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...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....
...Read up on those transactions in the piece, as well as one relatively opaque deal that hasn’t gotten any media attention at all: an $82bn dividend Berkshire’s biggest insurance unit paid the parent company...
...The attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...Howden has grown its broking business in recent years through acquisitions such as rival Aston Lark and reinsurance specialist TigerRisk, as well as hiring from other companies....
...But AIG says of this lot “comprises companies of a similar size and business model that draw from the same pool of talent as AIG”....
...Unlike rivals such as Apollo Global and KKR, both of which own large insurers, Blackstone manages assets it acquires on behalf of insurers such as Allstate and AIG....
...Legal experts said it was not uncommon for a company buying another business to increase insurance limits during the acquisition process, and there is normally no obligation to disclose this information....
...Last year, the company also completed an acquisition of New York-listed Cigna’s life and health insurance businesses across six Asia-Pacific markets, including Taiwan....
...It accused the project of being run not by Victoria University as agreed but by Phillips’s company Aristotle, of making too much money and of offering markets outside the scope of the agreement....
...As Esterov told Alphaville: It’s very possible that [a hypothetical insurer’s] New York company is in distress and the Florida company is doing fine . . ....
...It has sold everything from Hong Kong insurer AIA to a Vermont ski resort, and pivoted from planning life insurance acquisitions to carving out the whole life insurance business as it jumped between multiple...
...The company also reinstated its first half dividend....
...AIG provides insurance to the coal industry and other fossil fuel projects. The company declined to comment....
...For the rest, expect premiums to be a permanent and increasing cost of doing business....
...Insurance companies now provide emergency support services as well as financial compensation, so “the insurers own the digital fire trucks”, he said....
...of the £12.5m due as part of the purchase of its UK speciality steel business four years ago....
...Andrew Harrison-Sleap, head of the construction professional indemnity business at insurance broker Marsh JLT Specialty, said the publicity around Grenfell was putting insurers off....
...This is not Onex’s first foray into insurance — it has also backed Ryan Specialty and York Risk Services....
...Insurance group AIG bought his company for $18bn in stock in 1998, an astounding valuation that was equivalent to five times book value....
...“There is an opening not to try and replicate what big firms are doing but to go narrow and deep, built on specialty insurance and reinsurance expertise.”...
...Jon Turner, head of insurance broker Gallagher’s UK specialty business, said: “There was a snowball rolling down the hill and coronavirus has added to that as it gathers momentum.”...
...So when the UK voted in 2016 to leave the EU, Luxembourg’s political and business leaders saw a fresh opportunity to make an outsized impact as a host of EU countries vied to grab business from the City...
...Then he co-founded Redemption Roasters, a specialty coffee company with five London shops, a wholesaling operation and a prison roastery....
...Prestowitz names Maurice Greenberg, ex-head of the insurance giant AIG, and Fred Smith, the boss of FedEx, the US parcel delivery company, among the corporate titans that played this game....
...Insurance experts said that while many companies buy protection if an event is cancelled, communicable diseases such as Covid-19 are usually excluded and are only covered via an add-on, which not everybody...
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