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...The five insurers and reinsurers belong to the A-Cap group, and together held $11.5bn of assets at year end....
...Yeh runs a car club and frequently participates in street races in the mountains that dominate the island’s geography....
...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...“There is a lot of cover for the [protection and indemnity] element to address,” said Neal, citing the $3bn of liability reinsurance that the ship has access to through the International Group of P&I Clubs...
...“They’ve really been pushing $40 [an hour] and free health insurance.”...
...The attorney-general’s lawyers further claimed Knight Insurance sent “100 per cent of its retained insurance risk to affiliates in the Cayman Islands”, where “lax regulations” allowed the company to bolster...
...Robinson and other experts have likened the probe to the payment protection insurance scandal, which dates back to the 1990s when banks mis-sold insurance to millions of customers, leading banks to later...
...US insurance group A-Cap, a lender to 777, late last month said it would attempt to raise $400mn in fresh capital and take back control of assets ceded to 777 Re because of credit rating downgrades....
...In the wake of the probe, authorities have turned a closer eye on Singapore’s most affluent residents, visiting auto dealerships and real estate groups and warning in October that luxury assets including...
...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...
...Insurance also operates on rolling contracts. Right now, auto insurers are perhaps pushing up premiums to make up for higher post-pandemic costs. Both should settle, but it will require patience....
...Besides credit card debts, Blackstone has picked up home improvement loans, auto loans and loans financing rooftop solar power....
...This month, the parent company of Thames, the UK’s biggest water group, defaulted on a £400mn bond, part of the group’s £18.3bn stack of debt....
...Private capital groups such as Apollo, KKR and Brookfield have swept into the life insurance sector since the financial crisis, buying insurers and reinsurers or striking asset-management partnerships....
...The PPI scandal dates back to the 1990s when banks mis-sold a type of insurance product to millions of customers....
...Late last year, the Federal Deposit Insurance Corporation proposed requiring banks to disclose more data on what types of shadow banks they are lending to....
...Britannia is one of 12 mutual insurers that make up the International Group of P&I Clubs, which take the first $10mn of losses from any one incident themselves, share another slice of losses with the wider...
...He also has a $200mn stake in Axos, an online-only bank that is one of Trump’s largest direct lenders, making him the group’s biggest shareholder. The auto lender is used to doing risky business....
...The group had the backing of the majority of shareholders present for the vote....
...US regulators have told a group of insurers to cut their exposure to 777 Partners, the Miami-based investment firm that is awaiting approval to buy Premier League football club Everton....
...Around us, business meetings were in full swing with groups of (mainly) men in crisp white shirts and V-necks talking quietly over pots of coffee....
...Among the bigger companies are Copart and Insurance Auto Auctions, which auction off junked cars; LKQ, which sells salvaged parts to repair shops and retail customers; and Boyd Group Services, which buys...
...Analysts at research group Bernstein have estimated that China has the capacity to make close to 40mn vehicles a year, but only has domestic demand for 20mn to 25mn cars....
...At a news conference earlier today, the chief executives of the two groups said the scope of their co-operation would include software, core EV components and auto intelligence technology....
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