Insurance

Citing above-average catastrophe losses, Des Moines-based EMC Insurance Group Inc. today reported an operating loss of 14 cents per share for the second quarter, compared with an operating loss of $1.08 per share for the …

National Interstate Insurance Co., an Ohio-based transportation insurance provider, announced that it is expanding its tow truck insurance product into the Midwest, North Central and Pacific Northwest states. The specialty product is offered exclusively through …

Standard Chartered PLC’s stock price fell the most in almost 24 years, as an analyst estimated it may face costs of $5.5 billion after being accused of violating U.S. money laundering laws over its dealings …

Large employers expect their health insurance costs will increase 7 percent next year, the Washington Business Journal reported. The estimate is based on a survey conducted by the National Business Group on Health. “Rising health-care costs …

Marsh & McLennan Cos. Inc. reported net income of $329 million for the quarter ended June 30, compared with $282 million in the second quarter of 2011. The company’s consolidated revenue in the second quarter of …

The hunt for the assets of Peregrine Financial Group CEO Russell Wasendorf Sr. has yielded a backyard pool, 2,000 bottles of wine, pickup trucks and some high-end photography equipment, Reuters reported.

But a receiver appointed …

A group of investors rescued Knight Capital Group Inc. in a $400 million deal that keeps the embattled leader in U.S. market-making for equities in business, but comes at a huge cost to existing shareholders, …

New York’s top financial-industry regulator is investigating whether life insurers are potentially masking their financial health through dealings with related companies, according to people familiar with the probe, The Wall Street Journal reported. 

The state’s …

United Fire Group Inc. of Cedar Rapids reported second quarter income of 58 cents per share, compared with a net loss per share of 69 cents in the year-ago quarter. Book value increased $1.62 per …

Wall Street bond dealers may be cutting their commitment to trading municipal securities as regulations have increased transparency, according to preliminary findings of an industry-backed study, Bloomberg reported.

Rules imposed in 2005 have improved the …