Hints and tips:
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...The agenda of a trade-friendly Biden is likely to encompass more trade deals, and more China hawkishness....
...Mr Shields, the KBW analyst, says that historically a rise in the share of Democratic appointees to judges on the US appeals courts leads to an increase in the reserves of held by property and casualty insurers...
...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...
...In one case, Travelers Indemnity, an insurance company, asked a federal court in 2014 to rule that a general liability policy it sold to PF Chang did not cover a breach of customer data at the US Chinese...
...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....
...Chubb, as it will be known, will become the fourth largest public property and casualty insurer globally as measured by operating income behind AIG, Allianz and Axa....
...These include property and casualty insurance, professional indemnity and medical stop-loss....
...Hartford Financial, a smaller rival, jumped more than 6 per cent to a fresh seven-year high of $44.19 and Travelers Companies rose 2.73 per cent to $99.30....
...In property casualty insurance, periods of rising and falling premium rates, and therefore ups and downs in earnings and stock prices, come and go. In recent years, rates have been increasing....
...The primary insurers are more exposed, so the likes of State Farm, Allstate and Travelers, which have big market shares in the affected areas, will be the ones to watch....
...Since markets reopened, shares in top US property and casualty insurers have lost only 0.2 per cent more than the benchmark S&P 500 index....
...But even before its disastrous turn with derivatives, AIG was known for aggressive pricing on premiums in its property and casualty business, focusing on top-line growth rather than profitability....
...Chartis, AIG’s property and casualty business, was forced to take a surprise $4.2bn writedown in late 2010 to bolster its reserves for asbestos and other claims....
...Over the last year, we understand that a number of AIG’s 100,000+ employees have left A.I.G. to join the company’s direct competitors in the global property and casualty and life insurance businesses....
...Citigroup was formed in 1998 from the merger of Travelers Group and Citicorp. In 2002, Citigroup gave up control of Travelers Property Casualty through a share listing and subsequent spin-off....
...By December 2001, Mr Weill even turned his back on a big part of his legacy, moving to spin off Citigroup’s Travelers property and casualty insurance arm – which had given Mr Weill his corporate name and...
...Liberty Mutual, the auto and home insurer, on Wednesday agreed to buy Safeco for $6.2bn in a deal that creates the fifth largest-US property and casualty insurer and could herald further consolidation in...
...In a note to clients, Bank of America analyst Alain Karaoglan said the deal “confirms our thesis that many areas of the [property and casualty] sector remain undervalued and attractive, as fundamentals and...
...Conversely, even guaranteed access of a property owner to the public highway does not, and should not, allow all highway travelers even limited access to adjacent private property....
...But it will not be big enough to reverse the cyclical downturn in overall property and casualty pricing, analysts said....
...Chubb, the property and casualty insurer, rose 1.1 per cent to $76.63, while shares in the St Paul Travelers Companies, another property and casualty group, rose 1.4 per cent to $37.33....
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