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...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...The Grenfell fire killed 72 people when it spread through the external cladding of a west London tower block....
...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....
...due to fire-safety issues....
...Established in 1879, the company employs more than 43,000 people selling general and life insurance products and boasts a near-$50bn equity market value....
...., March 18, 2024 — The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading...
...“While we don’t like increasing fees, it’s one step we are taking to return our company back to profitability and cover the increased costs of transporting bags.”...
...Bank of America has come under fire from environmentalists for changing its tune on Arctic drilling and coal power plants....
...A version of this article was first published by Nikkei Asia on March 11. ©2024 Nikkei Inc. All rights reserved....
...supply chain finance company had should pay out....
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...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 in as many years....
...The US company told the Financial Times there had been “no attack on or fire at the factory”, which is situated in the Brandenburg region south-east of Berlin and produces 6,000 cars a week....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...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...
...Both companies have previously had deals blocked....
...US health insurer Cigna has abandoned plans to merge with Humana, a blockbuster transaction that would have created a $140bn insurance giant, according to people familiar with the matter....
...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....
...On the first day, I was introduced to the Financial Times San Francisco bureau’s rapid-fire Slack conversations....
...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....
...Hartford Financial Services, which writes far fewer home insurance policies, is down just 5 per cent. Some states limit insurers’ ability to raise premiums....
...An estimated $30bn in fire liabilities forced Pacific Gas & Electric — California’s biggest utility — to file for bankruptcy protection in 2019....
...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....
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