Reinsurance

Property and casualty carrier employment is at the lowest level in more than 20 years, according to data published by the U.S. Labor Department's Bureau of Labor Statistics and compiled by the Insurance Information Institute.

Zurich Financial Services Group has named Thomas Huerlimann CEO of Global Corporate to take the place of Mario Vitale, who moved to Aspen Insurance Holdings.

RenaissanceRe completed the sale of its U.S. insurance businesses, while another Bermuda company, Aspen, is strengthening the leadership of its U.S. insurance operation.

Losses from the Feb. 22 New Zealand earthquake are expected to be in the $30 million to $40 million range for Swiss-based Allied World Assurance Company Holdings.

As more evidence accumulates that insurers are using less reserves to augment earnings, pressure will mount on underwriting and force carriers to begin raising rates by near double-digit figures in 2012, according to a financial analyst.

Odyssey Re Holdings Corp. said it has named Brian D. Young as its new president and chief executive officer effective April 1.