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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....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...A combined Cigna and Humana would help the companies compete with larger rivals including UnitedHealth Group and Elevance Health....
...Cigna chief executive David Cordani said the company remained “financially disciplined” and “will consider bolt-on acquisitions aligned with our strategy” in a statement on its share repurchase programme...
...US health insurer Cigna has abandoned plans to merge with Humana, a blockbuster transaction that would have created a $140bn insurance company, according to people familiar with the matter....
...A combination between Cigna and Humana would help the companies compete with larger rivals such as UnitedHealth Group and Elevance Health, formerly known as Anthem....
...Rosalind Brewer, the company’s previous chief executive, stepped down in September following a two and half year tenure in which the US-listed pharmacy group’s valuation halved and it abandoned a planned...
...Inflation took a toll on the chain’s core middle/lower income consumer, and pandemic supply chain snarls were particularly painful for the company, which imports most of its products....
...So they are an insurance company for insurance companies. They do have a primary property casualty insurance unit, but mostly they’re reinsurance....
...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....
...Tesla fell 1.8 per cent following reports that a group of Nordic pension funds will formally ask the company to respect collective bargaining for its employees in the region, as the electric car maker ’s...
...“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....
...When insurance companies cede risk to reinsurers, they heavily scrutinise them either directly or via careful monitoring of their credit rating reports....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...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....
...Cigna is reportedly in talks to merge with Humana in a deal that would create a US health insurance company worth $140bn....
...It recently hired Wentworth, a former Cigna executive, as part of its plans to develop its healthcare services....
...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....
...In the UK, the Bank of England has proposed limits for so-called funded reinsurance deals....
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