Hints and tips:
...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....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...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....
...While life insurers want changes in the way Solvency II is applied in the UK, the other large chunk of the industry — property & casualty insurers — is keen to keep the status quo....
...So far though, most of the action has been in property and casualty insurance — cover for buildings, cars and business....
...Allianz has made no secret of its desire for acquisitions, and chief executive Oliver Bäte has made general insurance — also known as property and casualty insurance — a priority....
...Exane likes Sampo and Lancashire as the most defensive of the property and casualty insurers....
...Others were sceptical about whether the benefits of being what Mr Wilson called a “true customer composite” — an insurer selling both life insurance and property & casualty insurance — would ever come through...
...Apollo has a record in the property & casualty insurance industry....
...The proceeds of Thursday’s IPO all go to the parent Axa as it looks to fund its $15bn buyout of property and casualty insurer XL Group. Axa has other priorities than its US businesses....
...The disposal leaves The Hartford, whose history stretches back to 1810, focused on property casualty insurance and employee benefits....
...Proceeds will be used to help fund the $15.3bn purchase of Bermuda-based insurer XL Group, which will expand Axa’s position in US property and casualty insurance and specialist parts of commercial insurance...
...Ex-Barclays chief Bob Diamond’s private equity group has signed its biggest ever deal, buying a $100bn book of US life insurance business....
...Shares of Travelers, one of the largest US property and casualty insurance companies, weighed on the broader Dow Jones Industrial Average with a drop of 3 per cent at the start of trading on Monday, after...
...The marketing power of drug companies and laissez-faire attitude of doctors has fuelled one of the worst public-health epidemics of modern times, which ended up proving ruinous for De La Rosa and millions...
...The insurer, which is more than 200 years old, has overhauled its operations in recent years to focus on property-casualty cover, as well as group benefits and mutual funds....
...The results from the Hartford, which sells mutual funds as well as property and casualty insurance and group benefit policies, are the latest sign of a squeeze on the industry’s profits....
...Market conditions are tough with low interest rates making hitting insurance businesses, while prices are under pressure in parts of the property and casualty insurance market....
...His namesake at Legal & General, Nigel Wilson, also played down the impact of low rates, especially on the company’s bulk annuity business....
...Hartford Financial, a smaller rival, jumped more than 6 per cent to a fresh seven-year high of $44.19 and Travelers Companies rose 2.73 per cent to $99.30....
...Tony Kuczinksi, chief executive of Munich Re America, said that although climate change presented complex risks for the property and casualty insurance sector, it also posed a number of business opportunities...
...The fund, which will make extensive use of exchange traded derivatives and currency hedging, is “unashamedly” aimed at property and casualty insurers with a two- to three-year liability structure....
...Potential buyers include the Toronto-listed property and casualty insurer Intact Financial, which 18 months ago bought Axa’s Canadian insurance businesses for C$2.6bn....
...But Munich Re said losses from big incidents or natural catastrophes were lower than expected, improving profitability in property and casualty reinsurance....
...Hartford has been looking to sell Woodbury since it bowed to shareholder pressure in March to focus on its property and casualty business....
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