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...German insurers including Munich Re and Allianz have amassed more than €3bn of exposure to the struggling property empire owned by real estate billionaire René Benko....
...The real estate arm of the French insurance company has agreed to purchase Bry-sur-Marne Studios, east of Paris, which produced director Sofia Coppola’s 2006 film Marie Antoinette, one of the Hunger Games...
...The Trump Organization had approached 30 surety companies — including Allianz, Axa, Berkshire Hathaway, Chubb, Munich Re, Swiss Re and Zurich — via four separate brokers, to no avail, they added....
...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...The BBC has agreed to sell the Elstree studio complex that is home to soap opera EastEnders to French insurance company Axa, providing a financial boost of up to £70mn for the cash-strapped broadcaster....
...They said that in their efforts to secure the larger bond they had approached 30 surety companies — including Allianz, Axa, Berkshire Hathaway, Chubb, Munich Re, Swiss Re and Zurich — via four separate brokers...
...The former credit rating analyst and his team have worked since 2018, funded by venture capital firm Silverstripe, to set up the company and obtain a banking licence....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...And so we’re going to have to manage the impacts.”...
...“They lack coverage in some places, they’re not forward looking, and they don’t account for climate change, and they don’t account for pluvial flood risk,” explains Gourevitch, referring to water pooling...
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...and property catastrophe reinsurance....
...“Society, including insurance companies, has globally not been strict enough on prevention,” says Frédéric de Courtois, deputy chief executive of Axa....
...This was offset by strong trading in property and casualty insurance, which helped the company generate €4.1bn in underlying earnings....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...company....
...Some flood-hit households may be eligible for the so-called Build Back Better scheme provided by Flood Re, the UK reinsurance scheme, and participating insurers....
...So if you’re getting a Transit [van] that’s got oil stains in the back of it and a few tatty blankets, I’m afraid that’s not removals.”...
...The cost of reinsuring such areas rose by between 10 per cent and 50 per cent, according to Gallagher Re’s report....
...According to research from Canada Life, an insurance and retirement services company, more than half of UK adults do not have a will, and 13 per cent say they have no plans to write one....
...Foreshadowing that danger, Axa reportedly wants to sell the reinsurance arm of its subsidiary XL. Axa is a large, stolid French commercial and retail insurer....
...“In respect to Signature and the teams that we’ve built, they’re doing a phenomenal job as indicated in my prepared remarks, they’ve had a great year,” Cangemi told analysts....
...Global reinsurers Munich Re, Swiss Re and Scor declined to comment, while Hannover Re said in a statement that it had taken a “bespoke and differentiated approach by [insurance] client depending on the underlying...
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