Hints and tips:
...Keese predicted that the market’s “reinsurance to close” mechanism at Lloyd’s — where underwriting books are effectively closed after three years and reinsured — would allow other areas of property & casualty...
...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....
...Until now, many of the transactions had involved smaller underwriters based in Bermuda and at Lloyd’s of London, where the pressures — caused largely by low interest rates and a flood of capital pouring...
...Global premium income from cyber insurance is estimated to amount to £1.5bn-£2bn a year — just 0.1 per cent of the property and casualty sector....
...The tie-up, billed as a merger of equals, is expected to create a new S&P 500 company and an enlarged rival to Warren Buffett's Berkshire Hathaway, Lloyd’s of London and Munich Re....
...According to data from AM Best, the specialist insurance rating agency, US property and casualty insurers paid $2.65bn to brokers in “direct contingent commission” in 2011....
...Following the devastating earthquake and tsunami that hit north-east Japan, the strongest in 140 years, the US’s KBW property and casualty index fell 0.7 per cent, even as the broader market saw gains....
...So, I left them to build a group of insurance companies for Bankers Trust at the end of ‘91 and so at the end of ‘92 we capitalised four insurance companies with 90 million bucks or something and grew that...
...It writes energy, marine, property and aviation catastrophe insurance from the London company market, specialising in business for which the extent of claims is known relatively quickly....
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