Hints and tips:
Related Special Reports
...“There has not been a lot of new companies and additions to capital, which given the current levels of profitability . . . you would expect [to] happen....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...Last month, California’s insurance commissioner announced a series of executive actions intended to stabilise the local market....
...Such groups have become the focus of venture capital investors, who have increasingly been crowded out from an AI investment boom by Big Tech companies that have showered billions of dollars on groups making...
...A string of big home insurers have halted new business in California, for example, in response to a surge in extreme weather losses....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...New Jersey’s problem is too much water to start with — unlike places such as California, which suffer shortages....
...The reinsurance industry says it cannot currently price the type of localised risk that is pushing up home insurance costs and leading to reduced coverage in states like California....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...This is what happened to Executive Life, then the largest insurer in California, in the early 1990s: policyholders withdrew $4bn after the company announced losses from junk bond investments, and the company...
...In his latest shareholder letter Warren Buffett said his company Berkshire Hathaway, at its size and maturity, should “operate with materially less risk of permanent loss of capital”....
...California last month struck a deal with insurance companies to continue writing policies for property in disaster-prone areas, after big US names such as State Farm and Allstate stopped issuing any new...
...In his latest shareholder letter, Warren Buffett said his company Berkshire Hathaway, at its size and maturity, should “operate with materially less risk of permanent loss of capital”....
...The Big Read Earlier this week, Knight Insurance Group, one of a handful of companies owned by Los Angeles-based subprime auto loan billionaire Don Hankey, put up the $175mn bond for Donald Trump....
...The company spent billions of dollars acquiring truck-stop operator Pilot Flying J and insurance conglomerate Alleghany in recent years, adding them to a portfolio that includes ice cream purveyor Dairy...
...That wasn’t the case for a California grocery chain, the FT’s Behind the Money podcast explains....
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...If it sticks, California’s rules would be a game-changer for companies, especially banks....
...“It’s everyone from insurance companies, [to] sophisticated family offices and even sovereign wealth funds.”...
...Those earnings were buoyed by growth in the firms’ overall assets, particularly credit and insurance-based investment operations, which benefited from fast-rising interest rates....
...Smart reads Inequity accounting A California family thought a deal to sell its supermarket chain to Kingswood Capital was all but done. Then came the private equity hardball, FT Alphaville writes....
...If a combined ratio is above 100, that means a company’s insurance business is unprofitable, or it’s paying out more in claims and operating expenses than it is earning in premiums....
...Given where you live, you may feel relatively insulated from devastating wildfires plaguing distant California. You think insurance premiums in California must be very expensive....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
International Edition