The Obama administration proposed phasing out older tank cars tied to a deadly derailment a year ago and lowering speed limits as part of a set of new rules intended to reduce the risks of hauling crude oil by rail.

Ace Ltd. Chief Executive Officer Evan Greenberg said the insurers formula for integrating companies gives him confidence that he can handle risks in emerging markets, even as he faulted Brazilian leaders for lousy economic policies.

Texas sustained $1.8 billion in 2014 first-half catastrophe lossesincluding $1.4 billion in Q2to lead all states during what was generally a mild stretch for cats in the U.S.