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...The move would cement the group as one of the biggest underwriters in the London market. This year, the company will write around £2bn of business within Lloyd’s itself....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...“I genuinely think they’ve changed,” he said, adding that Lloyd’s was now seen “as a lead market again on big, complex international risks”....
...The UL network traces its roots to a late 19th century effort to help insurance companies save money by testing electrical products for fire risk....
...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....
...In the filing, IAG said that Lex Greensill, the Australian financier who ran the group, approached its key underwriter, Greg Brereton, in 2018 to propose an arrangement that would allow its German banking...
...The former US president’s team has spent “countless hours negotiating with one of the largest insurance companies in the world”, the lawyers wrote in a filing, citing a broker they hired, but have concluded...
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Insurance group Zurich has accused financier Lex Greensill, steel magnate Sanjeev Gupta and certain of their companies of a “conspiracy” to deceive its underwriters and create sham debts....
...a particular challenge for underwriters....
...Brokers and underwriters say 2023 will be a record year for tax insurance, after the number of companies seeking to purchase policies hit a new high and the money available to cover unfavourable rulings...
...In response, the consultancy expects home insurance prices to rise by 36 per cent over the two-year period....
...Howden, the UK insurance broker, has secured £500mn of insurance capacity from a group of Lloyd’s of London firms for a newly launched division that aims to turn tech start-ups into mini underwriters....
...Market participants said this was feeding through to significantly higher prices for international and local groups seeking to protect infrastructure and property....
...Syngenta’s IPO prospectus, dated June 2023, named mainland banks CICC and Bank of China International as sponsor banks and Citic Securities as the underwriter....
...This was likely to “push into pricing for 2024”, he added, though how significantly will depend on underwriters’ judgment as to whether the heightened storm activity requires the longer-term trend to be...
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...AI has already been used in the sector, for example in analysing claims, but the negotiation of specialist commercial insurance contracts — where underwriters provide policies covering against everything...
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...Another challenge is the deal size for what is a small-to-mid cap company. The underwriters will need to allocate €907mn of stock....
...The IRA’s bombing campaign, combined with a general pullback from reinsurers after US hurricane losses, had created a market failure in terrorism insurance as underwriters held back from offering cover....
...Last month, retailer John Lewis said it had stopped selling insurance for electric vehicles after Covea, its underwriter, withdrew cover while it reassessed the cost of EV repairs — a move confirmed by the...
...Financials Acquisition Corp, a special purpose acquisition company, said on Monday it had terminated a plan to combine with a newly created entity, London Innovation Underwriters, after the latter received...
...“South Africa as a country may feel it’s losing a national champion to an international foe,” said Dawid Heyl, a portfolio manager at Cape Town-based asset manager Ninety One, which holds more than 2 per...
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