News from Philadelphia, Crawford, inVEST, ACE Group and more

PartnerRe jumped in New York trading after Insurance Insider reported that the reinsurer, which agreed last month to merge with Axis, might draw bids from rivals to break up the deal.

Two of Texas most-powerful lobbies, the insurance industry and trial lawyers, are gearing up for a fight over a push to ease penalties against companies that deny homeowners their hail-damage claims.

Allstate agreed to settle a 2011 lawsuit accusing Morgan Stanley of fraud over more than $100 million worth of mortgage-backed securities in which the insurer invested.