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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...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...
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...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...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...The suburban New York-based institution last March acquired most of Signature’s deposits and just over a third of its assets including nearly $13bn in loans, in a deal arranged by the Federal Deposit Insurance...
...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...
...NYCB’s recent losses on property loans have rekindled worries about potential defaults in the real estate market....
...Insurance companies are fleeing Florida as costs to insure property have increased dramatically....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...These costs would presumably be reflected in property and casualty insurance rates, along with many other pressures that are affecting the world right now....
...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....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...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....
...This will buy properties in megacities around the world to house new Casa Cipriani clubs, which will be managed by the Venetian family company. Members’ clubs find rapid growth tricky to pull off....
...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....
...board seats at oil refiner Phillips 66 (FT) Castore scores £950mn valuation after Raine-led funding round (FT) Farfetch shares plunge despite talk of founder taking it private (FT) René Benko’s Signa property...
...Allstate’s 2Q underwriting results (as measured by its “combined ratio”) highlights what can happen when weather and economic conditions turn against property and casualty insurers....
...Across the board, US property & casualty insurers had a $27bn net underwriting loss last year, their worst performance since 2011....
...This was offset by strong trading in property and casualty insurance, which helped the company generate €4.1bn in underlying earnings....
...For Montgomery in Hungerford, gold is a must-have insurance policy for investors to protect themselves against an end to the equity and crypto mania....
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