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...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Grosvenor, the Duke of Westminster’s property company, is launching a £900mn lending business focused on residential development, as real estate investors opt for debt investments over the risk of buying...
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...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 housing department has applied to a property tribunal for an order to require companies in property tycoon John Christodoulou’s Yianis Group to contribute to fixing safety issues at the Canary Riverside...
...The bill will also extend leaseholders’ “right to manage” their property by hiring or firing property managers, according to a report in The Sunday Times....
...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!...
...Allstate’s 2Q underwriting results (as measured by its “combined ratio”) highlights what can happen when weather and economic conditions turn against property and casualty insurers....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...Andy Haigh Director of Climate Positive Solutions, Grosvenor Property UK, London W1, UK...
...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...
...Yet a series of creative financings led by Leiv Synnes, the chief executive parachuted in last year, have kept the company ahead of its creditors....
...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...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....
...Insurance companies are fleeing Florida as costs to insure property have increased dramatically....
...The transport companies were so busy moving art, they ran out of trucks.” If Germany wants this art back, “the law should be scrapped,” says Blau....
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...“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 failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...Bad loans in the property sector accounted for 18.6 per cent of Everbright’s total non-performing assets as of the end of 2023, up from 15.6 per cent a year earlier....
...During the recent annual meeting of China’s rubber-stamp parliament, Yi Gang, former head of the People’s Bank of China, cited the need for an insurance mechanism for presales, which he said would help the...
...of the property it owns, according to those people....
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