diary:2024-06:2024-06-10
2024-06-10
Notes from https://www.barrons.com/amp/articles/chubb-ceo-insurance-climate-china-warren-buffett-b4f435de
- Evan Greenberg
- Chubb CEO
- son of former AIG CEO - Maurice “Hank” Greenberg
- Chubb
- Berkshire owns 6% of it
- total return last year: Chubb = 40% vs. sp500 = 25%
- market cap: $110 bn
- investment portfolio: $140 billion
- No. 1 provider of commercial lines in the U.S.
- known for its high-end Masterpiece homeowners insurance
- targeted to wealthy buyers
- Evan Greenberg's interview
- we are willing to shrink
- we’re not going back to a zero cost or negative cost of money
- litigation costs are 2.1% of U.S. GDP
- loss costs
- We understand wind and flood risk
- An insurer can allocate a certain amount of its own capital, and rent other capital in the form of reinsurance. I’m looking for a 15% return on the capital that we allocate.
- investment portfolio
- $140 billion
- mostly fixed-income assets
- short duration
- half of our income is coming from underwriting and half from investment returns
- Prosperity and peace is our No. 1 priority
- I have been doing business in China for over 30 years
Reading journal
- https://www.bizcommunity.com/article/saudi-arabias-petro-dollar-exit-a-global-finance-paradigm-shift-670911a - Saudi Arabia's petro-dollar exit: A global finance paradigm shift
diary/2024-06/2024-06-10.txt · Last modified: 2024/06/11 02:51 by raju