Commercial Lines

Rating agency A.M. Best Co. says the deal reached in Washington to raise increase the U.S. debt ceiling does not get rid of uncertainty regarding the credit quality of U.S. government debt.

Troubled guaranty insurer Ambac Financial Group Inc. reports its net loss increased by $45 million driven by several factors including lower net premiums.

Guaranty insurer MBIA says its second quarter performance was good despite reporting a $1.2 billion drop in net income over the same period last year.

The Association of British Insurers says insurers are expecting significant losses of more than 100 million pounds ($162 million) from damages caused by rioting in boroughs of London and other cities.

While Standard & Poors recent downgrade of U.S. long-term sovereign debt is not expected to have a meaningful direct impact on property and casualty insurers, the indirect impact of the downgrade, as a reflection of economic uncertainty, could be more significant and could prolong the soft market cycle, according to...

Insurers and reinsurers will not be impacted by Standard & Poors U.S. sovereign rating downgrade, says the president of the Insurance Information Institute.