The Utility of Money in their Life and Property Casualty Companies

In this chapter, they discuss the utility of money in their life companies versus their property casualty companies. They mention that they would rather have money in their property casualty companies because they have more flexibility with it. They also mention the advantage of having money in their holding company, which gives them ultimate flexibility. They talk about keeping more cash than necessary in their operating businesses and feeling comfortable as long as they have at least 20 billion dollars.