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New York Insurance Superintendent Eric Dinallo announced today that he has begun an inquiry into whether Allstate Corporation engaged in illegal participation in unregulated insurance markets.

Following the announcement yesterday that Farmers Group Inc. had purchased 21st Century Insurance for $1.9 billion, Farmers' chief executive suggested that major job cuts are not in the cards for the new acquisition.

The January agreement for government units in charge of New Orleans levees to pay something to property owners damaged by the flooding from Hurricanes Katrina and Rita is now mired in a coverage dispute.

MajescoMastek, the U.S. subsidiary of global solutions provider Mastek Limited, has entered into a partnership agreement with Flexi Software, a provider of financial accounting software, to deliver

Zurich Financial Services Group announced today that through a share offering it had raised $1.08 billion towards the $1.9 billion purchase of 21st Century Insurance from American International Group.

Parsippany, N.J.-based York Insurance Services Group Inc. said Anthony Galioto, a former American International Group executive, will become the firm's president and chief executive officer.

Congressman Elijah E. Cummings, D-Md., reiterated a demand that American International Group Chief Executive Edward Liddy resign in the wake of a disclosure yesterday that Mr. Liddy has a substantial interest in Goldman Sachs.

American International Group Inc. and Zurich Financial Services Group announced a $1.9 billion deal today for the sale of AIG's auto unit, 21st Century Insurance Group, to Zurich's Farmers Group Inc.