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...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...Home insurance is becoming increasingly unaffordable in areas such as California and Australia, as global warming has made storms, floods and wildfires more frequent and severe....
...The insurer is due to underwrite about £2bn of business within Lloyd’s this year and then grow that as a central part of owner Mitsui’s five-year strategy to reach £3bn within Lloyd’s and the so-called company...
...Lemonade, whose shares have fallen more than 70 per cent since its first day of trading in New York in 2020, provides a range of insurance including for homes, pets and cars to customers in the US and Europe...
...Tanker owners must be able to prove they hold adequate insurance against spills in order to be allowed to access ports and other facilities....
...The first-tier tribunal criticised a “complete lack of transparency with leaseholders regarding these commission payments” by the freehold owner and a management company, both Yianis Group subsidiaries....
...A string of big home insurers have halted new business in California, for example, in response to a surge in extreme weather losses....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...The company declined to comment....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...Profits jumped more than a third at the owner of Primark as the sprawling business returned to “some normality” in its first half following years of supply chain upheaval, sending its shares up almost a...
...The work-from-home trend made for a listless atmosphere at its City headquarters. Now numbers are back to nearly four-fifths of pre-pandemic levels, Tuesdays and Thursdays....
...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!...
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...The company said on Monday that it was “cautious on the overall market outlook for 2024 due to the lag between housing demand and home improvement demand”....
...The costs of core insurance products, such as home and motor insurance, have come under increased scrutiny amid a cost-of-living squeeze on UK households....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...This was offset by a positive contribution from other business lines, such as home insurance and motor rescue....
...This story has been amended to correct a reference to the owner of Eurovita....
...But development in the US’s most densely populated state is heavily concentrated near shores and rivers, putting homes and businesses at risk. That risk is not being factored in to insurance premiums....
...Car owners have been squeezed by a surge in insurance prices since their pandemic lows, as companies try to reflect a surge in claims costs....
...Rising premiums have lifted the fortunes of insurance brokers, who take home a proportion of the premium as commission....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
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