Hints and tips:
Related Special Reports
...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....
...carrying out a “thorough” review of all its business units, he said, which include a wholly owned housebuilder, Cala Homes, alongside Britain’s biggest asset manager and its traditional retail and workplace insurance...
...Todd Combs, one of Buffett’s two investment deputies and who became chief executive of Geico in 2019, is also in the running....
...First, general claim values have increased as property prices have soared in recent years. Higher building material costs and skill shortages have added to rebuild and repair charges....
...Days later, the group voted against Quinn’s re-election at the bank’s annual general meeting, according to people familiar with the situation....
...Sunak pointed to cuts to national insurance that have already been announced, falling inflation and policies to reform the welfare system....
...For lead underwriting, the general market view is that underwriters and actuaries need to be deeply involved....
...Premiums from its general insurance division, which includes car insurance, also grew....
...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 attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...The gains were fuelled by strong results from Berkshire’s insurance unit, including at Geico, as well as higher interest rates....
...Nicolas Jeanmart, head of personal and general insurance at Insurance Europe, which represents EU insurers, says: “The focus of insurers has so far been less on public health but rather on damages to properties...
...Aviva chief executive Amanda Blanc said the deal “opens up new opportunities to accelerate growth” in the group’s general insurance business....
...While rivals like Legal & General or privately held PIC chase after the multibillion deals, Just focuses on smaller, sub £100mn transactions, with nearly a third of the market....
...The attorney-general’s lawyers further claimed Knight Insurance sent “100 per cent of its retained insurance risk to affiliates in the Cayman Islands”, where “lax regulations” allowed the company to bolster...
...Employee ownership accounts for a third of Howden’s shares, alongside external minority shareholders including private-equity groups General Atlantic and Hg....
...The opinions in this column are intended for general information purposes only and should not be used as a substitute for professional advice....
...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....
...Jonathan Dixon, secretary-general at the International Association of Insurance Supervisors, told the Financial Times that while the sweep of private capital groups into the life insurance sector helped...
...Chancellor Jeremy Hunt has raised the possibility of further tax cuts before the next general election as he counts on recent reductions to national insurance and the prospect of lower interest rates to...
...National General implemented rate increases at 10% in 2022 and an additional 12.8% in 2023....
...The company’s Geico auto-insurer, which had struggled to cope with payouts on claims for much of the past two years, showed improvement....
...That was down from 49 12 months earlier, as it exited stakes in companies including General Motors, UPS and Procter & Gamble earlier in the year....
International Edition