News

OneBeacon Insurance Group, Ltd. in Bermuda said its first-quarter estimated combined ratio will be 112, including approximately $44 million, or 10 points, of mostly U.S.-based pretax catastrophe losses.

The House Financial Services Committee has decided to delay action on legislation providing a long-term reauthorization of the National Flood Insurance Program until Tuesday.

Wells Fargo reported first-quarter insurance segment earnings rose 7 percent, contributing to overall net income of $2.5 billion for the San Francisco-based bank.

The Council of Insurance Brokers of Greater New York said it will join the legal effort to defeat New York's compensation disclosure rule for agents and brokers.

Insurers are now able to file a single report to multiple state insurance departments through Insurance Services Office and the National Insurance Crime Bureau, it was announced.

Property and casualty insurance sector rates will begin to firm up in 2011, according to the most recent industry forecast from Conning Research & Consulting.