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...“There has not been a lot of new companies and additions to capital, which given the current levels of profitability . . . you would expect [to] happen....
...While a couple of hundred of these still hold unlimited liability, new Names typically have limited liability....
...The Bank of England plans to stress test insurers on their exposure to reinsurers through a flurry of corporate pension deals, according to people familiar with the matter, as concerns mount about the risk...
...This part of the insurance industry has been hit by four consecutive years of outsized losses from extreme weather....
...Lemonade, whose shares have fallen more than 70 per cent since its first day of trading in New York in 2020, provides a range of insurance including for homes, pets and cars to customers in the US and Europe...
...Ingosstrakh, which evolved out of the Soviet-era Chief Agency of Foreign Insurance, is one of Russia’s largest insurers. Insurance for shipping is a small part of its portfolio....
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...Both companies carried substantial leverage, and both IPOs consisted almost entirely of new capital to reduce the debt load....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...A string of big home insurers have halted new business in California, for example, in response to a surge in extreme weather losses....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...His new venture will be a “merchant banking model for insurance”, Bhalla said....
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...England has experienced its wettest 18 months since records began in 1836, and home insurers suffered record weather damage of £573mn last year....
...The Geneva paper even suggests new types of insurance policy could be created to help limit the effect — such as those that cover loss of income if the temperature rises above a preset level....
...The area of private medical insurance that has seen the strongest growth has been in the number of people taking out personal cover, according to a survey by Statista Consumer Insights, a research company...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Expectations of a rate cut by the Bank of England later this year have helped the residential property market recover from the lows of 2023, but transaction levels are still low....
...Per Bloomberg: Apollo Global Management Inc bet on the longevity of senior citizens by acquiring illegal life insurance policies and funneling the payouts through shell entities, according to a new lawsuit...
...On the regulatory side, the forum said it was considering what it called a “sandbox” idea, where the industry and its regulator, the Bank of England’s Prudential Regulation Authority, could “discuss and...
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the final three months of last year, the 25th straight quarter of increases....
...The company set a new target to generate £2bn of operating profit by 2026, and new guidance that the cash cost of its dividend should grow by a mid-single-digit percentage....
...More work is coming their way, with the Bank of England’s Prudential Regulation Authority in January introducing a 50 per cent discount on fines for companies that make early admissions and show full candour...
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