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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....
...Berkshire would acquire Geico, a motor insurer, in 1996, expanding its operations that began in 1967 with the purchase of National Indemnity, an Omaha-based property and casualty insurer....
...The company disclosed that its auto insurer Geico had passed along higher rates to customers and had suffered fewer claims, lifting its results....
...Apple’s mammoth buyback programme could be one casualty. In the last fiscal year, Apple spent twice as much buying back its own shares as it did on R&D....
...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....
...Todd Combs, one of Buffett’s two investment deputies and who became chief executive of Geico in 2019, is also in the running....
...And finally I’m in Los Angeles this week for the Milken Institute Global Conference — hit me up if you’re here....
...The biggest casualty of the shift in approach has been the strong focus on building expertise in greener forms of energy, espoused by previous chief executives of Shell and BP....
...Geico and National Indemnity or the BNSF railroad....
...But don’t fear: while the restructurings aren’t playing out in court, they’re still incredibly lucrative....
...Aviva is re-entering Lloyd’s of London for the first time in more than two decades to boost its exposure to the thriving commercial insurance market....
...Buffett’s sprawling conglomerate, which owns the BNSF railroad and Geico insurer, first invested in the iPhone maker in 2016 at the direction of one of his two investment deputies: Todd Combs and Ted Weschler...
...Its utilities provide power to 13mn customers and in Geico it owns one of the largest insurers in the country....
...Ping An has cut its stake in HSBC days after it voted against the re-election of the bank’s outgoing chief executive Noel Quinn....
...We’re unlevered as a firm. And we felt that we’d be best served if we did the same thing here in insurance. We probably could have grown a little bit faster had we bought an insurance company....
...But it also shows the climax is approaching in a longer-running industry drama. The likely sale of Paramount marks it out as the first big casualty of the streaming wars. It may not be the last....
...“Some companies probably thought that shock was going to be permanent,” said one economist. “Now they’re getting a painful bounceback from that.”...
...There were no immediate reports of casualties, but at least two buildings in Hualien were severely damaged, and people were trapped in one of them, according to witnesses....
...The use of some of the most destructive US-supplied bombs in Israel’s arsenal has come under intense international scrutiny since their use in heavily populated areas can lead to unforeseen civilian casualties...
...The Knoxville-based company is the largest business of its kind in America with more than 750 locations in the US and Canada and 30,000 employees....
...“We’re going to be watching this one very, very closely.” President Joe Biden has dispatched CIA director Bill Burns to the Middle East, to participate in the hostage negotiations in recent days....
...Any further mass casualties, in addition to the 34,000 or so Gazans who have died in the past six months, would bring the focus back to the now paused Israel Defense Forces’ ground operations....
...US property and casualty insurers could face $40-180B in losses related to PFAS litigation....
...Biden has been under pressure from some parts of the Democratic Party to condition or withhold aid to Israel as outrage has grown at the high number of civilian casualties in Gaza caused by the Israeli retaliation...
...It doesn’t completely go away when Buffett is gone . . . but you’re starting again”....
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