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...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...
...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...
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...of the property it owns, according to those people....
...More than a dozen German insurance companies filed a petition with Vienna’s district court last week, a copy of which was seen by the FT, demanding an end to Signa Prime’s self-administration....
...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...
...The bill will also extend leaseholders’ “right to manage” their property by hiring or firing property managers, according to a report in The Sunday Times....
...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 2Q underwriting results (as measured by its “combined ratio”) highlights what can happen when weather and economic conditions turn against property and casualty insurers....
...Andy Haigh Director of Climate Positive Solutions, Grosvenor Property UK, London W1, UK...
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...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...
...Yet a series of creative financings led by Leiv Synnes, the chief executive parachuted in last year, have kept the company ahead of its 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....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...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....
...Insurance companies are fleeing Florida as costs to insure property have increased dramatically....
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...“From our point of view it is a finely balanced renewal,” said David Flandro, head of industry analysis at insurance broker Howden’s reinsurance broking arm....
...During the recent annual meeting of China’s rubber-stamp parliament, Yi Gang, former head of the People’s Bank of China, cited the need for an insurance mechanism for presales, which he said would help the...
...Overall, the group posted a €5.1bn operating profit for the period, up 17 per cent on the same period last year, with profitability improving at its property and casualty division despite losses from European...
...The quake was the biggest single contributor to natural catastrophe-related insurance losses reaching $100bn last year for the fourth year running....
...This offers customers up to £10,000 to fund resilience measures when they repair their properties. Holiday and caravan parks have been left submerged by days of heavy rainfall....
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