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...This part of the insurance industry has been hit by four consecutive years of outsized losses from extreme weather....
...The chief executive of Aon, one of the world’s largest insurance brokers, has called for better modelling of climate risks, saying conditions in the property insurance market were “stressed” after a surge...
...Lloyd’s of London has attracted its biggest syndicate backed by individuals, or “Names”, since the early 1990s, as the insurance market looks to rebuild a base among private investors after its best performance...
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...First, high-quality companies should not be combined into other companies as often their fundamental edge is eroded by being mismanaged by a similar-sized company....
...All this data combined is used to decide whether to offer insurance cover and at what price....
...Analysts at Bank of America said the deal should not worsen the outlook for capital returns at Aviva....
...Reinsurers “need to feel that it is not just about selling insurance and making a profit. It’s about responsibility as part of society”, Hielkema said....
...The specialist market’s 2023 combined ratio — a measure of claims and expenses as a proportion of premiums — was an impressive 84 per cent, a 7.9 percentage point improvement....
...Its group combined ratio — a key measure of underwriting profit that shows claims and costs as a proportion of premiums — improved by 8 percentage points to 88.7 per cent....
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the final three months of last year, the 25th straight quarter of increases....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...According to the Office for National Statistics, the proportion of UK-listed shares held by insurance and pension funds has fallen since 1997 when the two sectors held a combined 45.7 per cent of UK quoted...
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...“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....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...The combined force of Babet, Ciaran and Debi created £352mn in claims for damaged homes, according to the Association of British Insurers, which said it was too early to gauge the scale of damage from the...
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...Speaking to the Financial Times, David Howden, founder and chief executive of insurance and reinsurance broker Howden, predicted the price of business cover would flatten this year as the supply of insurance...
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
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