Hints and tips:
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...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....
...Meanwhile, Berkshire remains so well-capitalised, it should absorb any property and casualty claims from its customers....
...a slimmed down, specialist property and casualty insurer....
...On Monday, Berkshire announced it would buy the property and casualty insurer Alleghany Corporation for $11.6bn in cash. Buffett has known Alleghany for years....
...The company is the only big US insurer to combine life with property and casualty units, impeding comparisons with peers....
...A key area of Alleghany’s operations is property and casualty insurance and reinsurance, expanded under the leadership of chief executive Weston Hicks between 2004 and 2021....
...But one of the jewelled eggs was bought in 2004 by the now sanctioned oil and gas mogul Viktor Vekselberg, who later passed its ownership to a company registered in Panama, Lamesa Arts Inc; it is usually...
...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....
...Alleghany, a property and casualty insurance and reinsurer, has long been described as a mini-Berkshire Hathaway....
...Swiss insurer Zurich is to expand in the US with its $3.9bn acquisition of MetLife’s property and casualty insurance business....
...Zurich Insurance is in talks to buy the US property and casualty insurance unit of New York-based MetLife, according to a statement from the Swiss company....
...State National is a speciality property-casualty insurer rather than a car insurer....
...The company also said that Peter Zaffino, the 53-year-old head of the property and casualty insurance unit, would succeed Brian Duperreault, 73, who has been group chief executive since May 2017 and would...
...The group plans to separate its life insurance unit from its broader property and casualty business, a move that had been long demanded and long resisted....
...“The top four property & casualty [insurance] carriers in the US were established in and around the great depression and their product offering hasn’t changed a whole lot since then.”...
...Premiums written in AIG’s core property and casualty insurance business are expected be flat with 2019, at $45bn....
...Insurance premiums written at the company’s big property and casualty operations were down slightly from the year before....
...Property and casualty cover is seen as a far more natural home....
...Net property and casualty premiums written — a measure of sales activity, less risks passed on to reinsurers — fell 6 per cent from the year before....
...Exane likes Sampo and Lancashire as the most defensive of the property and casualty insurers....
...This trend in property and casualty insurance echoes one under way in the life insurance world for a decade....
...Axa announced earlier this year that it was buying XL Group in a $15.3bn deal that will cement its position as one of the world’s biggest property and casualty insurance companies....
...Mr Icahn said on Thursday he had taken a 9.4 per cent stake in the New York-based property and casualty insurance company and that he opposed the deal....
...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....
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