Commercial Lines

HSBC Holdings has approached the top three property-and-casualty insurers in Japan about the sale of its non-life insurance business, which could fetch more than $1 billion, sources close to the matter said on Thursday.

European insurers are financially robust and unlikely to require injections of fresh capital, barring an Italian sovereign default or break-up of the single currency area, analysts said.

European insurers are financially robust and unlikely to require injections of fresh capital, barring an Italian sovereign default or break-up of the single currency area, analysts said.

A federal court judge has preliminarily approved a $725 million settlement agreement announced more than a year ago to resolve a securities class-action lawsuit between American International Group Inc. and Ohio and Florida public pension plan funds.

Insurance carriers understand that there are no easy answers to the earnings challenge the industry is facing, and some of them believe that competing on price alone is not the answer to finding new commercial markets.

Insurance brokers say carriers are sending a clear message to themthey want to get rate where they can, but a weak economy and competitive pricing has them feeling glum about the prospects.

A federal judge has given Ambac Financial Group her approval to send its bankruptcy exit plan to creditors for a vote.

A federal judge has given Ambac Financial Group her approval to send its bankruptcy exit plan to creditors for a vote.