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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....
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...The Swiss bank Julius Baer has been a prominent casualty....
...More than a dozen German insurance companies filed a petition with Vienna’s district court last week, a copy of which was seen by the FT, demanding an end to Signa Prime’s self-administration....
...The technology investor tapped his sprawling nine-acre estate in Woodside, California, for cash in December 2019, at a time when his company’s fortunes were cracking under the weight of a failed WeWork IPO...
...A significant part of the Signa group debt was provided by non-bank financial companies such as Dortmund-based insurer Signal Iduna, a midsized company with 12mn customers, mainly in health and life insurance...
...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....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...Luckily, 2023 was a relatively mild year for hurricanes. That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...In December, it passed a law compelling landlords and sellers to disclose a property’s flood history....
...Luckily, 2023 was a relatively mild year for hurricanes. That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Privately controlled shell companies linked to the Laura Foundation invested in developments alongside other Signa entities, and Signa Holding funded personal properties used by the tycoon and his private...
...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...
...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...
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...Overall, the group posted a €5.1bn operating profit for the period, up 17 per cent on the same period last year, with profitability improving at its property and casualty division despite losses from European...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...Including mortgage payments, mortgage insurance and property taxes, he pays $3,500 per month more today than what he spent on rent at the family’s last home....
...Property and casualty insurers may comfort themselves that their exposure to climate risk is limited by annual contracts — an industry standard that enables them to reprice, limit or completely withdraw...
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...California last month struck a deal with insurance companies to continue writing policies for property in disaster-prone areas, after big US names such as State Farm and Allstate stopped issuing any new...
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