Swiss Re Ltd., the worlds second- biggest reinsurer, agreed to buy the U.K. pensions business of HSBC Holdings Plc for an undisclosed sum.

American International Group says Peter D. Hancock will become president and CEO effective Sept. 1, succeeding Robert H. Benmosche.

Employers are mainly taking a wait and see approach before making major changes to how they offer employee benefits, and most say they still feel it is important to continue to offer benefits to their workers even if distribution and delivery methods change, a recent survey reveals.

Travelers Cos., the lone property insurer in the Dow Jones Industrial Average, promoted Alan Schnitzer to chief executive officer of the newly created business and international insurance segment.