Reinsurance

White Mountains Insurance Group, Ltd., said it is reorganizing its reinsurance business, news that appeared not to dramatically affect the rating of the overall company as it also reported improved second-quarter financial results.

The federal government should help regulate the insurance industry, a consumer group representative and a law professor urged a U.S. Senate panel last week.

Thunderstorms accounted for the bulk of $11.1 billion in insured natural catastrophe losses in the United States for the first half of 2009, according to figures released today by Munich Re Group.

Standard & Poor's Ratings Services lowered its ratings on six natural peril catastrophe bonds, issued in 2007 and 2008, to reflect the adjusted probability of attachment after the rating agency updated its criteria for rating these bonds.

The Hartford Financial Services Group is suing Arch Insurance Group for allegedly poaching its financial products division of scores of executives, as well as trying to steal trade secrets.

The board of IPC Holdings Ltd. has finally agreed to a merger proposal from Validus Holdings Ltd. after spurning an initial offer and multiple court battles with its corporate suitor.