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...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...A-Cap owns five insurers: Sentinel Security Life, Haymarket Insurance and Jazz Reinsurance in Utah, as well as Atlantic Coast Life Insurance and Southern Atlantic Re in South Carolina....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Satya Nadella, Microsoft’s chief executive, regards AI dominance as critical to getting ahead of rivals, and a way to eat into arch-rival Google’s dominance in search....
...Regulators are concerned that such intragroup reinsurance transactions could create conflicts of interest and concentrate risk in a way that would be less likely if the reinsurance was done by an independent...
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...The company conducted work to compare listing venues....
...She proposed a range of solutions including tightening building rules, creating national and EU-wide schemes to share risks, and drawing more deeply on reinsurance markets....
...Reinsurance prices have surged over the past 18 months, squeezing insurers and their customers....
...and reinsurance recovers....
...Oddly, it is not — yet — for the reinsurance industry. Insured losses of $108bn for 2023 were broadly in line with the five-year average....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...“We have not really seen a willingness on the part of the reinsurance community to step back down,” said David Priebe, president of reinsurance broker Guy Carpenter....
...The company also claimed for about €3.7mn for a damage survey, plus other costs. Lloyd’s of London and Arch declined to comment....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...When insurance companies cede risk to reinsurers, they heavily scrutinise them either directly or via careful monitoring of their credit rating reports....
...The performance was helped by a quiet year for hurricane claims as well as a rapid run-up in reinsurance prices over the past 18 months....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...In the UK, the Bank of England has proposed limits for so-called funded reinsurance deals....
...Last year’s results benefited from fewer hurricane claims as well as a steep rise in reinsurance prices. That is unlikely to continue, though Lloyd’s expects rates to level out rather than fall....
...Diamond producers including De Beers’ arch-rival, Russia’s Alrosa, tried to curb the flow of gemstones into the market in the second half of last year....
...Over the past year, global companies have reduced the amount of property catastrophe reinsurance that they are willing to give to primary insurers and significantly increased its price....
...The Bank of England has also warned groups to more tightly manage the reinsurance deals they are doing to increase their capacity for bulk annuity transactions....
...It did not spell out how much would be absorbed by Japan’s earthquake reinsurance programme....
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