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...Lloyd’s of London has attracted its biggest syndicate backed by individuals, or “Names”, since the early 1990s, as the insurance market looks to rebuild a base among private investors after its best performance...
...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...
...According to the lawsuit, Zurich agreed to indemnify Greensill Bank in respect of certain losses from October 2018 to March 2021....
...Of this, $2.9bn was invested in entities related to 777, according to a notice to all state insurance regulators on Thursday....
...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 —...
...Insurance group Zurich has accused financier Lex Greensill, steel magnate Sanjeev Gupta and certain of their companies of a “conspiracy” to deceive its underwriters and create sham debts....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...MPs last year blamed regulatory foot-dragging for London losing out on $700mn of insurance-linked securities that went to Singapore....
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the final three months of last year, the 25th straight quarter of increases....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...“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....
...Rising commercial insurance prices also lifted rival insurance group Zurich, which reported on Thursday a record adjusted operating profit of $7.4bn, topping analysts’ expectations....
...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...Portfolio insurance — a dynamic hedging strategy based on stop losses which was designed to let pension funds hold a higher equity allocation ‘safely’— was deemed the villain of the 1987 crash....
...Earlier this week, Knight Insurance Group, one of more than a handful of companies that make up Hankey’s financial empire, put up a $175mn bond for Donald Trump, an amount the former president had to post...
...The attorney-general’s office added Knight’s management had been “found by federal authorities to have operated affiliated companies within KSIC’s holding company structure in violation of federal law on...
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...But it seemed a chance worth taking: according to the US Federal Emergency Management Agency, the risk of severe flooding was only 1 per cent a year. Five years later, Hurricane Ida hit....
...Porticoes Capital will seek to take over banks closed by the Federal Deposit Insurance Corporation, the US regulator, according to an official filing....
...Most bank mergers need approval from all three of the US federal bank regulators: the FDIC, the Federal Reserve and the Office of the Comptroller of the Currency....
...The writer is a former chair of the US Federal Deposit Insurance Corporation and a senior adviser to the Systemic Risk Council Thoughtful shoppers distinguish between best price and best value....
...Results at BofA, like its large competitors, were also dragged down by costs tied to last year’s regional banking crisis after the Federal Deposit Insurance Corp imposed another round of fees on the nation...
...Lloyd’s of London and Arch Insurance are listed as representative defendants on behalf of the multiple insurers on the policies....
...the Federal Deposit Insurance Corporation has warned....
...Australia’s federal court is expected to start formal proceedings on a series of insurance claims from Greensill creditors in the coming months....
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