Hints and tips:
...Allstate’s 2Q underwriting results (as measured by its “combined ratio”) highlights what can happen when weather and economic conditions turn against property and casualty insurers....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...The US property and casualty (P&C) industry recorded a $26.5bn net underwriting loss in 2022, says rating agency AM Best....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...Companies that directly benefit from low rates have done well. This includes the homebuilders (up 40 per cent or so) and commercial real estate plays such as Boston Properties and Simon Property Group....
...Zurich, one of Europe’s biggest insurance groups, released full-year results on Thursday, reporting a flat combined ratio — claims and expenses as a proportion of premiums — for its property and casualty...
...Early estimates have pegged potential insured losses from Hurricane Ida at between $15bn and $25bn. All this should be bad news for property and casualty insurers....
...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....
...The qualifier that he “has no plans to go anywhere over the next year” falls short of a life-long commitment to the sacred calling of property and casualty insurance....
...Property and casualty cover is seen as a far more natural home....
...Exane likes Sampo and Lancashire as the most defensive of the property and casualty insurers....
...Shares of Travelers, one of the largest US property and casualty insurance companies, weighed on the broader Dow Jones Industrial Average with a drop of 3 per cent at the start of trading on Monday, after...
...Both companies provide property and casualty cover in the state, writes Alistair Gray in New York....
...However, you could say there are climate refugees, in the form of property and casualty reinsurers and their competitors from the capital markets fighting each other for shrinking premium revenues and that...
...US property catastrophe insurance prices are up 7 per cent this year according to insurance advisory group Guy Carpenter....
...Since markets reopened, shares in top US property and casualty insurers have lost only 0.2 per cent more than the benchmark S&P 500 index....
...Investors in the biggest US property and casualty insurers were initially relatively relaxed about the impact of the disaster on the industry....
...Ben McKay, senior vice-president of federal government relations for the Property Casualty Insurers Association of America, said: “Property casualty insurers are not highly leveraged or interconnected and...
...Over the last year, we understand that a number of AIG’s 100,000+ employees have left A.I.G. to join the company’s direct competitors in the global property and casualty and life insurance businesses....
..., as well as property and casualty insurers and pension funds....
...In the view of several present and former AIG executives, Mr Sullivan was a brilliant insurance man but the group had become much more than an insurance company and he lacked a deep understanding of the...
...instilled in the business and it made customers expect premiums (particularly in the most important areas of reinsurance, casualty and property) to come back down....
...Allstate and State Farm, two big property and casualty insurers, now want other states and the federal government to establish reinsurance schemes as well....
...However, the American Insurance Association, a trade association for property and casualty insurers, said it saw no reason for government intervention when capacity was available from private insurers....
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