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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....
...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...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....
...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for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...But this company has a strong foundation, strong liquidity and a strong deposit base, which gives me confidence for our path forward,” DiNello told analysts....
...Premiums from its general insurance division, which includes car insurance, also grew....
...The number of problem banks in the US has jumped 18 per cent, regulators warned, as New York Community Bank was stabilised by a $1bn capital raise led by former US Treasury secretary Steven Mnuchin....
...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....
...MPs last year blamed regulatory foot-dragging for London losing out on $700mn of insurance-linked securities that went to Singapore....
...The ABI called for more to be done to “support communities up and down the country to be more resilient” to the weather....
...Shares of New York Community Bancorp plunged on Wednesday after the lender that bought failed Signature Bank in the middle of last year’s regional banking turmoil cut its dividend to boost its capital and...
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...“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....
...US regional lender New York Community Bancorp has sought to reassure investors that it was still taking new deposits after its stock more than halved and it was downgraded to “junk” status by Moody’s....
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...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...
...New York Community Bank will raise more than $1bn in a deal led by the investment firm of former US Treasury secretary Steven Mnuchin, in an effort to shore up its finances and calm fears after weeks of...
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the fourth quarter of 2023, the 25th consecutive quarter of rate increases....
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