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...Brindle’s partnership underwrites risks for New York-listed Fidelis Insurance, which floated last year and has a $2bn market value....
...in analysing complex risks....
...But co-founder and chief executive Daniel Schreiber told the Financial Times that the results, which included a small increase in its cash and investments, from $942mn at the end of the first half to $945mn...
...Mick McAteer, co-founder of the Financial Inclusion Centre think-tank and a former FCA board member, said the stress-test plan was “very welcome”....
...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...The restructuring was outlined in a memo last month from Lloyds’ chief risk officer Stephen Shelley, who said two-thirds of executives believed risk management was blocking progress while “less than half...
...Last month, California’s insurance commissioner announced a series of executive actions intended to stabilise the local market....
...Marc Lipschultz, co-chief executive, said the New York-based investment group was considering acquiring an infrastructure investor or a lender with a focus on originating securitised debts backed by assets...
...Geico and Berkshire Hathaway Specialty Insurance declined to comment. Gen Re did not respond to requests for comment....
...Although people have been creating new methods to “analyse and crunch numbers for decades”, said Amrit Santhirasenan, chief executive and co-founder of insurance start-up hyperexponential, “Excel has been...
...Executives are taking the risks seriously....
...Ping An has cut its stake in HSBC days after it voted against the re-election of the bank’s outgoing chief executive Noel Quinn....
...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”....
...Sources tell Eric and Ian there are three leading candidates, including Peter Eastwood, who runs the fast-growing Berkshire Hathaway Specialty Insurance unit, and Charlie Shamieh, chair of Gen Re....
...The London-listed insurance group said it had not yet set any reserves aside for the “emerging event” but it expected the net loss to be “moderate” due to its own risk-sharing arrangements....
...In Europe, Cinven’s problems have underscored the risks of the first model, they say. “All EU regulators are really down on PE fund owners right now,” said one insurance executive....
...Bhalla was a longtime insurance executive with previous stints at AIG and MetLife when he arrived at AEL in 2020....
...The attorney-general’s lawyers further claimed Knight Insurance sent “100 per cent of its retained insurance risk to affiliates in the Cayman Islands”, where “lax regulations” allowed the company to bolster...
...Last year, the market’s chief executive John Neal said he wanted to “get Monday back”, echoing other finance executives who are trying to increase workers’ time in the office....
...“All EU regulators are really down on PE fund owners right now,” one insurance executive told the FT....
...Jamie Dimon, JPMorgan’s chief executive, cautioned last month that fast-growing new financial products “often become an area of unexpected risk in the markets”....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Lloyd’s chief executive John Neal, who is leading a push to encourage outside investors, last year predicted insurance spending would double in the next decade because of worries about risks such as climate...
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