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Britain and France are studying a proposed European Union ban on insuring tankers carrying Iranian oil to see how severe an impact it would have on trade with non-EU countries, British Foreign Secretary William Hague said on Tuesday.

Britain and France are studying a proposed European Union ban on insuring tankers carrying Iranian oil to see how severe an impact it would have on trade with non-EU countries, British Foreign Secretary William Hague said on Tuesday.

Bailed-out insurer American International Group Inc will sell its shares in Asian insurer AIA Group Ltd after a lock-up period expires in early September, Chief Executive Bob Benmosche said on Wednesday.

Bond insurer MBIA Inc's restructuring during the financial crisis must be annulled because it was based on bad information, a lawyer for banks challenging the restructuring said on Tuesday.

Bond insurer MBIA Inc's restructuring during the financial crisis must be annulled because it was based on bad information, a lawyer for banks challenging the restructuring said on Tuesday.

U.S. property and casualty insurers saw 2012 first-quarter net income soar by 69 percent as lower catastrophe losses helped drop the industrys combined ratio to 96, compared to 102 a year ago, according to a Moodys Investors Service analysis.