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...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
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...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...Everest is a property casualty reinsurer and primary insurer based in Bermuda. It is very cheap on a forward price/earnings basis (6x) though a bit less so on price to book (1.4x)....
...The bank originated as the Nippon Credit Bank, which was among the highest-profile casualties of the protracted fallout from the collapse of Japan’s 1980s property bubble....
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...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 move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Property and casualty insurers may comfort themselves that their exposure to climate risk is limited by annual contracts — an industry standard that enables them to reprice, limit or completely withdraw...
...It also sold intellectual property within some Asia-Pacific countries for $50mn. The cost of living crisis has hurt Superdry recently. Other problems were avoidable....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...In 1958, he met Bruno Danese, who had just established his eponymous company with his wife Jacqueline Vodoz, and they hit it off....
...US property and casualty insurers could face $40-180B in losses related to PFAS litigation....
...Flow, Neumann’s new property company confirmed that “a coalition of half a dozen financing partners . . . submitted a potential bid” two weeks ago....
...And Berkshire made a big bet in underwriting property and casualty policies in Florida, betting on a tame hurricane season. That wager has largely paid off....
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
...Overall, the group posted a €5.1bn operating profit for the period, up 17 per cent on the same period last year, with profitability improving at its property and casualty division despite losses from European...
...Wilko fell into administration in August, in one of the UK high street’s biggest casualties in recent years....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...US chipmaker Broadcom and cloud software company VMware have delayed the completion of their $69bn merger....
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...The US property and casualty (P&C) industry recorded a $26.5bn net underwriting loss in 2022, says rating agency AM Best....
...Property is also back in the spotlight. In Europe, falling house prices are hurting. One of the casualties is Swedish property company SBB, which borrowed heavily during a local boom....
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