Reinsurance

A group of 19 U.S. reinsurers saw its second-quarter net income rise by over $2 billion and saw its combined ratio fall under 100 in 2012 compared to the same period a year ago.

Less than one year after its unsuccessful pursuit of Transatlantic Holdings, Validus Holdings says it reached an agreement to buy Flagstone Reinsurance Holdings for about $623 million in cash and stock.

Less than one year after its unsuccessful pursuit of Transatlantic Holdings, Validus Holdings says it reached an agreement to buy Flagstone Reinsurance Holdings for about $623 million in cash and stock.

The Federal Insurance Office is being told the government should support the private reinsurance market and think long and hard before creating any government backstop that would displace the current system.

The Federal Insurance Office is being told the government should support the private reinsurance market and think long and hard before creating any government backstop that would displace the current system.

Tropical Storm Isaac weakened slightly as it dumped heavy rain off Puerto Rico and the Virgin Islands on Thursday but it was expected to strengthen into a hurricane before tearing across the Dominican Republic and Haiti, U.S. forecasters said.