User Tools

Site Tools


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


diary/2024-06/2024-06-10.txt · Last modified: 2024/06/11 02:51 by raju