Reinsurance

Munich Re reported that 2010 first-half net income rose 6 percent on the strength of investment income that rose 43 percent, but the Munich, Germany-based insurer warned that claims losses may cause challenges going forward.

Catlin Group Limited has named Peter Schmidt as chief executive officer, European Reinsurance.

Flagstone Reinsurance Holdings said second-quarter gross losses incurred from the Deepwater Horizon oil rig disaster were $45.7 million, including its Lloyd's operation.

Hamilton, Bermuda-based insurance and reinsurance company Arch Capital Group Ltd. reported second-quarter net income rose 54 percent as overall catastrophe losses were light.

President Barack Obama signed financial services reform into law last week, setting in motion an intense effort by interested parties to shape the regulations and government bodies that will implement the legislation to their liking.

AIG agreed to pay $725 million to Ohio and Florida public pension plan funds in a securities class-action settlement to resolve bid-rigging allegations that the funds said had negatively impacted the company's value.