Axis Capital Holdings Ltd. on Friday said Axis Healthcare has entered the nursing home professional liability market by bringing on underwriters Dave Stoner and Jason Correll.

(Reuters) — Credit Suisse Group A.G. is trying to offload some of the risk it faces from events such as rogue trading and cyber crime by issuing a new type of insurance bond, a source familiar with the matter said on Friday.

Aspen Insurance Holdings Ltd. on Friday reported that its first-quarter net income fell 10.6% to $114.4 million as the Hamilton, Bermuda-based insurer and reinsurer continued to re-examine its business.

Everest Re Group Ltd. has launched a new credit and political risk business unit.

The earth moved, the water rained, hail fell and class-action deals piled up in the Business Insurance week in pictures.

Traditional capital dedicated to reinsurance dropped 3.5% from the previous year to $357 billion in 2015, Willis Re said Friday.

The company agreed to pay up to $100 million to settle a major legal challenge to its ride-sharing model in California and Massachusetts.

Officials have said that an increase in piracy along Indonesia’s sea border with the Philippines could make Indonesia the new Somalia, reports Reuters.

Risk Management Solutions Inc. said that property damage from the two recent earthquakes in Japan’s Kumamoto Prefecture is likely to total up to $3.5 billion, reported Asia Insurance Review.