Hints and tips:
...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....
...Let us know what fintech predictions you have for the rest of the year at imani.moise@ft.com and sid.v@ft.com....
...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....
...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....
...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...
...The Dow Jones Industrial Average ended the day flat at 21,808, thanks in part to a 2.5 per cent decline for property and casualty insurer Travelers — one of several insurers that took a leg lower as investors...
...In one case, Travelers Indemnity, an insurance company, asked a federal court in 2014 to rule that a general liability policy it sold to PF Chang did not cover a breach of customer data at the US Chinese...
...Mr Greenberg created the Chubb of today when in 2015 he struck the biggest deal in property and casualty insurance history. He was CEO of Ace, the Zurich-based insurer he joined in 2001....
...Travelers, one of the biggest property and casualty insurers in the US, in March paid £400m for Simply Business, a UK-based small business insurer that had been sold for £120m just a year earlier....
...Both companies provide property and casualty cover in the state, writes Alistair Gray in New York....
...Chubb will give Ace a bigger footprint in the US, where it is a leading middle-market underwriter for commercial property and casualty insurance....
...Hartford Financial, a smaller rival, jumped more than 6 per cent to a fresh seven-year high of $44.19 and Travelers Companies rose 2.73 per cent to $99.30....
...Over the past two years shares of large property casualty insurers, up by 40 to 60 per cent, beat the S&P 500....
...Hard times in property casualty insurance are a good thing....
...Last month’s purchase by Travelers of Canadian insurer Dominion at 1.5 times tangible net asset value also demonstrated the worth of having a foothold in Canada’s property and casualty insurance sector,...
...Sandy-related losses will dent earnings this year – Morgan Stanley has cut fourth-quarter earnings per share estimates for the property and casualty sector by 26 per cent – but are not likely to damage materially...
...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....
...But even before its disastrous turn with derivatives, AIG was known for aggressive pricing on premiums in its property and casualty business, focusing on top-line growth rather than profitability....
...Spinning off the Travelers property and casualty business was not the move of a sentimentalist....
...she says, as a V-shaped crack in the island’s cliffs reveals the settlement of Jamestown. “And it’s British!”...
...The complaint further alleges that Gen Re separately entered into a series of sham reinsurance contracts with Prudential’s property and casualty division from 1997 to 2002....
International Edition