Hints and tips:
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Mr Shields, the KBW analyst, says that historically a rise in the share of Democratic appointees to judges on the US appeals courts leads to an increase in the reserves of held by property and casualty insurers...
...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...
...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...
...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....
...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....
...The Russian Foreign Ministry said JP Morgan Chase had blocked a transfer by Russia’s embassy in Astana, the capital of Kazakhstan, to Sogaz, an insurance company part-owned by Bank Rossiya, one of the targets...
...In property casualty insurance, periods of rising and falling premium rates, and therefore ups and downs in earnings and stock prices, come and go. In recent years, rates have been increasing....
...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....
...At $35, AIG’s shares still trade at about half the company’s book value while more profitable rivals in the insurance industry, such as Chubb, Travelers and ACE Limited, trade in line with or above book...
...According to Reuters and Bloomberg, People’s Insurance Company (Group) of China, one of the country’s largest insurers, plans to offer 6.9bn shares, or 16.7 per cent of the enlarged capital at HK$3.43-HK...
...It said it expected to its core units such as Chartis, the property & casualty insurer, and Sun America, the life assurer, to remain profitable....
...At the same time, it has participated in an industry-wide increase in pricing in its separate property and casualty business to make up for disaster-related losses last year....
...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...
...Operating profit in property and casualty insurance, which accounts for half of profits and generates capital steadily, rose by 9 per cent, thanks to better pricing and strong investment returns....
...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....
...Citigroup was formed in 1998 from the merger of Travelers Group and Citicorp. In 2002, Citigroup gave up control of Travelers Property Casualty through a share listing and subsequent spin-off....
...By December 2001, Mr Weill even turned his back on a big part of his legacy, moving to spin off Citigroup’s Travelers property and casualty insurance arm – which had given Mr Weill his corporate name and...
...It is the largest insurance industry deal since St. Paul merged with Travelers in a $16bn deal in 2003....
...In a note to clients, Bank of America analyst Alain Karaoglan said the deal “confirms our thesis that many areas of the [property and casualty] sector remain undervalued and attractive, as fundamentals and...
...But it will not be big enough to reverse the cyclical downturn in overall property and casualty pricing, analysts said....
...Chubb, the property and casualty insurer, rose 1.1 per cent to $76.63, while shares in the St Paul Travelers Companies, another property and casualty group, rose 1.4 per cent to $37.33....
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