Reinsurance

Bermuda is on course to bring capital rules for insurers into line with theEuropean Union's tough new Solvency II regime, the island's financial regulator said.

Bermuda is on course to bring capital rules for insurers into line with theEuropean Union's tough new Solvency II regime, the island's financial regulator said.

Five former executives of American International Group Inc and BerkshireHathaway Inc unit Gen Re admitted to conducting a fraudulent reinsurance transaction on Friday as part of a deal to end a years-long criminal case against them.

The credit ratings of European insurers would be cut if Greece was to suffer a disorderly exit from the euro, hit by a slump in the value of their investments, credit rating agency Fitch said on Wednesday.

The credit ratings of European insurers would be cut if Greece was to suffer a disorderly exit from the euro, hit by a slump in the value of their investments, credit rating agency Fitch said on Wednesday.

Predictably, large lobbying expenditures by property and casualty insurance companies in 2011 focused on catastrophe issues and on pursuing legal reform.