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...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...An insurance company “needs to have the longer-term alignment”, Borean said, adding that each situation needs to be viewed on a “case-by-case basis”....
...Wilko was one of the biggest retail casualties in the UK since the collapse of Sir Philip Green’s retail empire and department store chain Debenhams....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Wilko fell into administration in August, in one of the UK high street’s biggest casualties in recent years....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...,” which is Florida’s state-run insurance company....
...These costs would presumably be reflected in property and casualty insurance rates, along with many other pressures that are affecting the world right now....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...As at the end of 2022, US insurers (primarily life insurance companies) held some 20 per cent of all outstanding US commercial mortgage loans, accounting for 9 per cent of the insurance industry’s total...
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Among Berkshire’s operating segments, the backbone insurance business has had a strong 2023. High interest rates have boosted investing income in 2023....
...Having outperformed other financials last year, the S&P Property & Casualty Insurance index is down 7 per cent so far this year. That compares with the S&P 500’s 15 per cent gain....
...If a combined ratio is above 100, that means a company’s insurance business is unprofitable, or it’s paying out more in claims and operating expenses than it is earning in premiums....
...This was offset by strong trading in property and casualty insurance, which helped the company generate €4.1bn in underlying earnings....
...Across the board, US property & casualty insurers had a $27bn net underwriting loss last year, their worst performance since 2011....
...Five long positions in five very different industries (property casualty insurance; discount retail; health insurance; aerospace and defence; travel)....
...One company was looking to commission a ship with “fully contained” storage for cars, Gunn added. Shipowners could face growing pressure from clients to make these kinds of upgrades....
...But crises happen in 8Ks — the normally innocuous ad hoc filings that also accompany company emergencies — not 10Ks....
...On Wednesday, insurance brokerage Aon struck a deal to acquire NFP, a private equity-backed midsized property and casualty broker, for $13.4bn....
...So they are an insurance company for insurance companies. They do have a primary property casualty insurance unit, but mostly they’re reinsurance....
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