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Specialty insurer Assurant, Inc. says it will purchase U.K. mobile phone insurance insurer Lifestyle Services Group for $160 million, a move Moodys Investors Service says should help diversify Assurants sources of net operating income over time.

Reinsurer Munich Re is likely to face damage claims of $333-466 million from flooding in central Europe, a bank analyst predicted on Friday, after Allianz pencilled in its own net hit at 350 million.

German insurers are likely to face damage claims from current flooding in the country that are higher than the 1.8 billion euros ($2.4 billion) seen in the Elbe River floods of 2002.

Warren Buffett's Berkshire Hathaway conglomerate is claiming up to $1 billion from reinsurer Swiss Re in a dispute over a life insurance deal they agreed to in 2010.

Munich Re raised its full-year net profit target after surging investment income and moderate damage claims helped it beat even the most optimistic estimates for third- quarter profit.

Munich Re raised its full-year net profit target after surging investment income and moderate damage claims helped it beat even the most optimistic estimates for third- quarter profit.

Ambac has pulled out of a suit against Bank of America Corp. involving an $8.5 billion mortgage-bond settlement.

Ambac has pulled out of a suit against Bank of America Corp. involving an $8.5 billion mortgage-bond settlement.