Arthur J. Gallagher & Co. (AJG) is no longer buying certain Willis Towers Watson (WTW) brokerage operations following the collapse of the latter’s highly anticipated merger with Aon Plc.

German insurance industry association GDV has forecast around €5.5bn worth of claims due to extreme flooding earlier this month.

China's banking and insurance regulator said on Thursday that it will guide insurers to increase investment in natural disaster insurance and enrich product offerings.