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...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....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...In recent months, both State Farm and Allstate have announced plans to stop writing new policies in fire-prone California....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...On all types of ships, the number of fires reported last year increased 17 per cent to 209, the highest level for a decade, according to a report published in May by Allianz....
...The company will make progress only if politicians do not get in its way. Protectionist European legislators may be the least of its worries....
...Because it is difficult for households and companies to self-insure against shocks of this type, the case for social insurance is strong. I have done so repeatedly myself....
...They needed their own training, insurance and vital equipment....
...SVB also has about $6.7bn of loans to early and growth-stage companies that it has warned are only likely to be repaid on an exit, such as an initial public offering, a sale of the company or a new funding...
...They may have given up just as the pricing cycle was turning — though by doing so, and by removing competitive pressure, they will also have magnified the benefit for the underwriters that remain....
...With his own work off limits in China and recently censored in Hong Kong, Ai is coruscating about western museums such as the Pompidou, Tate and the V&A that have been paid millions by state-owned companies...
...It wouldn’t accept insurance or take money from pharmaceutical companies. And it would have its own medical advisory council as an alternative to the US Centers for Disease Control and Prevention....
...No premiums for insurtech Once high-flying insurance start-ups like Lemonade, Hippo and Root have emerged as the biggest casualties of the broader sell off in tech stocks, the FT’s Ian Smith writes....
...MoneyLion has added Even’s insurance and personal loan services into its banking app and hopes the company’s software offering will also bring new customers to its own products....
...After the continuous 10-minute slaughter, at least 379 lay dead and more than 1,000 wounded. Some estimates put the number of casualties much higher....
...“Some investors may have gotten over their skis and their books might have not turned out well this year,” he adds....
...They had to fit modern alarms costing £90,000, and insurance costs went up by 900 per cent to £210,000 in Anderson’s own block. “The annual service charge went through the roof,” he says....
...“I’m not saying I can beat Allstate,” Wand says, referring to the 89 year-old, $35bn market cap insurance group....
...RMS (which stands for Risk Management Solutions) mostly sells to property and casualty insurers, and reinsurance companies....
...An unexpected victim of the Greensill fallout The Greensill Capital scandal has claimed another casualty....
...Markets The Bank of England’s quantitative easing programme has made it the biggest holder of UK government debt (gilts), overtaking overseas investors and pension and insurance companies....
...Quick Fire Q&A Company name: Holvi When founded: 2011 Where based: Helsinki and Berlin CEO: Antti-Jussi Suominen What do you sell, and who do you sell it to: Holvi is a digital all-in-one business banking...
...The settlement was less than the $20bn a group of insurance claimants - including the likes of AIG, Allianz, Allstate, Farmers Insurance Exchange and hedge fund Baupost Group - had sought, prompting some...
...As in previous years, more money went into property and casualty insurance start-ups than life and health insurance companies....
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