Although the details still are being worked on and the time line is open for debate, the way Jerry M. de St. Paer sees it, the question for U.S. insurers is not whether there will be convergence between U.S. GAAP and IFRS standards--but when.

Bermuda Based RenaissanceRe Holdings Ltd., announced today it has agreed to acquire Spectrum Partners, Ltd., in a stock deal worth approximately $709 million at current prices.

A bankrupt building supplies manufacturer owes New York $1.5 million for asbestos damage to city schools, an arbitration panel has ruled, the New York law department said.

In these challenging economic times for insurers, it's not enough simply to recognize the challenges: Decisionmakers must understand today's economic trends and how those are likely to impact their company and industry sector.