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...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...The reinsurer was at the heart of 777’s “insurance funding model”, according to 2021 pitch documents that said 777 Re sat between third party insurers and 777 portfolio companies....
...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...
...An insurance company “needs to have the longer-term alignment”, Borean said, adding that each situation needs to be viewed on a “case-by-case basis”....
...Mercedes-Benz said Baltimore was among several ports used by the company in the US....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...,” which is Florida’s state-run insurance company....
...These costs would presumably be reflected in property and casualty insurance rates, along with many other pressures that are affecting the world right now....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...As companies exit some areas and demand higher premiums in others, affordable home insurance cover — for many an essential annual outlay, often a condition of their mortgage debt — is getting harder to secure...
...As at the end of 2022, US insurers (primarily life insurance companies) held some 20 per cent of all outstanding US commercial mortgage loans, accounting for 9 per cent of the insurance industry’s total...
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Among Berkshire’s operating segments, the backbone insurance business has had a strong 2023. High interest rates have boosted investing income in 2023....
...Having outperformed other financials last year, the S&P Property & Casualty Insurance index is down 7 per cent so far this year. That compares with the S&P 500’s 15 per cent gain....
...If a combined ratio is above 100, that means a company’s insurance business is unprofitable, or it’s paying out more in claims and operating expenses than it is earning in premiums....
...This was offset by strong trading in property and casualty insurance, which helped the company generate €4.1bn in underlying earnings....
...Across the board, US property & casualty insurers had a $27bn net underwriting loss last year, their worst performance since 2011....
...Five long positions in five very different industries (property casualty insurance; discount retail; health insurance; aerospace and defence; travel)....
...One company was looking to commission a ship with “fully contained” storage for cars, Gunn added. Shipowners could face growing pressure from clients to make these kinds of upgrades....
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