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...More than a dozen German insurance companies filed a petition with Vienna’s district court last week, a copy of which was seen by the FT, demanding an end to Signa Prime’s self-administration....
...The Grenfell fire killed 72 people when it spread through the external cladding of a west London tower block....
...due to fire-safety issues....
...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Bank of America has come under fire from environmentalists for changing its tune on Arctic drilling and coal power plants....
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...Hankey may be playing with fire again....
...Next, the shadow banking system — an assortment of financial institutions ranging from hedge funds to insurance companies — still lacks the liquidity to weather price adjustments, according to the FSB....
...supply chain finance company had should pay out....
...the company in as many years....
...London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies...
...By contrast, the amount paid in claims during the quarter was up 11 per cent, as insurers paid out to cover fire, theft, weather, water leaks, and other events....
...Insurance companies have pushed up the costs of protecting homes, cars and valued possessions from loss and damage....
...Hartford Financial Services, which writes far fewer home insurance policies, is down just 5 per cent. Some states limit insurers’ ability to raise premiums....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...The company’s interim payout dipped. Admiral shares should yield just over 5 per cent in 2024, according to Visible Alpha consensus....
...The International Union of Marine Insurance said in September that although fires caused by these vehicles were not more common or intense than those caused by traditional cars, new firefighting techniques...
...The PLD impact assessment estimated annual payouts from the reformed system could reach €217mn and insurance costs for companies rise around 10 per cent....
...But his rapid-fire deals since 2020 have also shown Saadé can take onlookers by surprise....
...This evokes memories of the long-running, and very expensive, payment protection insurance scandal. Any lenders funding motor finance should worry about how this problem could mushroom....
...Rescue operations were being carried out “on the surface of the water, subsurface” and “on the deck of the ship itself”, said Baltimore fire department chief James Wallace....
...While the government has repealed controversial rules to cap bankers’ bonuses, the reforms have failed to stem an exodus of companies from the London Stock Exchange....
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