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Property & Casualty Insurance

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Travelers expects property & casualty insurance market to remain "competitive"

Thursday, 19 Oct 2017 08:07am EDT

Oct 19 (Reuters) - Travelers Companies Inc :Travelers Companies-property & casualty insurance market conditions expected to remain "competitive" during rest of 2017 & into 2018 for new business‍​.Travelers Companies-in business insurance,expects underlying underwriting margins & combined ratio for rest of 2017 & 2018 to be broadly consistent.Travelers Companies - in personal insurance, expects underlying underwriting margins during rest of 2017 to be higher than in same period of 2016.Travelers Companies - in personal insurance, expects underlying combined ratio during remainder of 2017 to be lower than in same period of 2016.Travelers Companies - in personal insurance, expects underlying underwriting margins into 2018 will be higher versus same periods of 2017.Travelers Companies - in personal insurance, expects underlying combined ratio into 2018 will be slightly lower versus same periods of 2017.Travelers Companies Inc - overall, expects retention levels will remain "strong by historical standards" during remainder of 2017 and into 2018.

Hanover estimates Q3 catastrophe losses to be in range of $185 mln-$225 mln

Thursday, 5 Oct 2017 04:15pm EDT

Oct 5 (Reuters) - Hanover Insurance Group Inc :The hanover estimates the impact of third quarter catastrophes.Hanover insurance group inc - estimates q3 catastrophe losses to be in range of $185 to $225 million before taxes and net of reinsurance.Hanover insurance group inc - ‍updated loss estimates will be reflected in hanover's q3 financial results​.Hanover insurance group - losses from co's international specialty group, chaucer, estimated to be in range of $115 to $135 million before taxes, net of reinsurance.Hanover insurance-estimate includes anticipated losses from hurricanes harvey, irma, maria and two mexico earthquakes, as well as other catastrophe activity in quarter.Hanover insurance group inc - losses in company's domestic business are expected to be in range of $70 to $90 million before taxes and net of reinsurance.

PICC Property and Casualty ‍updates on derivative action involving a director​

Tuesday, 19 Sep 2017 08:08pm EDT

Sept 20 (Reuters) - Picc Property And Casualty Co Ltd <2328.HK>::Updates on derivative action in Cayman Islands involving an independent non-executive director​.Company considers that derivative action will not have any effect on business or operations of company​.Board of directors of Shanshui Cement is seeking legal advice on claims in derivative action​.Relief is sought in name of Shanshui Cement as against the defendants​.

AA confirms it had talks with rival Hastings on insurance merger

Tuesday, 12 Sep 2017 02:00am EDT

Sept 12 (Reuters) - Aa Plc :AA PLC - PRESS SPECULATION.‍NOTES YESTERDAY'S PRESS SPECULATION ON A POTENTIAL TRANSACTION WITH HASTINGS INVOLVING ITS INSURANCE BUSINESS​.‍REGULARLY REVIEWS ALL STRATEGIC OPTIONS, INCLUDING WHETHER A SPIN-OFF OF ANY OF ITS BUSINESS LINES WOULD UNLOCK FURTHER VALUE​.‍CONFIRM THAT WE DID HAVE PRELIMINARY DISCUSSIONS WITH HASTINGS IN EARLY SUMMER TO EXPLORE A POSSIBLE COMBINATION OF AA'S INSURANCE BUSINESS WITH HASTINGS​.

Employers Holdings Inc's unit Employers Group enters into a stock purchase agreement

Tuesday, 15 Aug 2017 04:49pm EDT

Aug 15 (Reuters) - Employers Holdings Inc ::Employers Holdings Inc - on August 11, 2017, Employers Group, incand unit of Employers Holdings Inc entered into a stock purchase agreement.Employers Holdings Inc says stock purchase agreement with partner reinsurance company of U.S., a New York corporation.Employers Holdings-stock agreement with respect to acquisition of all outstanding shares of capital stock of partnerre insurance company of New York.Employers Holdings says ‍purchase price is equal to sum of amount of statutory capital and surplus of prny at closing plus $5.8 million .Employers Holdings Inc - company expects to fund acquisition with cash on hand.Employers Holdings Inc - ‍company will not be acquiring any employees or ongoing business operations pursuant to deal​.

Radian Group reports Q2 GAAP loss per share $0.13

Tuesday, 1 Aug 2017 06:30am EDT

Aug 1 (Reuters) - Radian Group Inc :Radian announces second quarter 2017 financial results.Q2 adjusted operating earnings per share $0.48.Q2 GAAP loss per share $0.13.Q2 revenue $40 million versus $42.2 million.Q2 earnings per share view $0.41 -- Thomson Reuters I/B/E/S.Radian Group Inc qtrly book value per share grows 3% and tangible book value per share grows 12% year-over-year.Radian Group Inc - ‍based on strategic review of services business lines to date, company has determined to restructure this business​.Radian Group Inc - ‍currently expects to incur charges relating to changes necessary to reposition services business lines​.Radian Group Inc - ‍currently expects that charges would not exceed $25 million on a pretax basis on restructuring of services business ​.

Markel to acquire State National for about $919 million​

Wednesday, 26 Jul 2017 08:10am EDT

July 26 (Reuters) - State National Companies Inc :Markel to acquire State National.State National Companies Inc - ‍transaction has a total value of approximately $919 million​.State National Companies Inc - deal for ‍$21.00 per share in cash​.State National Companies Inc says upon completion of transaction, state national will operate as a separate business unit.State National Companies Inc - agreement, has been unanimously approved by both companies' board of directors.State national companies inc says transaction is not subject to any financing condition.State National Companies Inc says Markel plans to finance transaction using cash balances on hand.State National Companies - ‍management team, led by Terry Ledbetter, State National's current chairman, CEO will remain in place.

Markel to acquire State National for about $919 million​

Wednesday, 26 Jul 2017 08:10am EDT

July 26 (Reuters) - State National Companies Inc :Markel to acquire State National.State National Companies Inc - ‍transaction has a total value of approximately $919 million​.State National Companies Inc - deal for ‍$21.00 per share in cash​.State National Companies Inc says upon completion of transaction, state national will operate as a separate business unit.State National Companies Inc - agreement, has been unanimously approved by both companies' board of directors.State national companies inc says transaction is not subject to any financing condition.State National Companies Inc says Markel plans to finance transaction using cash balances on hand.State National Companies - ‍management team, led by Terry Ledbetter, State National's current chairman, CEO will remain in place.

Insurance Australia Group says general insurance licence consolidation approved

Thursday, 20 Jul 2017 02:13am EDT

July 20 (Reuters) - Insurance Australia Group Ltd ::General insurance licence consolidation approved.Will consolidate its nine Australian general insurance licences into two after receiving approval from Federal Court of Australia.There will be no impact on IAG's consolidated regulatory capital.There will be no impact on claims and policies will continue to operate and be renewed in same way.

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