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Zurich Financial Services Group said the insurance industry is undergoing changes at a pace rarely seen as a combination of factors are no longer producing the benefits the industry has enjoyed in the past.
Tokio Millennium Re Ltd. and Allied World Assurance Company are the seventh and eighth Bermuda-based reinsurers authorized to post reduced collateral requirements to operate in Florida.
The Treasury Department said Wednesday that a sale of MetLife Inc. stock by American International Group Inc. brought in $6.3 billion, which will go toward repaying a portion of the taxpayer bailout of the insurance company.
American Family Insurance Group said storm and catastrophe losses in 2010 were $270 million higher than expected but the mutual company managed to increase policyholder equity $605.6 million during the year.
If there were any questions about what happened to some former executives at Brown & Brown that appeared to abruptly leave the company, those questions were answered this week by the private equity firm GTCR.
Billionaire Warren Buffett's Berkshire Hathaway is entering the Indian insurance market as a corporate agent for Bajaj Allianz, the companies said.
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