Commercial Lines

The president of Travelers says the increased severity of weather events is forcing the company to increase rate over the long term, regardless of whether or not the climate is changing.

The president of Travelers says the increased severity of weather events is forcing the company to increase rate over the long term, regardless of whether or not the climate is changing.

Arch Capital Group last Friday acquired CMG Mortgage Insurance Co. from PMI Mortgage Insurance Co., a move that Moodys Investors Service sees as positive for Arch but credit-negative for existing players in the mortgage-insurance market that may have to contend with well-capitalized new entrants going forward.

Despite $400 million in claims payments and other costs related to Superstorm Sandy, fourth-quarter net income at Nationwide jumped to $176 million in 2012 from $35 million in the prior year.

Despite $400 million in claims payments and other costs related to Superstorm Sandy, fourth-quarter net income at Nationwide jumped to $176 million in 2012 from $35 million in the prior year.

Zurich Insurance beat forecasts with a 3 percent rise in 2012 net profit after big fourth-quarter investment gains offset charges taken against its German business and Storm Sandy-related payouts.