Soft market rates for the commercial property and casualty insurance sector show little evidence they will change in the near future, according to the Council of Insurance Agents & Brokers.

Sydney, Australia-based QBE Insurance Group Limited announced that it has agreed to acquire NAU Country Insurance Company, a crop insurer, for $565 million, highlighting a diversification goal as an impetus for the deal.

Declaring that the company has learned its lesson from the economic crisis, The Hartford's chief executive officer outlined a new strategy for growth while putting enterprise risk management front and center.

AmWINS Group Inc. has acquired Colemont Insurance Brokers in Dallas, in a move that might make it the nation's largest wholesale brokerage, one consultant suggested. Financial terms of the transaction were not released.

Agents and brokers struggling to grow in a shrinking economy cannot expect to see revenue bolstered by hardening commercial insurance prices anytime soon.

While each insurer is unique, a set of core "best" practices can transform claim operations and lead to a more profitable business paradigm in nearly any organization.

Sharon Ludlow has been appointed chief executive officer of Swiss Re in Canada and head of Canadian and English Caribbean operations, effective June 1.

While the property and casualty insurance industry is seeing signs of returning fiscal health, policyholders should monitor the financial stability of insures in their portfolio, executives advised.