Hints and tips:
...Alleghany, a property and casualty insurance and reinsurer, has long been described as a mini-Berkshire Hathaway....
...As well as the two UK deals, Allianz has this year spent €667m on a collection of property and casualty insurance businesses in Brazil, making it one of the top three insurers in South America’s largest...
...Instead the company wants to focus on property and casualty insurance, where it increased its presence via last year’s $15bn acquisition of XL Group....
...The money came from Samuel Bronfman, founder of the Seagram Company, who made a fortune out of alcohol just as America turned to prohibition....
...Net income at the company, which bought Bermuda’s XL for €12.4bn last year as part of a shift towards casualty and property insurance, fell 66 per cent to €2.1bn — against analysts’ expectations, according...
...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....
...Aspen rejected a bid from rival Endurance in 2014, which valued the company at $3.2bn. Apollo has a record in the property & casualty insurance industry....
...The proceeds of Thursday’s IPO all go to the parent Axa as it looks to fund its $15bn buyout of property and casualty insurer XL Group. Axa has other priorities than its US businesses....
...Axa, France’s largest insurance group, is in talks to buy XL Group, a Bermuda-based property and casualty insurance company that has a market value in excess of $11bn....
...Mr Buberl said that the XL deal would accelerate the company’s transformation, giving it a much bigger position in the world of commercial property and casualty insurance and cutting its reliance on old-fashioned...
...Proceeds will be used to help fund the $15.3bn purchase of Bermuda-based insurer XL Group, which will expand Axa’s position in US property and casualty insurance and specialist parts of commercial insurance...
...The insurer’s life division has performed far better than its property and casualty business, where a series of reserving charges and muted profitability have undermined investor confidence....
...You won’t be surprised to discover that Vittorio Colao reacted to the DT boss....
...Bank of America Merrill Lynch advised Atlas Merchant. The disposal leaves The Hartford, whose history stretches back to 1810, focused on property casualty insurance and employee benefits....
...It will complete our exit from the run-off life and annuity businesses and strengthen our focus on growing our market-leading property and casualty, group benefits and mutual funds businesses....
...He believes that the deal will allow Axa to shift from a reliance on life insurance and grab a stronger position in commercial property & casualty insurance....
...Should the hotel group, in which Kwek’s City Developments Limited owns a 65 per cent stake, be valued as a hotel group or a property company with intriguing prospects....
...The Dow Jones Industrial Average ended the day flat at 21,808, thanks in part to a 2.5 per cent decline for property and casualty insurer Travelers — one of several insurers that took a leg lower as investors...
...Chubb’s reinsurance business has shrunk to account for only about 3 per cent of the group’s premium income, although Mr Greenberg said there was also pricing pressure in the wider property and casualty insurance...
...The US business includes employee benefits, retirement and savings, and property and casualty operations....
...Will it try to regain its status as the world’s number one property and casualty insurance company, or will it become more specialist, focusing only on those areas where it can make money?...
...Mr Greenberg created the Chubb of today when in 2015 he struck the biggest deal in property and casualty insurance history. He was CEO of Ace, the Zurich-based insurer he joined in 2001....
...The insurer, which is more than 200 years old, has overhauled its operations in recent years to focus on property-casualty cover, as well as group benefits and mutual funds....
...Both companies provide property and casualty cover in the state, writes Alistair Gray in New York....
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