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...The industry traditionally “reflects history as a way to predict the future”, Case added. “It’s not enough in the context of climate, or cyber or generative AI.”...
...The syndicate, announced by industry veteran Richard Brindle’s Fidelis Partnership, aims to take in $180mn of premiums in the second half, and $450mn in 2025....
...This part of the insurance industry has been hit by four consecutive years of outsized losses from extreme weather....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...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!...
...Some industry figures say reinsurers need to care about the pressures on property insurers that provide them with a chunk of their business....
...Millions of homeowners worldwide are now, however, paying a de facto carbon price, according to industry experts. Home affordability is already a problem in many countries....
...Big insurance contracts are syndicated, meaning that the lead insurer shares the losses with other firms, even if it sends the initial cheque. Chubb declined to comment....
...Toyota last week chose the Beijing auto show, the premier industry event of the year in China, to unveil a new partnership with the owner of the WeChat superapp, Tencent....
...There have also been a handful of recent industry blow-ups....
...Reinsurers have contributed to affordability problems, industry experts say, by charging much more for the cover they provide to primary insurers and tightening their terms....
...In January, industry data based on policies sold, rather than comparison quotes, showed the average premium paid for insurance was £627 in the final quarter of last year, up one-third on the same period...
...Robinson and other experts have likened the probe to the payment protection insurance scandal, which dates back to the 1990s when banks mis-sold insurance to millions of customers, leading banks to later...
...Why is the insurance industry so bad at pricing risk in a more precise way around the city, and indeed, much of the rest of the country?...
...Buffett’s fascination with the insurance industry dates back more than 70 years....
...The bright minds of the insurance industry are used to sizing up big global risks, from systemic cyber attacks to natural disasters....
...Vitality’s Jobanputra calls for the insurance industry and governments to look much more at prevention — exercise schemes and other efforts that can limit the impact of a changing climate on health....
...Chinese electric-vehicle makers BYD and Neta Auto are poised to challenge Japan’s dominance in the Indonesian car market, announcing new investment plans and rolling out their latest models at an auto show...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Cornerstone investors, including Geely’s Hong Kong-listed auto unit, soaked up two-thirds of the shares on offer....
...SAIC Motors, the largest Chinese auto exporter, has “initiated a site selecting process for a European auto manufacturing base”, according to its latest annual report....
...Platform sharing — already an industry practice — might also help them gain scale. In theory, joining forces could mean integrated supply chains and optimised operations....
...Now the UK industry is lobbying for a light-touch regulatory regime to attract captive insurers. This is a test of the government’s commitment to support financial services....
...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 chief executive of FTSE 100 group Admiral, one of the biggest UK car insurers, said its motor insurance prices had peaked, signalling the end of a surge in premiums across the industry that sent the...
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