Reinsurance

Tropical Storm Isaac weakened slightly as it dumped heavy rain off Puerto Rico and the Virgin Islands on Thursday but it was expected to strengthen into a hurricane before tearing across the Dominican Republic and Haiti, U.S. forecasters said.

A federal court of appeals is sending back to district court a $72 million settlement General Reinsurance Corp. had with investors to resolve a securities class-action lawsuit.

Swiss Re, the world's second-biggest reinsurer, said it saw prices rising further in a continued reaction to the unusually high number of natural catastrophes last year, as it posted an unexpected quarterly profit.

Aspen Insurance Holdings says James Few is the new chief executive officer of Aspen Re, effective immediately.

Property and casualty insurer employment rose in June for the fifth straight month, raising hopes that carriers have reversed the downward employment trend that began in 2008.

Munich Re, the world's biggest reinsurer, expects to beat its 2012 net profit target of $3.1 billion after rising premiums and improved underwriting performance boosted the German group's quarterly earnings.