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...Case also highlighted artificial intelligence as a “very, very substantial” future risk for global business, as well as an opportunity for companies to innovate....
...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...
...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....
...Exxon’s total costs for cleaning up the Valdez spill in 1989, including damages claims and fines, were estimated to be as much as $7bn — or $17bn when adjusted for inflation....
...The filings also showed a series of dividends between Berkshire’s subsidiaries and National Indemnity, as well as the parent company itself....
...Buffett in recent years has talked about how he shares similar views on capital allocation to Abel, who rose through the company’s utility business and now has oversight over all of its non-insurance operations...
...In the days after the disaster, the chief executive of the Lloyd’s of London insurance market called on the various insurers, including Chubb as the lead insurer for the bridge, to pay out quickly and then...
...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...
...The steep rise in the cost of home insurance in the US and elsewhere can be traced, in part, to a move two years ago by P&C reinsurers to increase the price of cover against natural catastrophes and toughen...
...As insurance companies recover from recent losses, and inflation falls, there should be scope for more competitive pricing....
...The regulator also wants to make greater use of reinsurance markets, and aims to encourage investors to put more money into EU insurance-linked securities — such as catastrophe bonds, which pay out for certain...
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...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...
...The company then increased its position twice in 2018 and again two years later, becoming the bank’s largest shareholder. Its sale this week reduces the stake to 7.98 per cent from 8.01 per cent....
...The weather-related damage to homes — as opposed to other sources of claims such as fire, break-ins and water leaks — was more than a third higher than the previous year....
...Private health sales rose 41 per cent in 2023, as Aviva continued to benefit from strains on public healthcare. Premiums from its general insurance division, which includes car insurance, also grew....
...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....
...Last year’s results benefited from fewer hurricane claims as well as a steep rise in reinsurance prices. That is unlikely to continue, though Lloyd’s expects rates to level out rather than fall....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...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...
...“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....
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...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...
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