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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...The chief executive of Aon, one of the world’s largest insurance brokers, has called for better modelling of climate risks, saying conditions in the property insurance market were “stressed” after a surge...
...Leaseholders at Canary Riverside won a rare and high-profile victory in late 2022 after a tribunal ruled they had been overcharged £1.6mn in purported insurance-related services and linked taxes....
...Allianz made €300mn in loans for Signa’s 2018 purchase of a high rise building in downtown Berlin, while Volkswohl-Bund, a medium-sized Dortmund-based insurer, racked up a €250mn exposure....
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...The lack of affordable property insurance has even driven some to move home....
...Its property and casualty insurance division weakened, posting an overall underwriting loss reflecting worse conditions for areas such as credit insurance, but its major life and health insurance division...
...Overall, property insurers paid out £4.9bn to households and businesses last year, with more than half of that to homeowners....
...It points to the high price of smartphones, the grip Apple has over app distribution and lack of access it provides to the iPhone operating system....
...property....
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...But in their letter, the property groups maintained the analysis “missed the larger and more significant point of just how important it is to be able to plan development on the basis that [relief] will be...
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...Lloyd’s of London has delivered its best underwriting performance since 2007 and signalled that commercial insurance prices are likely to stay high in the coming years....
...“My instinct is that this is an inflection point for property in New York: US economic growth is very good; unemployment is low; the stock market is up,” he says....
...Everest is a property casualty reinsurer and primary insurer based in Bermuda. It is very cheap on a forward price/earnings basis (6x) though a bit less so on price to book (1.4x)....
...Costs remain high relative to its corporate peers. But it is digitising and simplifying claims handling....
...cost of cover to a record high....
...“From our point of view it is a finely balanced renewal,” said David Flandro, head of industry analysis at insurance broker Howden’s reinsurance broking arm....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...And while demand for high quality properties remains high, the outlook for low quality buildings is grim....
...But analysts said the property market was on the mend....
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...“At some point if high vacancy rates hold, these property owners are not going to be able to service their debts, and banks are going to foreclose,” said João Granja, an accounting professor at the University...
...UK estate agents are at their most optimistic about near-term growth in house prices in almost two years, according to a closely watched survey published on Thursday that also points to more properties coming...
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