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...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...It is continuing to provide cover to ships transiting the Red Sea, for which insurance rates have jumped as the Houthi rebel group has attacked commercial ships....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...The cache of shipping files, seen by the Financial Times and the Danish media group Danwatch, reveals a number of Russian vessels travelling from the Baltic are relying on insurance that can be easily voided...
...Earlier this year, US insurance group A-Cap said it would attempt to take back control of assets ceded to 777 Re after the reinsurer had its credit rating downgraded, and US and Bermuda regulators have been...
...The ship’s liability insurance is provided in the first instance by Britannia P&I, part of a global group of liability insurers that share their losses between themselves and $3bn worth of reinsurance....
...Scott Walker, chief executive of trade group GB Potatoes, said six years ago potato farmers produced 6mn tonnes of the vegetable each year but “now we’re looking at 4mn tonnes”....
...HSBC has also axed a string of international businesses deemed non-core to the Asia-focused group, including Canada, French retail banking and Argentina....
...“The large capital base of National Indemnity and the broader Berkshire allows the group to take on more investment risk than is typical for insurance companies,” said Bruce Ballentine, senior credit officer...
...The price rises have sparked concern among insurance buyers and consumer groups....
...Fuad Mohammed Abubakar, head of the Ghana Cocoa Marketing Company, said he was not worried. “Farmers in Ecuador are producing near-optimal yield levels,” he said....
...The chief executive of FTSE 100 group Admiral, one of the biggest UK car insurers, said its motor insurance prices had peaked, signalling the end of a surge in premiums across the industry that sent the...
...“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....
...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....
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...The FTSE 100 group reported record pre-tax profits of $1.25bn last year and announced a $325mn share buyback....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...Total returns for the group’s shares have underperformed the Stoxx 600 insurance sector by a third over the past three years....
...Aviva said Lloyd’s, a centuries-old market selling specialist insurance and reinsurance covering everything from cyber attacks to hurricanes, was a “major source of untapped growth” for the FTSE 100 group...
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Howden said the progress of his group and others such as US-listed rival Gallagher had led to a broadening of competition in the highest reaches of insurance broking, almost three years after US regulators...
...Representatives of agricultural groups from across central and eastern Europe met this week to plan more protests....
...But a less-followed risk is adding to unease at companies offering life and health insurance: scientists’ warnings, and research findings, that a warming climate is causing an increasing number of excess...
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