Moody's Investors Service has downgraded the insurance financial strength rating of Mortgage Guaranty Insurance Corporation (MGIC), citing material deterioration in the insurer's regulatory capital position, large current and projected claims payments, and modest new business production.

Another round of Bermuda-based reinsurers/specialty insurers has reported third-quarter earnings, and higher catastrophe losses and/or lower investment returns continue to impact results.

The U.S. Treasury Department received a $972 million repayment from American International Group, funded by proceeds from the sale of AIG'S American Life Insurance Co. subsidiary last November, the Treasury said Tuesday.

According to a recent NCCI research report, the slowest payout rate of any workers compensation service category is for prescription drugs.