News

Proposed changes to insurance-contract accounting standards are running into delays amid vocal opposition, but whatever final conclusions ultimately emerge, they are unlikely to have a broad impact on credit ratings since new rules, by themselves, do not alter the economic position of an entity, according to Moody’s.

The convictions of four former executives at General Reinsurance Corp. and another at American International Group Inc. have been thrown out by a federal appeals court.

Chicago-based insurer CNA says net income for the 2011 second quarter dropped 55 percent, primarily on catastrophe losses.

Chicago-based insurer CNA says net income for the 2011 second quarter dropped 55 percent, primarily on catastrophe losses.

Jardine Lloyd Thompson says net income grew by 8 percent for the first half of the year despite challenges from the continued soft market.

A well-run insurance company does not need a hard market to make a profit, and companies that are anxious to see one are desperate for the income, the chief executive of Marsh & McLennan Cos. says.