Reinsurance

AXIS Capital Holdings Limited says it expects between $90 million and $105 million in second-quarter losses, net of reinsurance, tax and reinstatement premiums, from a June aftershock in Christchurch, New Zealand and from April and May U.S. storms.

Procedures to unwind troubled insurance companies can be complicated by unforeseen tax issues, blindsiding stakeholders—regulators, creditors, owners of troubled companies, and even healthy ones included in consolidated returns—at a time when none of these parties is focusing on the Internal Revenue Service.

A quiet second-quarter catastrophe-bond market reflects the desire among investors to put their money into places other than U.S. hurricane risks, a report from Willis Group Holdings says.

Validus Holdings has swooped in on Allied World Assurance to make a $3.5 billion bid to buy Transatlantic Holdings.

The U.S. House has passed legislation to reauthorize the National Flood Insurance Program until Sept. 30, 2016.

The property and casualty insurance industry’s earnings are expected to be modest for the first half of this year after insurers were hit by a series of weather-related losses, according to a financial analyst’s report.