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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....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...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....
...Coventry is the UK’s third-largest mutual lender with about 2mn members and assets of £62.5bn....
...The Coventry Building Society has about 2mn members across the UK and reported assets of £61.6bn in its latest financial statement....
...Under such schemes, governments share losses from natural disasters with the insurance sector, or create structures to pool risk....
...Sky News first reported the Coventry bid....
...We should be talking about the fact we’ve cut national insurance twice.”...
...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”....
...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....
...Premiums from its general insurance division, which includes car insurance, also grew....
...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....
...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....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...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...
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...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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