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...Home insurance is becoming increasingly unaffordable in areas such as California and Australia, as global warming has made storms, floods and wildfires more frequent and severe....
...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....
...Last month, California’s insurance commissioner announced a series of executive actions intended to stabilise the local market....
...Shah’s previous business Health IQ, a life insurance broker that used AI, filed for bankruptcy last year after rising interests hit its ability to meet debt payments....
...A string of big home insurers have halted new business in California, for example, in response to a surge in extreme weather losses....
...AXA Millésimes, the insurance company’s wine division, is far lower-key than Bernard Arnault’s vast LVMH empire, but has its own investment in Outpost on Howell Mountain, east of the valley....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...for both companies....
...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!...
...New Jersey’s problem is too much water to start with — unlike places such as California, which suffer shortages....
...Google will detail more of its plans in AI and search at its annual I/O developer conference on May 14 and 15 at its headquarters in Mountain View, California....
...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....
...UBS has hired Sean Lynch as a managing director for technology investment banking in California. He previously worked for Barclays....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...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...
...The company is being looked at by other potential bidders....
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...The reshuffle comes ahead of Google’s first-quarter earnings on 25 April and its annual I/O developer conference on 14 and 15 May at its headquarters in Mountain View, California....
...On Monday, a California jury sided with the video game maker Epic Games in its dispute with Google....
...Inc., a footwear company based in California, agreed to settle charges for failing to disclose payments for the benefit of its executives and their immediate family members....
...Both companies have previously had deals blocked....
...US health insurer Cigna has abandoned plans to merge with Humana, a blockbuster transaction that would have created a $140bn insurance giant, according to people familiar with the matter....
...The lower court had found the prohibition against doing so violated California law....
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