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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...The chief executive of Aon, one of the world’s largest insurance brokers, has called for better modelling of climate risks, saying conditions in the property insurance market were “stressed” after a surge...
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...It has financed projects including 316 rental homes in Bath and a joint loan with insurance group Generali for 65 homes for sale in Canary Wharf....
...development, according to government officials and the property tribunal....
...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...German insurers including Munich Re and Allianz have amassed more than €3bn of exposure to the struggling property empire owned by real estate billionaire René Benko....
...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...Allstate’s 2Q underwriting results (as measured by its “combined ratio”) highlights what can happen when weather and economic conditions turn against property and casualty insurers....
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...Its property and casualty insurance division weakened, posting an overall underwriting loss reflecting worse conditions for areas such as credit insurance, but its major life and health insurance division...
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...Lloyd’s is the world’s oldest insurance marketplace, and its chief executive John Neal told me that the home insurance market, particularly in coastal America, “has reached a tipping point”....
...The lack of affordable property insurance has even driven some to move home....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Nicolas Jeanmart, head of personal and general insurance at Insurance Europe, which represents EU insurers, says: “The focus of insurers has so far been less on public health but rather on damages to properties...
...The ship’s lead liability insurer, Britannia P&I, said on Thursday it was “working closely with the vessel’s owner and manager and the relevant US authorities as part of the investigation into the casualty...
...Continental European commercial property insurance prices rose at the start of the year for the 22nd consecutive quarter, according to an index from broker Marsh....
...property....
...The US property and casualty (P&C) industry recorded a $26.5bn net underwriting loss in 2022, says rating agency AM Best....
...But if you own the property personally, and rent it to the company, then it is likely to qualify for only 50 per cent relief, whether or not you charge a market rent for its use....
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...Overall, property insurers paid out £4.9bn to households and businesses last year, with more than half of that to homeowners....
...Unlike rivals such as Apollo Global and KKR, both of which own large insurers, Blackstone manages assets it acquires on behalf of insurers such as Allstate and AIG....
...A recently announced partnership between Google Cloud and Lloyd’s insurer Hiscox trialled automated underwriting on a property sabotage and terrorism policy....
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