year.

Validus Holdings’ bid for Transatlantic Holdings, if successful, will be credit-positive for Validus due to strategic benefits, but credit-negative for Transatlantic due to higher catastrophe leverage, according to Moody’s.