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...The chief executive of Aon, one of the world’s largest insurance brokers, has called for better modelling of climate risks, saying conditions in the property insurance market were “stressed” after a surge...
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...It has financed projects including 316 rental homes in Bath and a joint loan with insurance group Generali for 65 homes for sale in Canary Wharf....
...development, according to government officials and the property tribunal....
...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...German insurers including Munich Re and Allianz have amassed more than €3bn of exposure to the struggling property empire owned by real estate billionaire René Benko....
...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...“Ajit’s achievements since joining Berkshire have been supported by a large cast of hugely-talented insurance executives in our various P/C [property-casualty] operations,” he wrote....
...Its property and casualty insurance division weakened, posting an overall underwriting loss reflecting worse conditions for areas such as credit insurance, but its major life and health insurance division...
...From their stocks I replaced some casualties, appreciating their advice to cut off flowers on young, newly bought plants in order to encourage them to bush out more widely....
...The lack of affordable property insurance has even driven some to move home....
...The ship’s lead liability insurer, Britannia P&I, said on Thursday it was “working closely with the vessel’s owner and manager and the relevant US authorities as part of the investigation into the casualty...
...Lloyd’s is the world’s oldest insurance marketplace, and its chief executive John Neal told me that the home insurance market, particularly in coastal America, “has reached a tipping point”....
...Continental European commercial property insurance prices rose at the start of the year for the 22nd consecutive quarter, according to an index from broker Marsh....
...property....
...In reality, higher rates have helped property prices, because of the unique characteristics of the American mortgage market....
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...Overall, property insurers paid out £4.9bn to households and businesses last year, with more than half of that to homeowners....
...Nicolas Jeanmart, head of personal and general insurance at Insurance Europe, which represents EU insurers, says: “The focus of insurers has so far been less on public health but rather on damages to properties...
...But development in the US’s most densely populated state is heavily concentrated near shores and rivers, putting homes and businesses at risk. That risk is not being factored in to insurance premiums....
...A recently announced partnership between Google Cloud and Lloyd’s insurer Hiscox trialled automated underwriting on a property sabotage and terrorism policy....
...Property and casualty insurers may comfort themselves that their exposure to climate risk is limited by annual contracts — an industry standard that enables them to reprice, limit or completely withdraw...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
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