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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....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...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....
...The Grenfell fire killed 72 people when it spread through the external cladding of a west London tower block....
...Tehran took the decision to withdraw the commanders after US President Joe Biden blamed an Iran-backed militant group for a January 28 drone strike that killed three American soldiers at a base on the Jordan-Syrian...
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....
...He’s made a shit ton of money for the company.” Buffett’s fascination with the insurance industry dates back more than 70 years....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...Bhalla is set to depart as chief executive of American Equity Investment Life when its $4bn sale to Brookfield Reinsurance closes in the coming days. The deal clinched him a $55mn bonus....
...“Anglo American? Was that a mining company?” asked 19-year-old Sinethemba Somana, turning to a friend in puzzlement....
...He added: “What this means for the charging network, [North American Charging Standard] NACS, and all the exciting work we were doing across the industry, I don’t yet know....
...Bets went sour, Hwang faced margin calls, and was forced to unwind some investments, while banks engaged in a fire sale to cover their losses....
...Read up on those transactions in the piece, as well as one relatively opaque deal that hasn’t gotten any media attention at all: an $82bn dividend Berkshire’s biggest insurance unit paid the parent company...
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...“While we don’t like increasing fees, it’s one step we are taking to return our company back to profitability and cover the increased costs of transporting bags.”...
...The Leningrad region governor said there were no casualties as a result of the Ust-Luga fire and all workers had been evacuated....
...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...
...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...
...An insurance company “needs to have the longer-term alignment”, Borean said, adding that each situation needs to be viewed on a “case-by-case basis”....
...The PLD impact assessment estimated annual payouts from the reformed system could reach €217mn and insurance costs for companies rise around 10 per cent....
...The latter two are considered “core services”, because rent costs can be sticky and Americans don’t necessarily pay increases in owners’ equivalent rent in real time....
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