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The deal serves as a reminder that the conglomerate, with its ~$140bn cash pile, could be a major consolidator in P&C. -
As well as wheeling out the same old products, the sector manages new risks through exclusion and does a poor job of telling its story to insureds.
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CEO Sankaran and COO Gangu are looking to use the firm’s capital, platforms and licensing to create value beyond reinsurance.
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The commercial lines turnaround is a remarkable achievement, but to succeed in the next phase it must pivot from its command-and-control culture.
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Too many groups have been looking for a free lunch, and when it comes to capital in insurance – you get what you pay for.
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The market is about to pass a fourth round of broad-based commercial lines rate rises following a Q1 2019 inflection point.
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The next generation must stay private longer, employ a partnership approach to capital and take the complexities of insurance more seriously.
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The company seems to be retrenching to a core business strategy as its new management team looks to land the turnaround.
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It is hard to see how the auto insurer can simultaneously address all of its challenges.
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A weaker growth outlook, less favorable debt markets and high absolute multiples all suggest peak valuations have been reached.
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Rates have risen, but cost inflation, climate change, retro renewals and S&P changes mean cat reinsurers are worse placed than in 2021.
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The CEO-designate's comments at the Morgan Stanley conference on Friday were a marked – and welcome – change of tone.
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