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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....
...due to fire-safety issues....
...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....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...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....
...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...
...The Leningrad region governor said there were no casualties as a result of the Ust-Luga fire and all workers had been evacuated....
...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...
...“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...
...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...
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...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...
...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....
...In the filing, IAG also claims that Marsh, the world’s biggest insurance broker and the company that placed Greensill’s cover with insurers, “ought reasonably to have known” that the wording of a key 2019...
...London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...Farmers Insurance, one of the biggest property and casualty providers in the US, found itself under attack this year for political “wokeness”....
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