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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...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....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...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...
...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....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...On Wednesday, insurance brokerage Aon struck a deal to acquire NFP, a private equity-backed midsized property and casualty broker, for $13.4bn....
...Companies that directly benefit from low rates have done well. This includes the homebuilders (up 40 per cent or so) and commercial real estate plays such as Boston Properties and Simon Property Group....
...Zurich, one of Europe’s biggest insurance groups, released full-year results on Thursday, reporting a flat combined ratio — claims and expenses as a proportion of premiums — for its property and casualty...
...Signature’s sudden collapse was an early casualty of the turmoil now sweeping across the banking sector....
...Zurich’s first-half performance was driven by its property and casualty division, which posted its best-ever combined ratio — a key measure of underwriting profitability that tracks claims and expenses as...
...In the first half, the performance was driven by its property and casualty division, where Zurich posted its best combined ratio — a key measure of underwriting profitability that tracks claims and expenses...
...Early estimates have pegged potential insured losses from Hurricane Ida at between $15bn and $25bn. All this should be bad news for property and casualty insurers....
...No premiums for insurtech Once high-flying insurance start-ups like Lemonade, Hippo and Root have emerged as the biggest casualties of the broader sell off in tech stocks, the FT’s Ian Smith writes....
...for the national insurance rise to be delayed, warning that it would cause companies to “slam brakes on recruitment” to offset higher costs....
...Job moves Jacqueline Hunt, a member of Allianz’s board of management in charge of Allianz Global Investors, Pimco and the group’s US life insurance business, is in talks about an early departure, two people...
...According to real estate services and investment company CBRE, prime rents for apartments in Amsterdam fell by 3.3 per cent in the year leading up to the fourth quarter of 2020....
...That should enable it to rival Sampo as the largest Nordic property and casualty insurer. Still the size and profitability of Sampo’s core insurance business impresses....
...He was in demand as a businessman — governor of one insurance company, director of another and chair of a new technology start-up (the wrong technology as it happened, his oil gas company losing out to coal...
...property and casualty arm....
...According to the American Property Casualty Insurance Association, a trade group, the prospective cost of paying business interruption coverage just for businesses with 100 or fewer employees would be in...
...But with competing claims on some of the properties, the title insurance companies refused to provide the unconditional cover required for lenders to finance Mirae’s $5.8bn purchase....
...Property and casualty cover is seen as a far more natural home....
...The V-shaped recovery in consumer spending feels too bullish in our view....
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