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...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...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...
...“If there’s a spill, voters will demand to know why their governments didn’t do more.”...
...This year, the company will write around £2bn of business within Lloyd’s itself....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“If you do that, you will, in the end, lose trust and lose your reason to be there.”...
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...This month’s £242mn purchase of the Probitas syndicate will allow it to tap into what it said were the many brokers that prefer to place business via the Lloyd’s market....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...It is “agnostic of location”, one senior insurance figure in the UK said. “[Private equity owners] will pop up in any jurisdiction, they will chance their arm.”...
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the fourth quarter of 2023, the 25th consecutive quarter of rate increases....
...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...
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...The institutions will now take it in turn to display it every five years. Such shared ownership may become more common....
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...The area of private medical insurance that has seen the strongest growth has been in the number of people taking out personal cover, according to a survey by Statista Consumer Insights, a research company...
...It would be preferable if I could store my personal data and port it myself between insurers, rather than it being secured (at best) in one company’s database....
...This was likely to “push into pricing for 2024”, he added, though how significantly will depend on underwriters’ judgment as to whether the heightened storm activity requires the longer-term trend to be...
...The Belgian company reinforced the idea that this is a cut-price, opportunistic bid, with a second cash-and-shares proposal of about 239p per share....
...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....
...Indeed, UniCredit will probably buy back and consolidate its insurance businesses, at present held within joint ventures with insurance companies....
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