Reinsurance

Net income was down for two reinsurers reporting 2010 third-quarter results, while profit for a specialty lines insurance and treaty reinsurance company returned to the black.

A vibrant farm industry is currently helping the crop insurance industry cope with the Agriculture Department's decision to substantively cut back its subsidy program, "but every year is a new year."

Alterra Capital Holdings Limited announced that Stephen J. Vaccaro Jr., chief executive officer of Alterra Specialty, was presented with the Service to Industry Award by the Professional Insurance Wholesalers Association of New York State (PIWA).

Property and casualty and life and health insurance companies worldwide are asking the Group of Twenty to differentiate their industries from banks in crafting measures designed to address systemic risk.

A New York state judge ruled that former American International Group Chief Executive Maurice "Hank" Greenberg was liable for damages on a reinsurance contract that the state's attorney general said helped the insurer hide losses.

Although economists generally do not expect sharp increases in inflation, insurers should develop plans to consider how they will respond if inflation surges.