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The sixth annual ranking of companies in the region with the highest growth. Health tech businesses thrive post-pandemic even as VC funding drops. Plus: Singapore draws in start-ups; new models of corporate success in Japan; India’s EV expansion
...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...The market has been trying to make its reporting and financial frameworks more user-friendly to attract individual investors....
...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...
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...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....
...equity and venture capital investment in India’s health and pharmaceutical sector hit a record of about $5.5bn in 2023, a 25 per cent jump on the previous year, according to a report published by Bain & Company...
...These low-profile groups allow life insurers — providers of annuities and other long-term financial products — to reinsure risks such as longevity....
...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...
...Last month, Chubb’s chief executive Evan Greenberg told analysts that the company’s “exposure is within what we would contemplate and there’s nothing outsize to us”....
...According to filings with insurance regulators reviewed by the Financial Times, the unit ultimately bears much of the risk that individual Berkshire insurance subsidiaries take....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...“All actors need to move,” she told the Financial Times....
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...“HSBC is our long-term financial investment,” Ping An said in a statement on Friday. “The bank has maintained unique competitive advantage in Asia. We are confident of its long-term development.”...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...“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....
...Apollo-backed Athora has terminated an agreement to buy a €19bn book of German life insurance business from Axa, citing “significant changes in financial market conditions” for a decision both sides said...
...It is a sign of Japan’s heavy investment in Australia, which has stretched far beyond the “stubby” beer bottle into renewable energy, finance, software and other consumer-focused areas such as insurance,...
...But he insisted alternative investment strategies were crucial for the sector’s financial future. “Without private assets, insurance cannot work.”...
...This is a test of the government’s commitment to support financial services. Lloyd’s may not get the attention its near-quarter share of City GDP deserves....
...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...
...“Some insurers were quite heavily hit by large losses, which speaks for our risk-taking,” said Lloyd’s chief financial officer Burkhard Keese....
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