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...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...This was offset by strong trading in property and casualty insurance, which helped the company generate €4.1bn in underlying earnings....
...a slimmed down, specialist property and casualty insurer....
...The company is the only big US insurer to combine life with property and casualty units, impeding comparisons with peers....
...All this should be bad news for property and casualty insurers. After all, they make money by collecting more premiums than they pay out in claims....
...AIG is the only US-listed insurer combining life and property and casualty units, making it difficult to compare with peers and depriving it of a natural investor base....
...The group plans to separate its life insurance unit from its broader property and casualty business, a move that had been long demanded and long resisted....
...Zurich Insurance is in talks to buy the US property and casualty insurance unit of New York-based MetLife, according to a statement from the Swiss company....
...He will become executive chairman, while Peter Zaffino, the 53-year-old head of AIG’s property and casualty unit, will become CEO....
...property and casualty arm....
...Premiums written in AIG’s core property and casualty insurance business are expected be flat with 2019, at $45bn....
...Insurance premiums written at the company’s big property and casualty operations were down slightly from the year before....
...Mr Shields, the KBW analyst, says that historically a rise in the share of Democratic appointees to judges on the US appeals courts leads to an increase in the reserves of held by property and casualty insurers...
...Analysts at Barclays said that the impact of the storms on the US property and casualty insurance industry should be “manageable”....
...This trend in property and casualty insurance echoes one under way in the life insurance world for a decade....
...Axa said the Axa Tianping deal made it the first foreign insurer to fully own a top-20 property and casualty insurance company in China....
...Apollo has a record in the property & casualty insurance industry....
...The insurer’s life division has performed far better than its property and casualty business, where a series of reserving charges and muted profitability have undermined investor confidence....
...Today, it is the traditional property and casualty insurance business, which accounts for almost two-thirds of revenues, that is the group’s big anxiety....
...Axa, France’s largest insurance group, has agreed to buy XL Group, a Bermuda-based property and casualty insurance company for $15.3bn....
...Consultants at BCG say that the property and casualty insurance industry as a whole could generate an extra $200bn of profits by using the technology....
...Axa, France’s largest insurance group, is in talks to buy XL Group, a Bermuda-based property and casualty insurance company that has a market value in excess of $11bn....
...French insurer Axa is to buy Bermuda-based XL Group in a $15.3bn deal that cements its position as one of the world’s biggest property and casualty insurance companies....
...Allianz, for example, has been looking for acquisitions in property and casualty insurance for a number of years....
...QBE will use Cytora’s “risk engine” across its property and casualty lines from next year....
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