News

American International Group Inc. reports a third-quarter loss of $4.1 billion, but CEO Robert H. Benmosche insists the company is in "very good shape," with $15.3 billion in liquidity.

During its recent 67th annual meeting and seminar, the CPCU Society announced its lineup of directors and officers.

Despite the significant amount of catastrophe losses and stress from the weak economic conditions, the insurance industry could be on the cusp of taking off as the demand for the industrys risk expertise continues to grow, the chief executive of Willis Group says.

Auto insurers Mercury General Corp., Infinity Property and Casualty Corp. and Safety Insurance Group Inc. each report drops in third-quarter income, with Los Angeles-based Mercury General posting a $3.8 million loss.

Auto insurers Mercury General Corp., Infinity Property and Casualty Corp. and Safety Insurance Group Inc. each report drops in third-quarter income, with Los Angeles-based Mercury General posting a $3.8 million loss.

Global reinsurer Swiss Re says 2011 third quarter net income was $1.3 billion, up 118 percent from $618 million in the 2010 third quarter as the company saw positive contribution from all segments.