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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Although prestigious and highly valued, the prime London estate yields less income than riskier ventures and assets....
...More than a dozen German insurance companies filed a petition with Vienna’s district court last week, a copy of which was seen by the FT, demanding an end to Signa Prime’s self-administration....
...Signal Iduna declined to comment on the size of its exposure but said it did not expect “material loan losses” because its loans were “in large part” backed by collateral in the form of property in prime...
...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...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...
...But if the London property market has been booming for prime agents in recent years, it now faces new challenges....
...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...
...Including mortgage payments, mortgage insurance and property taxes, he pays $3,500 per month more today than what he spent on rent at the family’s last home....
...“I began to question my career as an insurance broker,” Hugo says, “and the prospect of spending my entire career in London was daunting.”...
...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...
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...Property and casualty insurers may comfort themselves that their exposure to climate risk is limited by annual contracts — an industry standard that enables them to reprice, limit or completely withdraw...
...Crans-Montana’s property market has lower prices than other prime Swiss resorts, according to estate agents Knight Frank. At about €15,000 per sq m, it is half of the price of St Moritz and Verbier....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...This primes the body to recognise the virus if infected and make an immune response....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Overall, the group posted a €5.1bn operating profit for the period, up 17 per cent on the same period last year, with profitability improving at its property and casualty division despite losses from European...
...The suburban New York-based institution last March acquired most of Signature’s deposits and just over a third of its assets including nearly $13bn in loans, in a deal arranged by the Federal Deposit Insurance...
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
...NYCB’s recent losses on property loans have rekindled worries about potential defaults in the real estate market....
...Previously, these focused on espionage and/or intellectual property theft but now “prepositioning” strategies with so-called “living off the land” techniques are proliferating....
...Our first pick, the property casualty reinsurer and primary insurer Everest Group, ticked all our boxes well: a cheap stock with a history of delivering growth, and with industry tailwinds to boot....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
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