Hints and tips:
...Hartford Financial Services, which writes far fewer home insurance policies, is down just 5 per cent. Some states limit insurers’ ability to raise premiums....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...The auction had attracted names such as Will Lewis, who is now off to run the Washington Post, Rupert Murdoch and DMGT’s Lord Rothermere....
...In March, Root appointed a chief financial officer, Rob Bateman, whose CV includes stints at well-known insurance firms such as The Hartford. There are signs of improvement....
...It wouldn’t accept insurance or take money from pharmaceutical companies. And it would have its own medical advisory council as an alternative to the US Centers for Disease Control and Prevention....
...As always, reach out to Imani (imani.moise@ft.com) or me (sid.v@ft.com) with thoughts for other companies to cover, trends to follow or general tips....
...Elsewhere. insurtech has been the hardest hit subsector of fintech, with Lemonade, Hippo and Root among the biggest casualties of the rout in tech stocks, reports our Insurance correspondent Ian Smith....
...The government push extends to reforming so-called Solvency II rules, adopted while Britain was in the EU, to allow insurance companies to invest billions of pounds more in infrastructure....
...No premiums for insurtech Once high-flying insurance start-ups like Lemonade, Hippo and Root have emerged as the biggest casualties of the broader sell off in tech stocks, the FT’s Ian Smith writes....
...(FT) News round-up Greenberg’s Chubb bids to buy $24bn insurance rival Hartford (FT) National Grid to buy Western Power in £14.2bn deal (FT + Lex) Silver Lake to invest in legal-and-compliance software...
...“Coronavirus is going to be pretty large for the property and casualty insurance industry,” said Philip Kett, an analyst at Jefferies....
...Data from New Street Group, an executive search company, shows that the number of director changes at UK public companies has jumped during the pandemic....
...Boohoo raised almost £200m last month so it could buy up retail casualties....
...Its iptiQ unit helps other companies to develop insurance products....
...As a result, one of the surprising corporate casualties of the coronavirus crisis could be some of the companies that provide staff for hospitals....
...But that might not be an option when markets such as South Korea are contending with their own virus outbreaks, says Sebastian Lewis, an analyst at S&P Global Platts....
...Exane likes Sampo and Lancashire as the most defensive of the property and casualty insurers....
...Edward Luce writes that Mike Pompeo was the biggest casualty of Mr Sondland’s testimony, while Simon Kuper asks: could foreign intervention save US democracy?...
...Conversely a rapid recovery could see earnings recover faster than we expect.. 2:00pm GMT - Clyde Lewis of Peel Hunt has some v. interesting scenario work on the UK housebuilders: So for the base case...
...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....
...“This is not about replacing judges,” says Daniel Lewis, co-founder of Ravel Law, a San Francisco lawtech company that built the database of judicial behaviour....
...Axa SA shareholders must wonder, however, if the company could have waited for a more opportune moment for the IPO instead of selling into a deeply sceptical market....
...The disposal leaves The Hartford, whose history stretches back to 1810, focused on property casualty insurance and employee benefits....
...Lewis Hagedorn has joined Pimco’s commodities and real return team. He previously worked for TrailStone, the commodities trading group....
...Proceeds will be used to help fund the $15.3bn purchase of Bermuda-based insurer XL Group, which will expand Axa’s position in US property and casualty insurance and specialist parts of commercial insurance...
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