MBIA narrowed its first-quarter net loss by more than $340 million as the company saw a steady decline in loss severity in its structured-finance obligations.

Employment in the insurance industry increased in March relative to April, according to an Insurance Information Institute analysis of U.S. Bureau of Labor Statistics data, but the slight bump is typical of a March vs. February comparison, the I.I.I. notes.

A 5.3 magnitude earthquake has struck Spain about 218 miles south-southeast of Madrid, causing several deaths and toppling buildings, according to the U.S. Geological Survey.

PropertyCasualty360.com’s Claims Channel Editor Christina Bramlet is twittering every day about breaking news and timely topics. Check out the latest claim-related tweets.

Ambac Financial Group Inc. reports an increase in its first-quarter net loss attributed to a combination of drop in revenues and higher than expected losses in its guaranty business.

American International Group Inc. and the U.S. Department of the Treasury say they plan to offer a small portion of stock for an unset price.

A page-one New York Times article this week slammed state captive insurance laws, stating that they allow companies to “conduct Bermuda-style financial wizardry” in the U.S., but the Times company, it turns out, has its own captive domiciled in New York.

A page-one New York Times article this week slammed state captive insurance laws, stating that they allow companies to “conduct Bermuda-style financial wizardry” in the U.S., but the Times company, it turns out, has its own captive domiciled in New York.