Reinsurance

A group of 19 U.S. reinsurers more than doubled its first-quarter net income in 2013 compared to the year before thanks in large part to a dramatic turnaround in net underwriting gains.

Companies doing business within state are now authorized to self-insure, or provide reinsurance for, its own and its affiliates operational risks such as employee benefit plans, liability insurance and workers compensation insurance.

Hank Greenberg should still face trial over sham transactions he is accused of orchestrating while he was head of AIG, even though New York has dropped most of its claims against him, a state lawyer argued.

The fault lines between domestic and offshore insurers again opened due to bills in the House and Senate of legislation that would reduce the tax benefits foreign insurers receive by ceding U.S. property and casualty premiums to their foreign affiliates.

Emerging markets will see the highest growth in premiums for insurance companies this year and next, while Europe lags, according to the world's biggest reinsurer, Munich Re.

This years April storm losses were significantly lighter than the past two years when record number of tornadoes touched down in the U.S. causing billions of dollars in damage, according to Aon Benfield.