The House Financial Services Committee plans to release draft legislation and hold a markup in June on Terrorism Risk Insurance Act reauthorization legislation, a key member of the committee said today.

While voicing skepticism over TRIA's necessity, the CFA voiced measured support for Senate legislation that would extend the program for another seven years.

American International Groups property and casualty combined ratio will see improvement this year, Peter Hancock, CEO of AIGs P&C operations, told analysts this morning after problems at the P&C unit drove down operating income.

American International Group is reducing its stock buybacks to bulk up its capital as part of its efforts to transition to federal oversight as a systemically significant financial institution, President and CEO Robert Benmosche acknowledged today.

Stakeholders seeking reauthorization of the Terrorism Risk Insurance Act are holding an emergency meeting today to discuss next steps in the wake of an alarming draft House bill that would effectively phase out the program over three years.

The House and Senate both introduced bills stipulating that federal regulators must use state-based metrics.

The House bill's sponsor was indicted in Brooklyn on Monday on federal charges of underreporting payroll while running a New York restaurant.

SNL reports a slight growth to the category last year, but more growth expected in 2014 as Congress cuts subsidies