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...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...
...Warnings are growing from policymakers about an approaching “tipping point” when extreme weather caused by climate change makes insurance unavailable in certain regions....
...Its insurance customers carried lower costs of capital than banks, making them a good home for many loans, said Gray....
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...into bank parent companies....
...Zurich is counterclaiming against Lex Greensill, Greensill Capital, Greensill Bank, Gupta and three of the latter’s companies....
...Meanwhile, Swedish insurance companies have the highest holdings of stocks in the EU....
...Take a break from the news V-necks have been verboten for as long as most of us can remember, writes Teo van den Broeke....
...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...
...Last October, the bank warned that growth in the region’s developing economies would slow to 4.5 per cent in 2024, with depressed activity in China and lower productivity in other countries contributing...
...Since the collapse of several large US regional lenders last March, Blackstone has been buying assets from banks and managing them on behalf of its credit and insurance clients....
...“These companies are proving that there are multiple avenues of growth for them by product, region and distribution channel,” said William Katz, an analyst at TD Cowen....
...“For example, we regularly met with regional health insurance company AOK.”...
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Smart read The chief executive of Aon, one of the world’s biggest insurance brokers, warns that better climate risk modelling is needed for insurers to keep providing coverage to households in regions vulnerable...
...Global Infrastructure Partners has hired Credit Suisse’s former chief executive for the Asia-Pacific region Edwin Low as a partner focused on emerging markets, Bloomberg reported....
...Oil markets have been less affected by the disruptions, with many companies still willing to traverse the Red Sea route, according to Vortexa, despite facing higher insurance costs....
...The last significant US bank to fail was First Republic, which was closed by the Federal Deposit Insurance Corporation in early May....
...The Big Read Earlier this week, Knight Insurance Group, one of a handful of companies owned by Los Angeles-based subprime auto loan billionaire Don Hankey, put up the $175mn bond for Donald Trump....
...Investors are mainly pension funds and insurance companies but the group includes sovereign wealth funds and family offices....
...Chief executive David Vélez told the Financial Times the company he launched in Brazil around a decade ago could become the region’s largest in the sector by customer numbers, with expansion under way in...
...Diesel is the workhorse fuel for the region, widely used in freight and aviation as well as for heating many homes....
...Today’s big read At first, it was Lazard and Rothschild that Roger Altman’s boutique New York investment bank Evercore had in its sights....
...Last week, US insurer Allstate posted a net loss of $310mn in the fourth quarter as higher motor insurance prices were not enough to overcome increased claims costs and related increases in its reserves....
...We also have learned since SVB’s failure that the bank was, in fact, using a service to farm out deposits for FDIC insurance....
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