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...Geico and Berkshire Hathaway Specialty Insurance declined to comment. Gen Re did not respond to requests for comment....
...Pre-tax profits at Geico more than doubled from a year ago to $1.93bn....
...We had two choices. Take out a policy with a handful of luxury insurers that would only sell us far greater coverage than we wanted for much more than we could afford....
...Todd Combs, one of Buffett’s two investment deputies and who became chief executive of Geico in 2019, is also in the running....
...the tool of choice.”...
...“I don’t have a choice about this. If I don’t take the loan I can’t continue to work. I can’t continue to pay my mortgage,” said the 62-year-old nursing manager from Cambridgeshire....
...Buffett and Weschler still meet regularly in Omaha, but Combs began commuting to Berkshire’s insurance subsidiary Geico when he was appointed to run it in 2019....
...“There’s definitely more choice for clients [now],” said Howden. “If you look at the reinsurance side, there were really three [big] reinsurance brokers for donkey’s years....
...The gains were fuelled by strong results from Berkshire’s insurance unit, including at Geico, as well as higher interest rates....
...Don Mullen, the founder of Pretium, a private capital manager that Bhalla partnered with at AEL, said that insurers are increasingly the venue of choice for corporate lending....
...Long-dated insurance premiums are becoming the funding of choice. The shift is sufficiently seismic that once overlooked credit firms are now the subject of bidding wars....
...Its utilities provide power to 13mn customers and in Geico it owns one of the largest insurers in the country. Combs and Weschler were plucked from relative obscurity to help run this portfolio....
...The company’s Geico auto-insurer, which had struggled to cope with payouts on claims for much of the past two years, showed improvement....
...Striking the right balance between security and social spending will involve hard choices. This predicament will not last for ever....
...When Hunt cut national insurance rates last November, at an annual cost of £10bn, Labour backed him....
...They have more choices. Unhedged: Does that mean you have to adapt in terms of when you allocate capital — taking a countercyclical attitude?...
...“This is a wake-up call for the financial industry and the insurance industry,” executive director of the European Environment Agency Leena Ylä-Mononen told the Financial Times....
...The chancellor, Jeremy Hunt, has promised unspecified savings to fund cuts to national insurance....
...Geico reported a second consecutive quarter of underwriting profits, following more than a year of losses....
...These design choices are driven by concerns that a CBDC will prompt consumers to move money out of banks into the central bank....
...The Omaha native helped transform the company, once a struggling textile maker, into an industrials and insurance behemoth....
...“We have no choice,” said Axa’s then boss Henri de Castries in 2015, as the French insurer announced plans to shun investments in coal companies....
...“This is rather counter to the narrative we’ve had over a long period,” Johnson added, saying the chancellor’s choice to cut national insurance, a tax paid only by those of working age, was “deliberate”...
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
...The problem is you have no other choice; no one knows the future....
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