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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...“We are more in the first model, we are absolutely not in the second model.”...
...The group’s North American arm already has an established debt business. The aristocratic Grosvenor family has owned property in London for more than 300 years....
...The action, which accompanies orders against two other companies, marks the first move by the department Gove leads to use legal powers under the Building Safety Act....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...The company had built up €5bn in debt by the end of September, the majority of it during the first nine months of this year....
...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....
...“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....
...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....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
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...In reality, higher rates have helped property prices, because of the unique characteristics of the American mortgage market....
...This is a poorer position to be in, but if the company were to fold the property would be protected from creditors. Sometimes a number of partners in a business own the property privately....
...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...
...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....
...Including mortgage payments, mortgage insurance and property taxes, he pays $3,500 per month more today than what he spent on rent at the family’s last home....
...Companies: Brazil’s state-run oil company Petrobras is to release its first-quarter results after the market closes....
...Poste Italiane has excess insurance capital and has hedge protection from interest rate volatility....
...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...
...Blackstone has hired Dan Leiter as international head of the firm’s credit and insurance business. He previously worked for Morgan Stanley....
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...The squeeze on commissions is bad news for the 1.6mn Americans currently registered to work as real estate agents, as well as the companies that employ them....
...Short-term rates are popular in the UK for their low initial cost and the flexibility they allow for borrowers who foresee themselves flipping their first home to move up the property ladder....
...This means that if they face an unexpected medical expense, a sudden home repair or a rapid increase in property taxes and insurance, they have no safety net....
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