News

Bermuda-based RenaissanceRe Holdings Ltd. has agreed to acquire Spectrum Partners Ltd. in a stock deal that could be worth approximately $7 million at current prices.

A sentence in the implementation guide of the National Association of Insurance Commissioners' (NAIC) proposed Model Audit Rule has been altered to clear up responsibility for auditing insurance company subsidiaries.

American International Group has reduced its holdings in reinsurer Transatlantic Holdings, Inc., to 14 percent netting the New York-based insurer $1.14 billion as it continues to sell off its assets.

American International Group and Starr International Co. Inc. squared off in federal court today over a block of AIG's stock owned by Starr International.

The chief executive of the online insurance exchange MarketScout contends that three property-casualty insurers are keeping rates low at a time when business realities call for price-hardening, but he refuses to name the offending carriers.

Insurance trade groups have told the nation's insurance regulators the work of financial rating firms is unsatisfactory, but it's not a job the regulators should attempt.