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...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...The syndicate, announced by industry veteran Richard Brindle’s Fidelis Partnership, aims to take in $180mn of premiums in the second half, and $450mn in 2025....
...This part of the insurance industry has been hit by four consecutive years of outsized losses from extreme weather....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“The fact that insurance grew here as an industry and as a business, it means that there is so much history and expertise, experience, skills, knowhow that is fostered here in the UK . . . and I would, as...
...Questions over the dark fleet’s insurance are a long-standing industry concern, with doubts over the ability and willingness to cover the costs of a large spill such as the Exxon Valdez disaster or the Braer...
...Industry title Insurance Insider previously reported Aspen was planning a US IPO....
...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 rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Now the UK industry is lobbying for a light-touch regulatory regime to attract captive insurers. This is a test of the government’s commitment to support financial services....
...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....
...The chief executive of FTSE 100 group Admiral, one of the biggest UK car insurers, said its motor insurance prices had peaked, signalling the end of a surge in premiums across the industry that sent the...
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Employers’ association the CBI has proposed that employee assistance programmes, such as health insurance, be made a fully tax-free benefit, while the CBI and British Chambers of Commerce are calling for...
...David Furness, director of policy and delivery at the Independent Healthcare Providers Network, an industry body, said: “Nearly nine in 10 companies across the sector feel the market environment for private...
...The reforms are intended to unlock extra investment by UK insurers in domestic infrastructure but the industry has warned that a lack of investable projects could hinder these efforts to expand financing...
...A hard market, in industry parlance, is a period of rising prices where supply falls significantly behind demand....
...This has already occurred in home insurance relating to climate, with US states including Florida providing cover for homeowners who are unable to get it; the UK’s Flood Re is a joint government and industry...
...It had also seen some examples of companies paying out 70 per cent of the premiums in commission to third parties involved in selling the add-on insurance....
...The company left its guidance for 2024 unchanged. Shares in the group were down about 7 per cent on Wednesday....
...China’s live commerce industry experienced explosive growth at a time when most physical industries faced major challenges from China’s stringent Covid restrictions....
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