Regulation/Legislation

Deputy Treasury Secretary Neal Wolin says the staff of the new Federal Insurance Office has already begun work and served an “important consultative role” in advising on several issues related to the new Dodd-Frank financial services reform law.

An insurer's data is much more than bits and bytes to be assembled for required regulatory reporting. It is the very lifeblood of the insurance organization and provides the ingredients by which the insight is developed that drives action to improve operational results.

A risk retention group organization praised actions taken by New Jersey Governor Chris Christie and Nevada Insurance Commissioner Brett Barratt to kill proposals that the organization says would discriminate against RRGs.

MBIA narrowed its first-quarter net loss by more than $340 million as the company saw a steady decline in loss severity in its structured-finance obligations.

Ambac Financial Group Inc. reports an increase in its first-quarter net loss attributed to a combination of drop in revenues and higher than expected losses in its guaranty business.

American International Group Inc. and the U.S. Department of the Treasury say they plan to offer a small portion of stock for an unset price.