American International Group said the sale of one foreign insurer and the initial public offering of a second have raised enough money to repay a line of credit it has with the Federal Reserve Bank of New York.

With its third-quarter net income result doubling over last year, and its capital position improving, Swiss Re said it has reached agreement to repay Berkshire Hathaway, which injected $2.6 billion into the Zurich-based reinsurer last year.

Haiti and Cuba were spared the full force of Hurricane Tomas over the weekend as the storm skirted the islands through the Windward Strait without making landfall.

With U.S. property and casualty insurance rates falling 4 percent in October 2010, the industry may be experiencing a "new normal" in terms of market conditions, according to an executive.

American International Group announced that Sid Sankaran will join the company as senior vice president and chief risk officer.

In an important ruling this summer, the Eighth Circuit Court of Appeals decided that an online marketing firm was entitled to defense cost coverage under two different types of liability policies for the same spyware download incident.

Liberty Mutual Group said net profits more than doubled from a year ago in the 2010 third quarter, and reiterated in a later conference call that it has no plans to take the entire company public.

Proposed increases of 30 percent or more for certain fees by the New York State Workers' Compensation Board (WCB) could have "unintended negative consequences for the state's no-fault