Hints and tips:
...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....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...In recent months, both State Farm and Allstate have announced plans to stop writing new policies in fire-prone California....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...“Fire fighting [is] very difficult” on modern car carriers, said Richard Gunn, a casualty lawyer at law firm Reed Smith, who added that ships tended to be built with several decks that were built as low...
...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...
...The share price of two of the largest US car insurance companies — Take Allstate and Progressive — have fallen in the past month, reflecting the rising costs of underwriting auto insurance policies....
...So far, we are suffering financial casualties rather than full-blown collapse, a credit squeeze rather than crunch....
...Signature’s sudden collapse was an early casualty of the turmoil now sweeping across the banking sector....
...No casualties were reported on either side....
...Ecommerce site eBay, cleaning goods manufacturer Clorox, and insurance companies Allstate and MetLife report after Wall Street’s closing bell....
...Escalating court awards for casualty damages, especially in the US, are driving up premiums in that area too. Adding to the upward pressure on prices has been the sudden jump in inflation....
...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....
...Gold told Mack he was investigating the wrong person and should fire Gilbert. “I said give us the proof, and we’ll investigate it....
...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....
...“I’m not saying I can beat Allstate,” Wand says, referring to the 89 year-old, $35bn market cap insurance group....
...A bank can’t be sure it will get insurance for a warehouse in the California hills where forest fires are becoming more devastating....
...An unexpected victim of the Greensill fallout The Greensill Capital scandal has claimed another casualty....
...According to one senior executive, the US property and casualty insurance sector as a whole has $850bn of capital....
...The settlement was less than the $20bn a group of insurance claimants - including the likes of AIG, Allianz, Allstate, Farmers Insurance Exchange and hedge fund Baupost Group - had sought, prompting some...
...As in previous years, more money went into property and casualty insurance start-ups than life and health insurance companies....
...In trading updates on Thursday, the two companies said that prices for property and casualty insurance had been rising, echoing comments made by other insurers over the past few weeks....
...Mercedes’ top 10 China’s Huawei is a casualty of the coronavirus....
...AOB: DataCubes, an underwriting platform for US property & casualty insurance, has raised $15m; Ireland-based Siren, which describes itself as an “investigative intelligence platform”, has raised $10m to...
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