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...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...This was offset by strong trading in property and casualty insurance, which helped the company generate €4.1bn in underlying earnings....
...a slimmed down, specialist property and casualty insurer....
...The company is the only big US insurer to combine life with property and casualty units, impeding comparisons with peers....
...Let us know what fintech predictions you have for the rest of the year at imani.moise@ft.com and sid.v@ft.com....
...All this should be bad news for property and casualty insurers. After all, they make money by collecting more premiums than they pay out in claims....
...AIG is the only US-listed insurer combining life and property and casualty units, making it difficult to compare with peers and depriving it of a natural investor base....
...The group plans to separate its life insurance unit from its broader property and casualty business, a move that had been long demanded and long resisted....
...Zurich Insurance is in talks to buy the US property and casualty insurance unit of New York-based MetLife, according to a statement from the Swiss company....
...According to real estate services and investment company CBRE, prime rents for apartments in Amsterdam fell by 3.3 per cent in the year leading up to the fourth quarter of 2020....
...He will become executive chairman, while Peter Zaffino, the 53-year-old head of AIG’s property and casualty unit, will become CEO....
...property and casualty arm....
...Premiums written in AIG’s core property and casualty insurance business are expected be flat with 2019, at $45bn....
...Insurance premiums written at the company’s big property and casualty operations were down slightly from the year before....
...Net property and casualty premiums written — a measure of sales activity, less risks passed on to reinsurers — fell 6 per cent from the year before....
...Rob Francis, who runs healthcare underwriting at ProAssurance, a US property and casualty insurer, reels off a list of this year’s payouts, including $230m a Baltimore hospital was to ordered to pay in July...
...Property and casualty cover is seen as a far more natural home....
...FADE OUT Meanwhile, the hunt for asset management casualties from the sharpest markets selloff in living memory remains an oddly low-key exercise....
...Amodo Insurance companies such as AIG, Triglav, and P&V are using data analytics from insurance telematics company Amodo to learn about customers’ driving habits and offer bespoke pricing on motor insurance...
...Exane likes Sampo and Lancashire as the most defensive of the property and casualty insurers....
...This trend in property and casualty insurance echoes one under way in the life insurance world for a decade....
...Axa said the Axa Tianping deal made it the first foreign insurer to fully own a top-20 property and casualty insurance company in China....
...Aspen rejected a bid from rival Endurance in 2014, which valued the company at $3.2bn. Apollo has a record in the property & casualty insurance industry....
...The insurer’s life division has performed far better than its property and casualty business, where a series of reserving charges and muted profitability have undermined investor confidence....
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