Ambac Financial Group Inc. reported a fourth-quarter net profit compared to a $2 billion loss for the 2008 period, but debt obligations cloud its future and could mean bankruptcy, the bond insurer reported today.

The property and casualty insurance group is looking at limited top-line growth, but should record a profitable first quarter despite Chilean earthquake and winter storm losses, an investment bank's analysts said.

U.S. insurance merger and acquisition activities last year were the lowest since 2002, but a pickup is already underway, fueled by pent-up demand, Conning Research & Consulting reported.

A New Jersey police officer could be wearing a different kind of uniform after being arrested and indicted on charges of arson and insurance fraud.

AmWINS Group Inc. said it has acquired Colemont Insurance Brokers in Dallas, in a move which may make it the nation's largest wholesale brokerage, a consultant suggested.

Florida Insurance Commissioner Kevin McCarty has notified CFO Alex Sink that Northern Capital Insurance Co. is insolvent.

American International Group said investment banker and restructuring expert Henry S. Miller has been added to the company board of directors to help the debt-ridden company with its recovery.

A federal judge in New Orleans has awarded $2.6 million in damages and repair costs to seven Virginia families that sued the manufacturer of Chinese drywall material.