Less than one year after its unsuccessful pursuit of Transatlantic Holdings, Validus Holdings says it reached an agreement to buy Flagstone Reinsurance Holdings for about $623 million in cash and stock.

Insured crop losses caused by the worst drought since 1988 could cost insurers and reinsurers more than $5 billion.

Fitch Ratings says the insurance industry should be able to manage losses from Hurricane Isaac, which, according to very early estimates, could range from $300 million to $7.5 billion.

A report from Moodys says there are significant barriers to entry in the crop-insurance market, and cuts in government subsidies could mean even more consolidation in the future.

A report from Moodys says there are significant barriers to entry in the crop-insurance market, and cuts in government subsidies could mean even more consolidation in the future.

Missouri regulators will require the states farm-mutual companies to purchase reinsurance to protect their maximum annual loss of surplus for property risks, a response to the 2011 Joplin tornado that put one insurer in distress.

Missouri regulators will require the states farm-mutual companies to purchase reinsurance to protect their maximum annual loss of surplus for property risks, a response to the 2011 Joplin tornado that put one insurer in distress.

Anne Arvia was recently named president and chief operating officer of Nationwide Direct, Affinity and Growth Solutions, which includes the Columbus, Ohio-based companys direct property and casualty sales channel, specialty insurance affinity partnerships and Veterinary Pet Insurance.