Hints and tips:
...They are set to intensify with Washington’s Section 301 investigation into the alleged Chinese theft of US intellectual property and practice of forcing technology transfers from foreign investors....
...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....
...Instead it would be focused on administrating the life cover that it has already written, serving corporate clients, property-casualty insurance and operating overseas....
...Mr Icahn had argued that the insurer should divide into three companies, one offering property-casualty coverage, another selling life policies and a third backing mortgages....
...Chubb will give Ace a bigger footprint in the US, where it is a leading middle-market underwriter for commercial property and casualty insurance....
...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....
...Yet AIG has remained a major force in the insurance markets, particularly its global property and casualty business now known as Chartis....
...Bank of America is top of the list....
...The news came as AIG announced a surprise $4.1bn increase in reserves against future property and casualty losses that is likely to push its 2010 results, to be revealed on February 24, into the red....
...Conrad Voldstad is CEO of the International Swaps and Derivatives Association...
...Some parts of the economy – property prices in first-tier cities, for example – are a bit frothy, but the idea of a generalised bubble is folly....
...AIG is on its “way to regaining our stature as one of the world’s largest and most successful property-casualty insurance operations,” Robert Benmosche, the company’s chief executive said on Friday in a...
...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....
...casualty.”...
...That year’s storms inflicted about $80bn of claims on insurers and reinsurers and forced up the cost of protecting property....
...Hartford Financial, the Connecticut- based life and property-casualty insurer, said earlier this week it had raised $2.5bn in capital and would cut its dividend after warning of a big loss....
...America’s image has suffered under the Bush presidency, but most of the damage was done in the first term, especially after the war of choice against Iraq....
...The chances of the average homeowner not getting an insurance claim paid if AIG’s holding company had been allowed to go under were slim, since its local property and casualty operations are sturdy and well-run...
...The planned Hong Kong listing of Maoye International, a mainland department store chain, expected to raise $900m, was seen as a test of sentiment but was pulled yesterday in jittery markets....
...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....
International Edition