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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Additional reporting by Ian Smith and Cynthia O’Murchu in London...
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...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...
...Overall, the group posted a €5.1bn operating profit for the period, up 17 per cent on the same period last year, with profitability improving at its property and casualty division despite losses from European...
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...This was offset by strong trading in property and casualty insurance, which helped the company generate €4.1bn in underlying earnings....
...Across the board, US property & casualty insurers had a $27bn net underwriting loss last year, their worst performance since 2011....
...The property and casualty insurer called If, part of Nordic group Sampo, began screening its corporate customers for ESG criteria in 2021....
...Presenting the company’s fourth-quarter results on Wednesday, Greenberg said property catastrophe insurance is “an opportunity” for Chubb as price rises remained ahead of the rise in payouts....
...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...
...Ken Stoller, assistant vice-president at the American Property Casualty Insurance Association, an industry body, highlighted the rejection of pandemic claims in many federal courts, in state high courts...
...It highlighted margins in its property & casualty business and profits in the life division as areas for growth....
...Zurich’s first-half performance was driven by its property and casualty division, which posted its best-ever combined ratio — a key measure of underwriting profitability that tracks claims and expenses as...
...In the property and casualty insurance division, a weaker combined ratio — claims and expenses as a proportion of premiums — was attributed to greater delinquencies in credit insurance....
...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....
...In the first half, the performance was driven by its property and casualty division, where Zurich posted its best combined ratio — a key measure of underwriting profitability that tracks claims and expenses...
...The group’s property and casualty division posted strong results owing to a lower bill from natural catastrophe claims and rising commercial insurance prices....
...Jess Smith We’ll talk about Beijing’s latest effort to fix the property crisis. I’m Jess Smith, in for Marc Filippino, and here’s the news you need to start your day....
...In recent months, the group has come under fire from both the right and the left for its huge stakes in every large US company and its approach to environmental, social and governance investing. 5....
...Zurich said it was on track to exceed its 2022 financial targets, helped by premiums in its property and casualty business rising 12 per cent on a like-for-like basis, adjusted for currency movements....
...Its property and casualty business fared better, with the combined ratio — claims and expenses as a proportion of premiums — improving by 1.1 percentage points to 98 per cent, which it attributed to better...
...A key area of Alleghany’s operations is property and casualty insurance and reinsurance, expanded under the leadership of chief executive Weston Hicks between 2004 and 2021....
...The company is the only big US insurer to combine life with property and casualty units, impeding comparisons with peers....
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