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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...It has financed projects including 316 rental homes in Bath and a joint loan with insurance group Generali for 65 homes for sale in Canary Wharf....
...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...
...development, according to government officials and the property tribunal....
...A significant part of the Signa group debt was provided by non-bank financial companies such as Dortmund-based insurer Signal Iduna, a midsized company with 12mn customers, mainly in health and life insurance...
...Creditors of the two most important companies in the bankrupt Signa property group are pushing to oust management and hand over control to independent auditors, over fears their interests are being sidelined...
...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...“Ajit’s achievements since joining Berkshire have been supported by a large cast of hugely-talented insurance executives in our various P/C [property-casualty] operations,” he wrote....
...I would hope that the US Department of Justice, Federal Trade Commission or Consumer Financial Protection Bureau might consider looking into how major insurance companies communicate on pricing and coverage...
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...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...
...Austin, Texas, which was red hot during the pandemic, is now in the throes of a property market crash, while prices in Albany, Providence and Hartford posted double-digit year-on-year gains....
...Continental European commercial property insurance prices rose at the start of the year for the 22nd consecutive quarter, according to an index from broker Marsh....
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...The ship’s lead liability insurer, Britannia P&I, said on Thursday it was “working closely with the vessel’s owner and manager and the relevant US authorities as part of the investigation into the casualty...
...Overall, property insurers paid out £4.9bn to households and businesses last year, with more than half of that to homeowners....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...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 a less-followed risk is adding to unease at companies offering life and health insurance: scientists’ warnings, and research findings, that a warming climate is causing an increasing number of excess...
...But if you own the property personally, and rent it to the company, then it is likely to qualify for only 50 per cent relief, whether or not you charge a market rent for its use....
...Poste Italiane has excess insurance capital and has hedge protection from interest rate volatility....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
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