Regulators' designation of Allianz as a systemically relevant insurer will throw up new challenges for the German company, its chief executive said.

Insurance company finance departments are more often being asked for decision support and strategic advice, prompting transformation initiatives to evolve the function into an internal business partnering role by strengthening its link to broader enterprise goals.

House Majority Leader Rep. Eric Cantor will need more time to marshall votes for a bill that would alter scheduled NFIP rate hikes as he contends with a flood issue that is causing a divide among traditional allies.