ALL STATE PROPERTY AND CASUALTY INSURANCE COMPANY

Aon chief calls for better models for ‘stressed’ property insurance market

...The chief executive of Aon, one of the world’s largest insurance brokers, has called for better modelling of climate risks, saying conditions in the property insurance market were “stressed” after a surge...

April 7, 2024

Signa Holding

Insurers built €3bn exposure to struggling Signa property empire

...A significant part of the Signa group debt was provided by non-bank financial companies such as Dortmund-based insurer Signal Iduna, a midsized company with 12mn customers, mainly in health and life insurance...

December 12, 2023

FT Live

Global Insurance Summit

Strengthening resilience, capital and innovation as systemic risks evolve

Lloyd's of London Ltd

Lloyd’s of London attracts biggest ‘Names’ syndicate since 1990s

...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....

March 28, 2024

Property sector

Kazakh oligarch Timur Kulibayev sells Mayfair mansion for £35mn

...Forty-one Upper Grosvenor Street has been empty for a large part of that, drawing the ire of homelessness campaigners lamenting largely absentee foreign owners hidden behind offshore companies....

May 9, 2024

UK insurance industry

MS Amlin sets growth plan after underwriting turnaround

...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....

March 12, 2024

Rana Foroohar

The crippling home insurance crisis hitting America

...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...

April 29, 2024

FT Live

Infrastructure Investment in Latin America and the Caribbean

Identifying opportunities for investors and asset managers

Berkshire after Buffett

Berkshire after Buffett: the risk ‘genius’ pulling the insurance strings

...“Ajit’s achievements since joining Berkshire have been supported by a large cast of hugely-talented insurance executives in our various P/C [property-casualty] operations,” he wrote....

May 2, 2024

Climate change

EU regulator urges action on climate threat to insurance

...“All actors need to move,” she told the Financial Times....

April 22, 2024

News in-depthCoronavirus

Insurance battles over UK Covid lockdowns rage on in courts

...Not all judgments have gone against the insurers, however....

May 13, 2024

Letter

Letter: Regulator must address US home insurance market

...I have taken that route with my coastal property....

May 13, 2024

The FT ViewThe editorial board

The painful rise in home insurance costs

...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....

April 1, 2024

Letter

Letter: A plan to combat cost of climate disaster insurance

...property....

March 7, 2024

Chinese business & finance

Chinese state-owned bank seeks liquidation of property developer Shimao

...The involvement of a prominent state-owned bank signals a new level of impatience among creditors as a cash crunch for property developers continues to worsen....

April 8, 2024

News in-depthChina Vanke Co Ltd

State-linked Vanke is latest Chinese developer hit by confidence crisis

...It is 28 per cent owned by the Shenzhen Metro, occupying a middle ground between a private and state-owned company....

March 15, 2024

North American prime property

The rise of the Manhattan mega renter

...To support their domestic expat executives, certain companies have bolstered their physical presences in the state, including Blackstone and Goldman Sachs, earning South Florida the nickname Wall Street...

May 10, 2024

FT Live

US Pharma and Biotech Summit

Strategies for innovation, pricing and access

Insurance

Lloyd’s of London chief calls for quick insurance payouts on Baltimore bridge

...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....

March 28, 2024

Aviva PLC

Aviva returns to Lloyd’s of London for first time in two decades

...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...

March 4, 2024

Country Garden Holdings Co Ltd

Chinese developer Country Garden misses payment on dollar bond, say creditors

...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....

October 19, 2023

Ian Smith

It is right that reinsurers are finding it harder to fly under the radar

...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....

May 7, 2024

The Big Read

The painful slump in Hong Kong property

...[while] all the biggest business leaders would not be complaining”....

May 8, 2024

Property sector

Record number of cash offers show New York property is only for the rich

...But in New York, some of the best properties coming to market are now sitting for months....

March 5, 2024

Insurance

Chubb to send $350mn insurance payout for Baltimore bridge

...New York-listed Chubb will pay $350mn to the US state of Maryland, as insurers start to cover the collapse of Baltimore’s Key Bridge in March....

May 2, 2024

FirstFT

FirstFT: Vladimir Putin replaces defence minister in unexpected shake-up

...Companies: Brazil’s state-run oil company Petrobras is to release its first-quarter results after the market closes....

May 13, 2024

Moral Money

Soaring insurance costs threaten hurricane-prone US states Premium

...Six residential property and casualty insurers became insolvent in 2022, according to the state....

October 9, 2023

LexInsurance

Sampo/Mandatum: demerger gives Nordic insurer new lease of life Premium

...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....

October 2, 2023

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