Hints and tips:
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...Keese predicted that the market’s “reinsurance to close” mechanism at Lloyd’s — where underwriting books are effectively closed after three years and reinsured — would allow other areas of property & casualty...
...For contracts renewing in July, Swiss Re implemented a 12 per cent rise in premiums across its property and casualty business, which includes natural catastrophe cover and other types of insurance....
...But losses after reinsurance will be a fraction of that amount....
...In property, Barratt Developments has half-year results, while Landsec has a capital markets day....
...A Hong Kong-based billionaire known for mixing with British royals has become one of the most prominent corporate casualties since coronavirus swept the city with creditors forcing the sale of his headquarters...
...In the June-July contract renewal season, the reinsurers have received double-digit price increases for covering a broad range of property and casualty risks....
...His new private equity-backed venture, called Convex, is hoping to take advantage of an upswing in prices for property and casualty insurance and reinsurance, following years of falling rates....
...He advised policyholders not to assume a favourable outcome, though — noting that most business interruption policies only cover property damage....
...On Friday, S&P said that it expected the credit ratings of US property and casualty insurers to be “resilient” after the hurricanes, but it was not so confident about the global reinsurance industry....
...Apollo has a record in the property & casualty insurance industry....
...In property and casualty insurance, Axa is one of those looking for added revenues....
...Michael McLintock has been named as the new chairman of Grosvenor Group, one of the world’s largest privately owned international property portfolios, starting in September....
...These include a mansion in Port Chester Long Island, near New York, that still has mortgage payments due to East West Bank....
...It expects a total of $3.6bn of claims from the catastrophes, mainly affecting its property & casualty and corporate solutions businesses....
...In a note on Monday, credit ratings agency Moody’s warned that primary property and casualty insurers, as well as reinsurers and alternative capital providers such as catastrophe bonds, are all likely to...
...It is also trying to integrate its shipping, port terminals, and logistics businesses closer....
...At the same time as it announced it would stop selling cars in India, it revealed it will sell its South African car plant in the Port Elizabeth industrial hub to Japan’s Isuzu....
...The combination of the two companies creates a “world leader in property and casualty insurance, reinsurance and investments”, said Fairfax, which last year bought UK insurer Brit for £1.2bn....
...Royal Liver built its headquarters when the port of Liverpool was at its peak and the city was home port to one-seventh of the world’s shipping fleet....
...“I was a skinny kid,” Zhang says of his four-year-old self, growing up in the northern port city of Dalian. “I had originally wanted to take kung fu but the class was full....
...The acquisition of the global provider of property and casualty insurance and reinsurance is the latest sign that a growing number of Japanese companies — backed by a strong yen — are seeking to expand their...
...The main casualty was Anglo Irish Bank, which had the closest ties to Irish property developers, many of whom went bankrupt when the crisis hit....
...Land prices may well rise near port areas (to allow lorry parking)....
...Arch is bulking up its presence at a time when ultra-low interest rates are squeezing the traditional businesses of property and casualty cover and reinsurance....
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