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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...tycoon René Benko and his co-shareholders....
...Allstate’s 2Q underwriting results (as measured by its “combined ratio”) highlights what can happen when weather and economic conditions turn against property and casualty insurers....
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...Its property and casualty insurance division weakened, posting an overall underwriting loss reflecting worse conditions for areas such as credit insurance, but its major life and health insurance division...
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...Although people have been creating new methods to “analyse and crunch numbers for decades”, said Amrit Santhirasenan, chief executive and co-founder of insurance start-up hyperexponential, “Excel has been...
...Blackstone merged its credit and insurance investment operations in September in preparation for a push into asset-backed lending markets, Gray and co-founder Stephen Schwarzman have told shareholders....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...The US property and casualty (P&C) industry recorded a $26.5bn net underwriting loss in 2022, says rating agency AM Best....
...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...
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...part of a property slowdown in China that began with the 2021 default of China Evergrande and which shows few signs of abating....
...California last month struck a deal with insurance companies to continue writing policies for property in disaster-prone areas, after big US names such as State Farm and Allstate stopped issuing any new...
...Property and casualty insurers may comfort themselves that their exposure to climate risk is limited by annual contracts — an industry standard that enables them to reprice, limit or completely withdraw...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...Property casualty reinsurance is not cyclical, so it’s not a bet on a confusing economy; pricing and contract terms in reinsurance in particular are better and tighter now than they have been in years; and...
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Including mortgage payments, mortgage insurance and property taxes, he pays $3,500 per month more today than what he spent on rent at the family’s last home....
...Overall, the group posted a €5.1bn operating profit for the period, up 17 per cent on the same period last year, with profitability improving at its property and casualty division despite losses from European...
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
...The 62-year-old Australian, whose audacious poaching of more than 20 senior executives from asset manager Barings last month has already sparked litigation, spent 20 years running a property business that...
...Instead of buying outright, it has struck partnerships with several large insurers including AIG and Allstate, where it provides asset management services to their policies....
...Job moves UBS has named Gregor Feige and Brad Miller as co-heads of the bank’s US equity capital markets group. Santiago Gilfond has been named vice-chairman of the division....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
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