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...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...
...Blackstone’s flagship property fund failed to generate enough cash to cover its dividend last year, putting strain on a vehicle the private capital group views as a beachhead in the retail investor marketplace...
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Grosvenor, the Duke of Westminster’s property company, is launching a £900mn lending business focused on residential development, as real estate investors opt for debt investments over the risk of buying...
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...The housing department has applied to a property tribunal for an order to require companies in property tycoon John Christodoulou’s Yianis Group to contribute to fixing safety issues at the Canary Riverside...
...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...
...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!...
...Allstate’s holding company just caught its second credit downgrade to BBB+, three tiers above junk, this time from S&P Ratings....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Overall, property insurers paid out £4.9bn to households and businesses last year, with more than half of that to homeowners....
...She cited industry data showing theft costs and repair costs had risen a third in a year, and the cost of replacement vehicles had jumped because vehicles were taking longer to repair....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...One sector that has learnt the lessons of workouts past is UK commercial property....
...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....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...A double decker electric bus costs around £450,000, compared with £250,000 for a typical diesel vehicle....
...to the court in order to avoid property seizures while he appeals against a near half-billion-dollar judgment against him and his companies....
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...Poste Italiane has excess insurance capital and has hedge protection from interest rate volatility....
...Urban Logistics REIT, whose stock ticker is SHED, is the latest to pounce, launching a counter-offer for Aberdeen Property Income Trust this week with aims to create a vehicle worth £800mn....
...It had also seen some examples of companies paying out 70 per cent of the premiums in commission to third parties involved in selling the add-on insurance....
...Motor insurance prices have hit an all-time high, with both combustion engine and electric vehicles feeling the squeeze....
...“A purpose-built removals vehicle of the proper spec, the standard sort of 18-tonne truck, is £150,000 to put on the road....
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