The U.S. Treasury Department said on Friday it expects to raise $5 billion from its sale of AIG stock, cutting the government's stake in the bailed-out insurer to 55 percent.

Arthur J. Gallagher led all insurance brokers in July with five announced acquisitions.

In this weekly segment, we bring you the top stories from PropertyCasualty360.com for the week. Click to see the top stories for the week of July 30, 2012.

Europe's biggest insurer, Allianz, is worried about the role central banks may have played in an interest rate rigging scandal that has enveloped some leading international lenders, the insurer's chief financial officer said on Friday.