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Insurance Australia Group Ltd (IAG) is set to become Australia's biggest insurer by market share after it agreed to buy the insurance underwriting businesses of Wesfarmers Ltd for $1.66 billion.

January reinsurance renewal pricing for U.S. property-catastrophe risks could be down by as much as 15-25% in the United States and 5% in Europe and the U.K., according to research from Clifford Gallant, an equity analyst with Nomura investment bank.

Although direct-channel growth in personal auto has come at the expense of the independent-agency channel, 12 of 18 personal-lines insurers that have outperformed their peers in both growth and profitability over the past decade use the independent-agency distribution channel either in whole or in part.

Although direct-channel growth in personal auto has come at the expense of the independent-agency channel, 12 of 18 personal-lines insurers that have outperformed their peers in both growth and profitability over the past decade use the independent-agency distribution channel either in whole or in part.

An agent talks about how to beat 'em at their own game.

An agent talks about how to beat 'em at their own game.

In auto insurance, the direct model is winning, the value of independent agents is diminishing and the proof is in an examination of the continued rise of Geicothe only major pure direct modelversus challenges at Progressive Corp. due to a legacy agency business, according to an analysis released today.

The New York Federal Reserve said on Thursday it sold all its TRIAXX collateralized debt obligations from a portfolio of assets that was used in the government bailout of insurer AIG to Merrill Lynch, following a competitive bid process with eight other Wall Street firms.