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Property and casualty insurers are voicing concerns that longstanding tax exemptions for municipal bonds could be disrupted as part of a broader U.S. tax-code changes being considered by Congress.
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U.S. property and casualty insurance sales gained for the first time in 13 quarters, as carriers including Allstate Corp. raised rates to counter catastrophe costs and the slowdown in demand that began in 2007.
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The 14 largest U.S. mortgage servicers must pay back homeowners for losses from foreclosures or loans that were mishandled in the wake of the housing collapse, according to consent decrees released yesterday.
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An insurance trade group wrote to President Barack Obama objecting that the Financial Stability Oversight Council doesn’t yet include two out of three required representatives with knowledge of the industry.
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The U.S. Treasury Department said it will create a panel to advise regulators on insurance issues after the industry complained it wasn’t getting enough input on the Financial Stability Oversight Council.
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U.S. property and casualty insurance sales dropped for the 12th straight quarter as employers scaled back coverage with the jobless rate near a quarter-century high.
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American International Group Inc. swung to a third-quarter loss as the bailed-out insurer wrote down the value of units it is selling and took charges tied to repaying rescue loans.
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Insurance companies are fighting the legacy of American International Group Inc. as they seek to avoid being branded systemically risky and the extra supervision that comes with that designation.
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U.S. property and casualty insurance sales gained the most in 16 quarters on a recovery of personal auto and home coverage.
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U.S. property and casualty insurers’ profitability fell to the lowest level since 2008 as losses from natural disasters exceeded gains in sales and investment income.
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