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...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....
...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....
...Premiums, and commissions, have surged since the Grenfell fire for buildings with combustible cladding and other building defects....
...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!...
...Allstate’s 2Q underwriting results (as measured by its “combined ratio”) highlights what can happen when weather and economic conditions turn against property and casualty insurers....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...As insurance companies recover from recent losses, and inflation falls, there should be scope for more competitive pricing....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...The ship’s lead liability insurer, Britannia P&I, said on Thursday it was “working closely with the vessel’s owner and manager and the relevant US authorities as part of the investigation into the casualty...
...Unlike rivals such as Apollo Global and KKR, both of which own large insurers, Blackstone manages assets it acquires on behalf of insurers such as Allstate and AIG....
...In recent months, both State Farm and Allstate have announced plans to stop writing new policies in fire-prone California....
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...The Leningrad region governor said there were no casualties as a result of the Ust-Luga fire and all workers had been evacuated....
...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...
...“Fire fighting [is] very difficult” on modern car carriers, said Richard Gunn, a casualty lawyer at law firm Reed Smith, who added that ships tended to be built with several decks that were built as low...
...He made a distinction between private capital groups that buy insurance companies as a long-term balance sheet investment, and situations where the insurer is owned through a private equity fund with a shorter...
...Hankey may be playing with fire again....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...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...
...Vietnam has in recent years emerged as a top destination for companies looking to diversify manufacturing away from China due to rising tensions between Washington and Beijing....
...The governor of the Nizhny Novgorod region in central Russia said a drone struck the Kstov industrial zone, causing a fire at an oil refinery owned by Lukoil, the largest non-state owned Russian oil company...
...Next, the shadow banking system — an assortment of financial institutions ranging from hedge funds to insurance companies — still lacks the liquidity to weather price adjustments, according to the FSB....
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