News

U.S. reinsurers saw a slight decline in net premiums written during the first three quarters of 2009, but the business they wrote was far more profitable, a Reinsurance Association of America survey has revealed.

Legislation giving the federal government broad authority to deal with troubled financial institutions--including insurers--passed the House Financial Services Committee last week on a tight 31-27 vote.

Thanks to changes supported by carriers and agents, most industry groups are now satisfied with legislation creating a Federal Insurance Office within the Treasury Department that was passed last week.

News about AIG broke fast and furiously last week, with questions raised about its reserve adequacy, deals closed to reduce its government debt, and an announcement that it had buried the hatchet with former CEO Maurice Greenberg.

AIG and former CEO Maurice R. "Hank" Greenberg have agreed to settle all outstanding disagreements, ending a bitter battle that ensued after Mr. Greenberg left the company in 2005 following an accounting scandal.

The title "business analyst" has been misappropriated by IT and needs to be returned to the business side. Who would have thought that a simple misnomer would have such far-reaching consequences?