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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...
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...In 1989, one of Europe’s great industrial families, the Wallenbergs, sent a young Swedish executive called Conni Jonsson to the US to see how Wall Street worked....
...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....
...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....
...A young driver with a poor credit score, living in a rented flat in a town where one has to drive for work, faces a very high obstacle....
...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....
...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....
...The company said the head of its insurance operations, Gilles Dellaert, would lead the combined unit....
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...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....
...companies.”...
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...Puzzle 2556 Kristina Brankov v Maria Manakova, Serbian League 2023. Black to move and win. Click here for solution...
...Around us, business meetings were in full swing with groups of (mainly) men in crisp white shirts and V-necks talking quietly over pots of coffee....
...at the V&A....
...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...
...The young man wants to remain nameless, because syphilis is about as socially acceptable today as it was under the Tudors....
...Over the next 16 years, he spearheaded a string of deals, buying brokerage EF Hutton, investment bank Lehman Brothers, insurance firm Fireman’s Fund and other businesses that turned the charge-card company...
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...This trend has intensified in recent years with large insurers following suit: for example, Allstate, Chubb and AIG sharply scaled down operations in California citing onerous price regulation....
...There were some longer dresses: strapless or with a deep V neckline, held together by delicate lace....
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