E&S/Specialty

Arch Capital Group Ltd.s 2011 second-quarter net income dropped more than 61 percent compared to the same period a year ago as catastrophes caused $95 million in losses for the Bermuda-based specialty insurer and reinsurer.

W.R. Berkley Corp. says second-quarter net income fell about 25 percent as catastrophes during the period more than doubled compared to last year.

While property and casualty insurers have benefitted from favorable loss-reserve development in recent years, a Keefe, Bruyette & Woods analysis contends that accident years 2008 to 2010 are underreserved and that adverse development will result in the future.

American Modern Insurance Group is the newest member of the Trusted Choice consumer-branding program, the Independent Insurance Agents & Brokers of America announced last week.

American Modern Insurance Group is the newest member of the Trusted Choice consumer-branding program, the Independent Insurance Agents & Brokers of America announced last week.

Chubb Corp. says 2011 second-quarter net income dropped 19 percent, compared to the same period a year ago, to $419 million due to catastrophe losses, but its underlying commercial and personal insurance performance is solid.