E&S/Specialty

Among the common themes that arose in PC360-NUs interviews with C-suite leaders like Swiss Re, Lloyd's and Munich Re: Growth will be a major challenge, but opportunities for expansion exist in Latin America, Specialty lines and Cyber.

The U.S. judge hearing the bankruptcy case of Stockton, California ruled on Wednesday the city does not need court approval to settle a $55,000 claim, a plan contested by capital market creditors and backed by the state's pension fund.

Insurer ACE Ltd reported a 24 percent fall in quarterly operating profit, hurt by losses related to superstorm Sandy, and forecast a full-year profit below analysts' estimates.

A $1.8 million watch owned by record producer and rapper Timbaland hasnt been seen since his 2-year-old daughter played with it. And he wants a subsidiary of AIG to compensate him for the loss.

As markets grow in developing countries and losses escalate, insurers will have to reassess risks and likely consolidate to meet the rising demand for coverages and limits, an industry executive says.

W.R. Berkley Corp. chairman and CEO William R. Berkley says he is "very pleased" with the market direction, and adds that while it's not the hardest market ever, opportunities for profitability are out there