Sen. Tim Johnson, D-S.D., chairman of the Senate Banking Committee, has announced he will not run for re-election.

The Lloyd's of London insurance market returned to profit in 2012, bouncing back from a 516 million pounds loss in 2011 after claims fell on account of fewer natural disasters.

Despite initial concerns about the impact of Superstorm Sandy on 2012 results, a collection of U.S. P&C insurers reported manageable underwriting losses for the year, according to ALIRT Insurance Research.

Congress is taking one of its first steps toward oversight of Federal Insurance Office activities by questioning the FIO's stance on key international insurance regulatory proposals.