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...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...Last year, it closed its flagship Asia V buyout fund after raising $7.1bn, eclipsing its targets....
...Siegfried Russwurm, head of the BDI, told the Financial Times that Germany’s climate agenda was “more dogmatic than any other country I know”....
...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 holding company just caught its second credit downgrade to BBB+, three tiers above junk, this time from S&P Ratings....
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...Barclays operates a partnership model in the US market, running co-branded credit cards for 20 companies including The Gap, JetBlue Airways and the AARP....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...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...
...It is humiliating to be patted on the head by an overfamiliar algorithm and to volunteer my data for uses I do not understand, but that is how I roll....
...“Home insurers will definitely be seeing some impact on margin from all the storm damage,” said Paul De’Ath, head of market intelligence at consultancy Oxbow Partners, highlighting the string of named storms...
...The company said the head of its insurance operations, Gilles Dellaert, would lead the combined unit....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Shares of companies with large auto-insurance businesses — ones that trade without the protection of Warren Buffett’s imprimatur, at least — have started to reflect those issues....
...“From our point of view it is a finely balanced renewal,” said David Flandro, head of industry analysis at insurance broker Howden’s reinsurance broking arm....
...’s largest banks to rebuild its depleted deposit insurance fund....
...companies.”...
...“Addressing this unmet need head-on is critical, and while there are pharmaceutical treatments for the excessive sleepiness associated with [obstructive sleep apnoea], tirzepatide has the potential to be...
...the company in as many years....
...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...
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...Kent left Zurich in 2020 and went on to become head of credit risk management at GFG Alliance. Kent previously did not reply to a request for comment from the FT....
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