News

Eight insurance industry trade groups have written the Senate urging it to reject an amendment they said would "substantially weaken" the proposed Office of National Insurance's authority to address international trade issues.

Zurich Financial Services Group reported first-quarter net income rose 76 percent despite challenges from catastrophe losses and a decline in demand for insurance products due to the economic downturn.

Workers' compensation insurers have seen net written premium dive 23 percent from 2007 to 2009, the chief executive of the National Council on Compensation Insurance told a conference here.

U.S. commercial property and casualty insurance premiums and corresponding rates were down 4 percent last month, but an uptick is coming for energy rates, an insurance exchange executive predicted.

Calling it a positive move, Fitch Ratings reported that U.S. insurers raised $38.6 billion in capital in 2009 through the first quarter of 2010.

Swiss Re reported first-quarter profit rose 22 percent over the same period last year despite significant catastrophe losses in its property and casualty segment that resulted in a 19.2 point increase in its combined ratio.