Prudential Financial on Thursday advanced to the final stage of the governments process for designation as a non-bank systemically important institution, according to several sources.

A convective storm front on Wednesday caused six tornado touchdowns in Alabama and Arkansas and hail and wind damage in several other states, reports EQECAT, but 2012 has seen fewer of these storm systems than last year, forecasters say.

Companies shopping in the $237 billion U.S. commercial-insurance market are purchasing liability products more than any other type of coverage, a recent study shows.

OneBeacon is selling its runoff business to Armour Group and its subsidiary dedicated to the collector car and boat market to Markel Corp.