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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...
...Leaseholders at Canary Riverside won a rare and high-profile victory in late 2022 after a tribunal ruled they had been overcharged £1.6mn in purported insurance-related services and linked taxes....
...Allianz made €300mn in loans for Signa’s 2018 purchase of a high rise building in downtown Berlin, while Volkswohl-Bund, a medium-sized Dortmund-based insurer, racked up a €250mn exposure....
...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 insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...The lack of affordable property insurance has even driven some to move home....
...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...
...With health insurance claims generally on the rise in developed markets, climate-related claims could “have sneaked in already”, she points out....
...The obvious starting point is: will the business survive without you? Be realistic....
...It points to the high price of smartphones, the grip Apple has over app distribution and lack of access it provides to the iPhone operating system....
...Markets anticipate the central bank will cut interest rates from their 16-year high of 5.25 per cent by 40 basis points by the end of 2024, with the first cut expected in September....
...UK mortgage approvals hit their highest for 18 months in March, according to official figures that suggest the property market is continuing to recover despite recent rises in quoted rates....
...property....
...Asking prices rose to a near-record level in April, driven by larger properties, according to data that points to a continuing recovery in the UK housing market despite recent volatility in mortgage rates...
...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....
...Overall, property insurers paid out £4.9bn to households and businesses last year, with more than half of that to homeowners....
...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...
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...Lloyd’s of London has delivered its best underwriting performance since 2007 and signalled that commercial insurance prices are likely to stay high in the coming years....
...In other countries, mortgage insurance mitigates the risk premium for high LTV loans. Even after paying for insurance against default, buyers can still save money....
...“My instinct is that this is an inflection point for property in New York: US economic growth is very good; unemployment is low; the stock market is up,” he says....
...An industry-wide reinsurance scheme known as Flood Re provides coverage for residential properties, but this has not been extended to businesses despite repeated calls from the insurance sector since its...
...Everest is a property casualty reinsurer and primary insurer based in Bermuda. It is very cheap on a forward price/earnings basis (6x) though a bit less so on price to book (1.4x)....
...Costs remain high relative to its corporate peers. But it is digitising and simplifying claims handling....
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