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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Marshall Motor Group has also been bought by Cinch-owner Constellation, while Lookers was bought by Canada’s Alpha Auto in a deal announced last year, and Cambria was taken private by its management team...
...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...The insurer is due to underwrite about £2bn of business within Lloyd’s this year and then grow that as a central part of owner Mitsui’s five-year strategy to reach £3bn within Lloyd’s and the so-called company...
...Tanker owners must be able to prove they hold adequate insurance against spills in order to be allowed to access ports and other facilities....
...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!...
...In addition, she pointed to the rise of new distribution channels such as online brokerages and neobrokers that are disrupting the dominant bank and insurance company distribution systems in Europe....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...I worked for some years for a mutual insurance company that is now probably the best capitalised insurer in the UK....
...“They’ve really been pushing $40 [an hour] and free health insurance.”...
...He was leaving “at his own request and by mutual consent”, the company said, adding it would name his successor “in due course”....
...The increase was mostly due to higher adjusted pay and benefits, according to the company’s earnings commentary....
...Robinson and other experts have likened the probe to the payment protection insurance scandal, which dates back to the 1990s when banks mis-sold insurance to millions of customers, leading banks to later...
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...In recent years, its performance has been blighted by higher than expected compensation payouts linked to mis-sold payment protection insurance....
...This story has been amended to correct a reference to the owner of Eurovita....
...Car owners have been squeezed by a surge in insurance prices since their pandemic lows, as companies try to reflect a surge in claims costs....
...Second, auto-insurance prices — our favourite CPI component from the past year! — has also been more muted in the PCE, the Fed’s preferred inflation gauge....
...Wingefors, Embracer’s co-founder and largest shareholder, said he planned to be a “long-term, active, committed and supportive owner of all three entities”....
...Nusrat Ghani, industry and economic security minister, welcomed the announcement: “This is a further vote of confidence in the UK economy and exciting news that shows our plan for the auto industry is working...
...Tesla owners must be choking on their kale smoothies. Auto insurers have rapidly boosted prices for electric vehicle cover in the past year, much more than for fossil fuel cars....
...Earlier this week, Knight Insurance Group, one of more than a handful of companies that make up Hankey’s financial empire, put up a $175mn bond for Donald Trump, an amount the former president had to post...
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...Insurance also operates on rolling contracts. Right now, auto insurers are perhaps pushing up premiums to make up for higher post-pandemic costs. Both should settle, but it will require patience....
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