Reinsurance

Maurice Hank Greenberg, the former chairman of American International Group Inc., lost a bid to throw out the New York attorney generals 2005 lawsuit over alleged sham transactions intended to inflate the insurers financial health.

Strong competition among insurers contributed to a general softening of US umbrella and excess liability rates in the first quarter of 2014.

Hannover Re, the worlds third-biggest reinsurer, reported that first-quarter profit was little changed as rates charged by the industry remain under pressure.

The run of agent and broker monthly employment gains that began in June 2013 ended in March, as the subsector shed 200 jobs during that month, according to an analysis of the latest BLS figures.

Marsh & McLennan President and CEO Dan Glaser says he anticipated a pretty tough year for Guy Carpenter given challenges in the reinsurance market overall, but adds the business is "a true Jewel" for MMC.

Berkshire Hathaway Inc. reported a 3.8% decline in first-quarter profit, as underwriting results declined at insurance businesses and on reduced earnings from Chairman Warren Buffetts derivatives wagers.