Flooding in China last month caused about $33 billion in economic losses, with less than 2 percent of the sum covered by insurers, Aon Plc said.

Coverage for trade credit and political risk can be particularly dangerous, given that the global economy faces growing protectionism.

Hartford previously divested a domestic life business, its Japan operations and a U.K. unit that offered retirement products.

Travelers Cos. said quarterly profit slipped 18 percent to its lowest since 2012 as costs tied to natural disasters rose while income from investments fell.

Berkshire Hathaway Inc. agreed to buy Medical Liability Mutual Insurance Co., extending Chairman Warren Buffetts leadership in the business of protecting doctors against lawsuits.

U.S. property-casualty insurers quarterly investment income dropped to the lowest since 2004 as falling bond yields pressured the industry.

The sum includes $140 million in the reinsurance segment and $100 million from primary coverage.

The pretax cost was about $390 million, led by events in North America, and compares with a previous internal projection of $280 million.