Reinsurance

Information from autonomous ocean robots may revolutionize the way P&C providers use CAT modeling.

The newly-signed MOU will aid insurance supervisors in the U.S. and Bermuda in coordinating on regulatory issues.

RSA Insurance Group Plc rose in London trading after Switzerlands Zurich Insurance Group AG proposed to buy the company for about 5.6 billion pounds ($8.8 billion).

Munich Re, the worlds biggest reinsurer, raised its full-year profit target after net income beat analyst estimates on lower catastrophe claims. The shares rose.

Exor SpA agreed to buy PartnerRe Ltd. for about $6.9 billion in its biggest single acquisition in more than a century after the reinsurer scrapped a deal with rival Axis Capital Holdings Ltd.

PartnerRe Ltd., the reinsurer that agreed to merge with Axis Capital Holdings Ltd., said it will enter negotiations with hostile bidder Exor SpA after the Italian companys latest cash offer for more than $6.7 billion.