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...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...Fidelis will work with Hampden, the largest agency at Lloyd’s allowing wealthy investors to participate in the market by putting their capital against insurance risks....
...US-listed Aon has a $65bn market value and employs 50,000 across 120 countries. In December it agreed a $13bn acquisition of US broker NFP, expanding the business it does with mid-sized companies....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...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....
...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...
...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...
...In the US, insurers that have taken on exposure to the private equity firm 777 Partners are under fire from regulators and rating agencies for potentially excessive risk-taking....
...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...
...Should companies be punished for handing money back to shareholders? The Department of Justice seems to think so....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The rating agency recently upgraded its credit rating on an improved underwriting performance and a stronger balance sheet. Lloyd’s has also made progress in reviving face-to-face trading....
...But a less-followed risk is adding to unease at companies offering life and health insurance: scientists’ warnings, and research findings, that a warming climate is causing an increasing number of excess...
...US property and casualty insurers could face $40-180B in losses related to PFAS litigation....
...“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....
...But it seemed a chance worth taking: according to the US Federal Emergency Management Agency, the risk of severe flooding was only 1 per cent a year. Five years later, Hurricane Ida hit....
...The writer is a former chair of the US Federal Deposit Insurance Corporation and a senior adviser to the Systemic Risk Council Thoughtful shoppers distinguish between best price and best value....
...In some of the worst-hit areas of the US, several insurers have pulled back from offering home insurance, contributing to an affordability crisis....
...Law enforcement agencies in the US state of Maine were searching for an active shooter on Wednesday evening after attacks at multiple locations caused “multiple casualties”....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...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....
...Earlier this week, Knight Insurance Group, one of more than a handful of companies that make up Hankey’s financial empire, put up a $175mn bond for Donald Trump, an amount the former president had to post...
...Monday’s report also called for bodies such as the National Infrastructure Commission, an executive agency that provides advice to the government, to be given a “broader remit and be less at the mercy of...
...Also in the group is Manuel Sánchez Rodriguez, a former top executive at Spanish bank BBVA and a board member, since 2018, of the US government-backed mortgage insurance company Fannie Mae....
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