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...MS Amlin is targeting growth in areas such as marine insurance, one of its specialities....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...The head of Tokio Marine has said the Japanese insurance company “cannot run away from” natural catastrophe risk despite deepening concerns among investors and policymakers over rising industry losses linked...
...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....
...due to fire-safety issues....
...In late April 2019, just days after Japanese insurance group Tokio Marine announced it had acquired BCC, Lex Greensill requested that Brereton confirm the arrangement in a letter to be shared with BaFin,...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Lloyd’s boss John Neal told the Financial Times that the incident had the potential to produce the largest marine insurance claim in history, topping the crash of the cruise ship Costa Concordia in 2012,...
...supply chain finance company had should pay out....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The International Union of Marine Insurance said in September that although fires caused by these vehicles were not more common or intense than those caused by traditional cars, new firefighting techniques...
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...Marine insurance experts told the Financial Times that the accident would probably lead to a substantial claim, including for damage to the bridge and disruption to the port....
...The 20 vessels identified by the FT and Danwatch were carrying a total of about 10mn barrels of oil, according to Kpler, a data and analytics company....
...Hankey may be playing with fire again....
...The marine insurance market has also seen a sharp rise in the cost of travelling through the Red Sea and Suez Canal as a result of a wave of attacks by Iran-backed Houthi rebels....
...the company in as many years....
...London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies...
...In late January, they started a serious fire on the Marlin Luanda, a tanker operating on behalf of commodities trader Trafigura....
...Fire risks are also rising, given ships are carrying greater amounts of lithium-ion batteries....
...By contrast, the amount paid in claims during the quarter was up 11 per cent, as insurers paid out to cover fire, theft, weather, water leaks, and other events....
...Insurance companies have pushed up the costs of protecting homes, cars and valued possessions from loss and damage....
...One marine insurance expert said the liability insurance payout, including bridge damage, could rival the approximately $1.5bn paid after the crash of the Costa Concordia cruise ship in 2012, a record....
...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
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