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...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....
...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...intellectual property protection....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...We talked a little bit about these sorts of stocks last week, and we mentioned our first pick, Everest Group, then. Everest is a property casualty reinsurer and primary insurer based in Bermuda....
...The bank originated as the Nippon Credit Bank, which was among the highest-profile casualties of the protracted fallout from the collapse of Japan’s 1980s property bubble....
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...The likely sale of Paramount marks it out as the first big casualty of the streaming wars. It may not be the last. When companies followed Netflix into streaming, market entry was straightforward....
...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...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Property and casualty insurers may comfort themselves that their exposure to climate risk is limited by annual contracts — an industry standard that enables them to reprice, limit or completely withdraw...
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...It also sold intellectual property within some Asia-Pacific countries for $50mn. The cost of living crisis has hurt Superdry recently. Other problems were avoidable....
...An early casualty of Covid — he and his wife, the critic and curator Lea Vergine, died a day apart in 2020 — he donated his archive to the city of Milan, on condition that it remained closed for 40 years...
...“Ajit’s achievements since joining Berkshire have been supported by a large cast of hugely-talented insurance executives in our various P/C [property-casualty] operations,” he wrote....
...US property and casualty insurers could face $40-180B in losses related to PFAS litigation....
...Flow, Neumann’s new property company confirmed that “a coalition of half a dozen financing partners . . . submitted a potential bid” two weeks ago....
...His refusal to sell has been reminiscent of a practice that Weill imparted on all of his top executives while building financial services group Travelers back in the day, making them swear a “blood oath”...
...And Berkshire made a big bet in underwriting property and casualty policies in Florida, betting on a tame hurricane season. That wager has largely paid off....
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
...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...
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