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...“There has not been a lot of new companies and additions to capital, which given the current levels of profitability . . . you would expect [to] happen....
...Brindle’s partnership underwrites risks for New York-listed Fidelis Insurance, which floated last year and has a $2bn market value....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...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....
...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...
...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....
...Funabiki also praised UK regulators, which have come under criticism from lawmakers and lobby groups for being slow in approving new insurance securities, as “very knowledgeable and . . . always willing...
..., New York and New Jersey....
...Allstate is just one of multiple insurers that have stopped offering new homeowners’ policies in California because of the risk, as local press has reported....
...Faisal Mairaj knew he was buying a house in a flood zone when he purchased a rental property in Manville, New Jersey, in 2016....
...A string of big home insurers have halted new business in California, for example, in response to a surge in extreme weather losses....
...Barclays operates a partnership model in the US market, running co-branded credit cards for 20 companies including The Gap, JetBlue Airways and the AARP....
...Fitch downgraded Allstate’s holding-company credit to BBB+ from A- earlier this year, citing “sharp underwriting result deterioration”....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...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....
...The company set a new target to generate £2bn of operating profit by 2026, and new guidance that the cash cost of its dividend should grow by a mid-single-digit percentage....
...A new €1.5bn fund, its first targeted specifically at financial services companies, would capitalise on Cinven’s “proven track record” investing in the sector, said Caspar Berendsen, a senior dealmaker at...
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...Although the port is smaller than those of New York and New Jersey, it is the main east coast entry port for imported cars, according to the Maryland governor’s office....
...Aviva chief executive Amanda Blanc said the deal “opens up new opportunities to accelerate growth” in the group’s general insurance business....
...The group said its motor business had now “turned the corner” as it pushed up prices, adding that policies sold in the second half were estimated to achieve a net insurance margin — a new measure which calculates...
...The challenge, he added, is that there has been “a shortage of new capital coming into the market.”...
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