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...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...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....
...Admiral posted group pre-tax profits of £443mn for 2023, up almost a quarter on rising car insurance premiums but below analysts’ expectations....
...In March, the boss of Admiral said the sector was in a “different situation” and that the FTSE 100 company had even put through a “small price decrease” recently to win business....
...The company said Kirkland Donald and a team of “outside experts” would provide recommendations to chief executive Dave Calhoun and the Boeing board....
...A common measure of profits at insurance companies is the combined ratio....
...In its interim results on Wednesday, Admiral said big price rises helped its turnover grow a fifth to £2.2bn....
...FTSE 100 peer Admiral posted group pre-tax profits of £443mn for 2023, up almost a quarter on rising car insurance premiums but below analysts’ expectations....
...“We are very aware there is lots of pressure on our customers,” she said, acknowledging that “insurance prices going up definitely doesn’t help” with the cost of living squeeze, and stressing the company...
...Last month, Chubb’s chief executive Evan Greenberg told analysts that the company’s “exposure is within what we would contemplate and there’s nothing outsize to us”....
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...The steep rise in the cost of home insurance in the US and elsewhere can be traced, in part, to a move two years ago by P&C reinsurers to increase the price of cover against natural catastrophes and toughen...
...This could have a detrimental impact on Admiral’s future claims costs. The company’s interim payout dipped....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Under such schemes, governments share losses from natural disasters with the insurance sector, or create structures to pool risk....
...America’s home insurance crisis: Rana Foroohar uses her own experience to explain the difficulties of finding affordable home insurance in the US....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...He’s made a shit ton of money for the company.” Buffett’s fascination with the insurance industry dates back more than 70 years....
...The company then increased its position twice in 2018 and again two years later, becoming the bank’s largest shareholder. Its sale this week reduces the stake to 7.98 per cent from 8.01 per cent....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...remained “committed to further growth in the German savings and retirement services market” while Axa said it will now retain the business, but had separately entered into a new reinsurance deal with a company...
...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....
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