Hints and tips:
...Today, it is the traditional property and casualty insurance business, which accounts for almost two-thirds of revenues, that is the group’s big anxiety....
...Chubb will give Ace a bigger footprint in the US, where it is a leading middle-market underwriter for commercial property and casualty insurance....
...The merger will create the world’s fifth-largest property and casualty reinsurer, with about two-thirds of the combined company’s $10.7bn annual premium income coming from this line of business....
...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....
...of Chinese state enterprises such as State Grid and China Life....
...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....
...“He could see around corners,” says Edward Matthews, one of Mr Greenberg’s most senior lieutenants at AIG and then at C.V. Starr, his investment vehicle....
...It is latest casualty in the growing shake-up of global aviation as carriers struggle to cope with record oil prices and weakening economic growth....
...But it will not be big enough to reverse the cyclical downturn in overall property and casualty pricing, analysts said....
...The massive losses sustained by the insurance industry in Andrew's aftermath threatened the solvency of some casualty underwriters and led to Florida's establishment of a state-sponsored catastrophe fund...
International Edition