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First-quarter fee income for bank-owned insurance brokerage firms slipped more than 5 percent largely due to the income drop at two major brokerage firms, Wells Fargo and Citigroup.

For the first time in 150 years, an insurer will be federally regulated. AIG has chosen not to challenge its designation by the Fed as a systemically important financial institution.

For the first time in 150 years, an insurer will be federally regulated. AIG has chosen not to challenge its designation by the Fed as a systemically important financial institution.

Wells Fargo overtook Citigroup Inc. in 2012 to lead all banks in insurance brokerage fee income, according to a recent report, but overall insurance brokerage fee income for banks dropped 20 percent for the year.

New York State governor Andrew Cuomo has named 10 banks, including Capital One Financial Corp and SunTrust Banks Inc, that he says are sitting on $41 million in insurance money owed to victims of Superstorm Sandy, which hit the northeastern United States last year.

New York State governor Andrew Cuomo has named 10 banks, including Capital One Financial Corp and SunTrust Banks Inc, that he says are sitting on $41 million in insurance money owed to victims of Superstorm Sandy, which hit the northeastern United States last year.

Lockton acquired Strategic Insurance & Risk Solutions, Swett & Crawford acquired Griffin, The Hilb Group acquired The Pennoyer Group. New programs from SeaFire Insurance Services, Allied World U.S. and Ascent Underwriting. Fonality to integrate web client with Box. Alliance Intermediaries formed.

Specialty insurer Markel Corp said it will buy Alterra Capital HoldingsLtd for about $3 billion in cash and stock to diversify into reinsurance.