A sinkhole swallowed parts of two houses on Florida's west coast on Thursday and seven nearby homes were evacuated as it continued to expand more than six hours after being discovered, a local official said.

A sinkhole swallowed parts of two houses on Florida's west coast on Thursday and seven nearby homes were evacuated as it continued to expand more than six hours after being discovered, a local official said.

Zurich Insurance, rocked by the suicide of its finance chief less than three months ago, said on Thursday it would miss a year-end profitability target in its largest unit General Insurance.

A build-up of man-made greenhouse gases in the atmosphere means a warmer future is now inevitable, says the World Meteorological Organization.

The European Union is close to agreeing to new rules which will force insurers to hold enough capital to keep policyholders safe, after years of delay.

The European Union is close to agreeing to new rules which will force insurers to hold enough capital to keep policyholders safe, after years of delay.

Super Typhoon Haiyan destroyed about 70 to 80 percent of structures in its path as it tore through Leyte province on Nov. 8. Huge waves from one of the strongest storms ever recorded swept away coastal villages.

Allianz said it expected operating profit of slightly more than $13 billion in 2013, edging over the top of its own target range and in line with analysts' expectations.