Hannover Re Group reported net income rose substantially for 2009, up EUR858 million ($1.17 billion at the current exchange rate) compared to a loss for 2008.

U.S. insurers regained lost ground in 2009 with the property and casualty sector's net income nearly tripling, to $35 billion, according to the Highline Data Performance Monitor.

Senate Banking Committee Chairman Chris Dodd, D-Conn., said he did not think there was time enough to work out a bipartisan financial services legislation so he was moving his own bill.

The directors of public companies need to pay closer attention to their risk exposure and must explain to shareholders how they are managing those perils, according to a panel of executives.

The health insurance industry said it will give the Obama administration detailed data on the provisions needed for health care reform legislation to reduce skyrocketing medical care costs.

Everest Re Group, Ltd. said its preliminary loss estimate for exposures relating to the Chile earthquake is $225 million and Hannover Re Group said its quake losses stand at $253 million.

Risk retention trade groups are urging prompt House action on legislation introduced last week that will allow their members to sell commercial property insurance.

While catastrophe models can be very useful when employed properly, the human factor cannot be ignored, says NU Editor Sam Friedman in his blog today at www.NUSamSoapBox.com.