Global specialty insurer Torus said it has established a managing general agency in Bermuda for its United Kingdom-based excess and surplus lines company, Torus Insurance (UK) Limited.

Munich Reinsurance Company said today it will resume its share buy-back program from Oct. 1 extending until its annual meeting on April 28, 2010 at the latest.

Demand will increase for in-house risk managers and exploration of enterprise risk management opportunities and better risk data will characterize the future risk world, Aon insurance brokerage forecasted.

Catastrophic property damage has occurred in Indonesia due to a killer earthquake off the coast of Southern Sumatra, Indonesia, but one catastrophe modeling firm said insured losses are expected to be light.

Despite the current soft market and economic challenges, the best-run larger insurance agencies are hiring new personnel and increasing their staff size, a trade group report said.

Proposed bill language would require members of Congress and congressional staff to get their health insurance through health exchange providers that would be authorized by legislation being considered by a Senate panel.

Federal Reserve Board Chairman Ben Bernanke told Congress today that the financial crisis has demonstrated the need for "systemically important" insurance companies to be subjected to federal controls.

The Hartford Financial Services Group Inc. announced today that longtime banking executive Liam E. McGee, 55, has been appointed the company's chairman and chief executive officer to succeed a retiring Ramani Ayer.