Commercial property and casualty rates were up 3 percent in April compared to the same month a year ago, and admitted carriers may be in the beginning stages of ceding risks back to the non-admitted market, according to MarketScout.

Nationwide Merges with Harleysville Mutual, Tower Group Invests $75 Million in Bermuda, and InVEST Raises $65,000 in Scholarship Funds

Nationwide Merges with Harleysville Mutual, Tower Group Invests $75 Million in Bermuda, and InVEST Raises $65,000 in Scholarship Funds

The U.S. Treasury has agreed to cut its ownership stake in American International Group Inc to 63 percent by selling 163.9 million shares for approximately $5 billion, with the insurer agreeing to buy back about $2 billion worth.