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...In December it agreed a $13bn acquisition of US broker NFP, expanding the business it does with mid-sized companies....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...The chief executive of Lemonade has criticised “naysayers” that predicted the lossmaking insurance start-up would go out of business after it reported a small rise in its cash and investments in the second...
...The insurer is due to underwrite about £2bn of business within Lloyd’s this year and then grow that as a central part of owner Mitsui’s five-year strategy to reach £3bn within Lloyd’s and the so-called company...
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...That, AM Best reportedly argued, left the market and insurance customers relying on outdated information and left the company at risk of breaching its own policies on prompt publication....
...This year, the company will write around £2bn of business within Lloyd’s itself....
...The company agreed last month to acquire Kuvare Asset Management for $750mn, extending its reach into the life insurance sector, a market coveted by many private investment groups....
...But Berkshire shareholders and industry executives say Jain’s record — and the critical role of the insurance business — arguably make him the most important person at the company after Buffett....
...It is the second big transaction by a private capital-backed firm to take on long-term life insurance business that has failed in recent months....
...In March, the boss of Admiral said the sector was in a “different situation” and that the FTSE 100 company had even put through a “small price decrease” recently to win business....
...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....
...The state regulates home insurance premiums to protect homeowners, but in some cases that has made business unviable....
...Berkshire Hathaway’s insurance business after Ajit Jain If insurance is the secret sauce in Berkshire Hathaway’s decades-long growth, Ajit Jain is the cook....
...This was offset by a positive contribution from other business lines, such as home insurance and motor rescue....
...This month’s £242mn purchase of the Probitas syndicate will allow it to tap into what it said were the many brokers that prefer to place business via the Lloyd’s market....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Admiral had even put through a “small price decrease” in the past few months as it sought to win more business....
...Speaking to the Financial Times, David Howden, founder and chief executive of insurance and reinsurance broker Howden, predicted the price of business cover would flatten this year as the supply of insurance...
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...& officers insurance, where prices have come off....
...So-called “key-man” risk insurance is worth considering, as it pays out a lump sum that can help cover unforeseen business costs arising from your death....
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