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...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...Established in 1879, the company employs more than 43,000 people selling general and life insurance products and boasts a near-$50bn equity market value....
...Should companies be punished for handing money back to shareholders? The Department of Justice seems to think so....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...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...
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...An insurance company “needs to have the longer-term alignment”, Borean said, adding that each situation needs to be viewed on a “case-by-case basis”....
...Hartford Financial Services, which writes far fewer home insurance policies, is down just 5 per cent. Some states limit insurers’ ability to raise premiums....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Its platform streamlines access to private programmes and government benefits such as Medicaid, a US government health insurance programme for people on low incomes....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...Both companies have previously had deals blocked....
...US health insurer Cigna has abandoned plans to merge with Humana, a blockbuster transaction that would have created a $140bn insurance giant, according to people familiar with the matter....
...,” which is Florida’s state-run insurance company....
...The country’s largest banks expensed $16bn to cover the government-imposed “special assessment”, which replenished a deposit insurance fund that was heavily depleted by the failures of Silicon Valley Bank...
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...The company spent billions of dollars acquiring truck-stop operator Pilot Flying J and insurance conglomerate Alleghany in recent years, adding them to a portfolio that includes ice cream purveyor Dairy...
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
Case studies in best practice among general counsel and company legal teams in North America
...These costs would presumably be reflected in property and casualty insurance rates, along with many other pressures that are affecting the world right now....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...Companies once valued at more than $1bn including Hopin and Convoy were among the casualties. “In some ways, dry powder is a mirage....
...“But Dai-ichi Life is clearly on the conservative side and people will look at it and say that’s Japan Inc. It’s great news for M&A in Japan.”...
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