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...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...Across the board, US property & casualty insurers had a $27bn net underwriting loss last year, their worst performance since 2011....
...On Wednesday, insurance brokerage Aon struck a deal to acquire NFP, a private equity-backed midsized property and casualty broker, for $13.4bn....
...The property and casualty insurer called If, part of Nordic group Sampo, began screening its corporate customers for ESG criteria in 2021....
...No premiums for insurtech Once high-flying insurance start-ups like Lemonade, Hippo and Root have emerged as the biggest casualties of the broader sell off in tech stocks, the FT’s Ian Smith writes....
...The US government has sued to block Aon’s takeover of Willis Towers Watson, threatening a $30bn deal intended to create the world’s biggest insurance broker....
...MMC in May took legal action against rival NFP Property & Casualty Services in the US over the departure of 13 former JLT staff....
...Mr Plants had wondered why an obscure insurance underwriter, which focuses on the property and casualty market, was spending so much money sponsoring professional yacht and auto races....
...“The UK [motor] market is fragmented and ferociously competitive, and so for some of the smaller insurance companies this is a challenge.”...
...As in previous years, more money went into property and casualty insurance start-ups than life and health insurance companies....
...According to data from CB Insights and Willis Towers Watson, between 2012 and the first quarter of 2019, there were 627 deals involving investment in property and casualty insurtech companies....
...A prolonged slump in the property and casualty market has forced insurance brokers to move away from broking and towards ancillary areas such as pension advice....
...Exane likes Sampo and Lancashire as the most defensive of the property and casualty insurers....
...Legal & General, the UK insurance company, registered a social housing provider late last year as part of a broader push into housing, investing from its own balance sheet....
...will enable further gains in property prices....
...This trend in property and casualty insurance echoes one under way in the life insurance world for a decade....
...Aspen rejected a bid from rival Endurance in 2014, which valued the company at $3.2bn. Apollo has a record in the property & casualty insurance industry....
...Burglaries — another offence for which police records are likely to be reliable because of insurance companies’ demands — were up 10 per cent in London, against a 6 per cent average for England and Wales...
...Consultants at BCG say that the property and casualty insurance industry as a whole could generate an extra $200bn of profits by using the technology....
...Insurance stocks had been trending downwards for weeks as the start of the Atlantic hurricane season weighed on investors’ minds, and rating agency Moody’s warned that property and casualty insurers, as...
...Travelers, one of the biggest property and casualty insurers in the US, in March paid £400m for Simply Business, a UK-based small business insurer that had been sold for £120m just a year earlier....
...Will it try to regain its status as the world’s number one property and casualty insurance company, or will it become more specialist, focusing only on those areas where it can make money?...
...He added that while the market had anticipated restructuring costs, there were concerns about the growth prospects for Willis’s property and casualty insurance brokerage in North America....
...For example, fewer than half of the property and casualty insurance executives who took part in the survey reported that big data and the analysis of it help them now with pricing, underwriting and risk...
...The deal, endorsed by the takeover target, will create the US’s second-largest listed property and casualty insurer by market capitalisation, and pushes the equity value of takeovers in the sector sealed...
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