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...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...These costs would presumably be reflected in property and casualty insurance rates, along with many other pressures that are affecting the world right now....
...The Big Read Earlier this week, Knight Insurance Group, one of a handful of companies owned by Los Angeles-based subprime auto loan billionaire Don Hankey, put up the $175mn bond for Donald Trump....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...The company’s Geico auto-insurer, which had struggled to cope with payouts on claims for much of the past two years, showed improvement....
...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....
...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....
...Having outperformed other financials last year, the S&P Property & Casualty Insurance index is down 7 per cent so far this year. That compares with the S&P 500’s 15 per cent gain....
...At the same time, the Japanese auto industry is being challenged by other Asian nations....
...A McKinsey global survey of autonomous vehicle executives, published this month, revealed an industry in a state of flux....
...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....
...Trump, who was headed to Michigan on Wednesday in an attempt to win the support of striking auto workers, took to social media to call the ruling a “political scam”....
...One reason auto insurance can make such a big impact on inflation is, to put it simply, there are way more car owners in the US than there are homeowners in disaster-stricken California, Louisiana and Florida...
...In 2018, several senior employees of Toptec, one of Samsung Display’s Korean subsidiaries, were charged with leaking intellectual property to the Chinese company....
...Shares of companies with large auto-insurance businesses — ones that trade without the protection of Warren Buffett’s imprimatur, at least — have started to reflect those issues....
...Another knock — rising delinquencies on card and auto loans — may be misleading too, argues Zandi....
...However, I’m kind of long the insurance industry, specifically kind of property casualty insurance industry. Now, everybody hates on this industry a little bit because, you know, the doomers, again....
...Gigacasting using aluminium is also one response to the way that massively heavy auto batteries are reshaping how cars are designed. “Battery tech is driving gigacasting tech....
...So they are an insurance company for insurance companies. They do have a primary property casualty insurance unit, but mostly they’re reinsurance....
...Is it right that a greater share of taxpayer cash goes towards funding healthcare and state pensions for boomers with assets such as property and private pensions that younger workers can only dream of possessing...
...It added that “having invested in the best state of the art equipment available”, Sotheby’s will “continue to analyse property in its own laboratories and is moving to an arrangement that is best suited...
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