Despite a premium price increase push by insurers, rates remain competitive, especially for new accounts with good risk profiles, the chief executive of Brown & Brown said as the firm reported a 7 percent first-quarter decrease in net income.

Property-casualty insurers trying to keep adequate capital levels will face a tough challenge continuing past this year, a rating service said.

The economic slowdown tops the list of risk managers' concerns in a biannual survey conducted by Chicago-based insurance broker Aon Corp.

Zurich-based PERILS AG, a new company established to aggregate and provide European catastrophe insurance data, announced that Luzi Hitz has been appointed chief executive officer.