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...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...Many of the businesses now underwrite their own debt deals, lending either directly to companies or against a host of assets....
...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....
...A common measure of profits at insurance companies is the combined ratio....
...“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...
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...This could have a detrimental impact on Admiral’s future claims costs. The company’s interim payout dipped....
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...Mercedes-Benz said Baltimore was among several ports used by the company in the US....
...gone in this search, the extensive search efforts that we’ve put into it, the water temperature, that at this point we do not believe we are going to find any of these individuals still alive,” said Rear Admiral...
...Both companies have previously had deals blocked....
...US health insurer Cigna has abandoned plans to merge with Humana, a blockbuster transaction that would have created a $140bn insurance giant, according to people familiar with the matter....
...But her decision came against a backdrop of sharp rises in removals costs — by 38 per cent over the past five years, according to Admiral, the insurance group....
...It has brought in a retired Navy admiral, Kirkland H Donald, to review its quality management systems....
...The country’s largest banks expensed $16bn to cover the government-imposed “special assessment”, which replenished a deposit insurance fund that was heavily depleted by the failures of Silicon Valley Bank...
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...The company spent billions of dollars acquiring truck-stop operator Pilot Flying J and insurance conglomerate Alleghany in recent years, adding them to a portfolio that includes ice cream purveyor Dairy...
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
Case studies in best practice among general counsel and company legal teams in North America
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
...The company also said it would bring in an external third party to review its quality management systems....
...Profits may be hit by additional fees as part of the Federal Deposit Insurance Corporation’s plan to recover losses associated with rescuing Silicon Valley Bank and Signature Bank last year, most of which...
...“But Dai-ichi Life is clearly on the conservative side and people will look at it and say that’s Japan Inc. It’s great news for M&A in Japan.”...
...At a Treasury committee appearance this month, insurance executives including Admiral’s head of UK, Cristina Nestares, had come under pressure to provide such emergency relief....
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