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...Lloyds Banking Group is to be the lead investor in a £62mn fund that will back community development finance institutions, becoming the UK’s first high street bank to support the not-for-profit lenders that...
...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....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...He hailed a recovery in the unit, which posted an underwriting profit in 2022 for the first time since its takeover of the group....
...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....
...A relatively quiet 2023 for hurricanes meant they were able to post bumper profits. Reinsurers “need to feel that it is not just about selling insurance and making a profit....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...Aviva is re-entering Lloyd’s of London for the first time in more than two decades to boost its exposure to the thriving commercial insurance market....
...Uber has reported its first annual operating profit, marking an “inflection point” in the tumultuous history of the ride-sharing company and sending its shares to fresh highs....
...UK car insurance prices fell at the start of 2024 in the first quarter-on-quarter drop in more than two years, signalling some relief for households after costs hit an all-time high....
...The company set a new target to generate £2bn of operating profit by 2026, and new guidance that the cash cost of its dividend should grow by a mid-single-digit percentage....
...Its underwriting profit reached £5.9bn, up from £2.6bn....
...Profits at Lloyds Banking Group fell 28 per cent in the first quarter, as a windfall from higher interest rates for the UK high street bank continued to wane....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...More often, charters are revised so that the foundation keeps control while the company raises extra capital through non-voting shares....
...Trading and investment banking helped lift Deutsche Bank to its highest quarterly profits in 11 years in the first three months of 2024, as global dealmaking started to pick up after a two-year long slump...
...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...
...The FTSE 250 company, which runs 39 hospitals as well as clinics and medical centres, said it was also benefiting from a strong rebound in corporate private medical insurance as more employers take out policies...
...L&G posted an operating profit of £1.7bn, broadly flat on the previous year but below analysts’ consensus estimates....
...As a result, homes built in flood zones across the US are overvalued by as much as $237bn, according to research by Jesse Gourevitch from sustainability non-profit the Environmental Defense Fund....
...“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....
...It helps that the company also posted its strongest first-half cash generation since 2017. But in the short term, top-line growth is well out of reach....
...But Rachel Dempsey, an attorney at Towards Justice, a non-profit law firm representing employees, said in a statement that non-compete agreements “keep workers trapped at jobs with low wages and poor working...
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