E&S/Specialty

The defection of four top AIG executives to Berkshire Hathaway signals an aggressive attack by Ajit Jain, head of Berkshire Hathaways reinsurance business, on Robert Benmosches dominant and highly profitable AIG surplus lines business.

The defection of four top AIG executives to Berkshire Hathaway signals an aggressive attack by Ajit Jain, head of Berkshire Hathaways reinsurance business, on Robert Benmosches dominant and highly profitable AIG surplus lines business.

Jeremy Johnson, a former insurance broker, has been named head of American International Group's surplus lines business.

CNA says rate increases helped push net operating income up by 2 percent for Q1 2013. Net income remained unchanged compared to last year's first quarter at $250 million

Bond insurer MBIA is working with law firm Weil Gotshal & Manges as it seeks to avoid possible rehabilitation of its structured finance unit by a New York regulator, says a source familiar with the matter.

Unfortunately, it looks as if the West Fertilizer Co. was significantly underinsured.