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...But co-founder and chief executive Daniel Schreiber told the Financial Times that the results, which included a small increase in its cash and investments, from $942mn at the end of the first half to $945mn...
...Mick McAteer, co-founder of the Financial Inclusion Centre think-tank and a former FCA board member, said the stress-test plan was “very welcome”....
...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!...
...Further reading: — What’s going on with US car insurance? — Car insurance! Again! — The US insurance storm continues — Taking a CLOser look at insurers...
...Blackstone merged its credit and insurance investment operations in September in preparation for a push into asset-backed lending markets, Gray and co-founder Stephen Schwarzman have told shareholders....
...Auto-insurance businesses are still losing money. And a run of unusually destructive bad weather has brought additional losses for their property-insurance businesses....
...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...
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...The FT story on the deal quoted KKR co-CEO Scott Nuttall saying the following: “We are not doing this because we have to, we are doing it because we want to and this has been a home-run investment,” said...
...Auto-insurance losses were part of the reason Fitch Ratings downgraded Allstate’s credit to BBB from A- this week, as auto-policy underwriting is the insurer’s biggest line of business by premiums collected...
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...Instead of buying outright, it has struck partnerships with several large insurers including AIG and Allstate, where it provides asset management services to their policies....
...Those with the most exposure to home insurance have suffered more. Shares in Allstate, the country’s second-biggest home insurer by premium volume, have fallen by a fifth....
...Barings said that in early March more than a dozen employees resigned for Corinthia, alongside global private finance co-heads Fowler and Adam Wheeler....
...Although the decisions by US insurers such as Allstate and State Farm to stop writing homeowners insurance in California may appear unduly harsh, they do serve to make the hazard risk explicit (“What happens...
...Michael Wise of the South Carolina insurance regulator said he was aware that his Bermudian counterparts were addressing issues at 777 Re, and that the state continued to “co-ordinate our efforts as necessary...
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...The UK’s Takeover Panel, which oversees local deal activity, has named Barclays’ co-head of M&A for Emea Omar Faruqui, as its director-general....
...But we got there in the end and here it is now, for your wintertime pleasure, and as a little insurance policy for us against losing this recipe again....
...from state-owned insurance companies....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
Trends in geopolitics force faster responses from legal teams
...“Health insurance is not my top priority.”...
...To do this, I looked at two time-slices of Federal Deposit Insurance Corporation data, from early 2003 and late 2023, using a data collection tool from BankRegData....
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