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...Names were the historical basis of the Lloyd’s market, but also at the centre of one of its biggest controversies....
...This part of the insurance industry has been hit by four consecutive years of outsized losses from extreme weather....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...The number of tankers shipping Russian oil without western insurance has risen since the introduction of the cap....
...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...
...Lloyd’s of London — the world’s oldest insurance market — acquired a reputation for inefficiency, complacency and boorish behaviour. Yet last year’s performance was the best for 16 years....
...“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....
...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 company set a new target to generate £2bn of operating profit by 2026, and new guidance that the cash cost of its dividend should grow by a mid-single-digit percentage....
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the final three months of last year, the 25th straight quarter of increases....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...Speaking to the Financial Times, David Howden, founder and chief executive of insurance and reinsurance broker Howden, predicted the price of business cover would flatten this year as the supply of insurance...
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...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 had also seen some examples of companies paying out 70 per cent of the premiums in commission to third parties involved in selling the add-on insurance....
...The post-pandemic surge in inflation for everything from energy to groceries is easing, but the cost of insurance continues to grow: insurers complain of having to pay far more to repair vehicles and compensate...
...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....
...most of the rise in transportation-services costs: car insurance!...
...However, critics of the project have said it rewarded investors at the expense of taxpayers and customers....
...Motorists were quoted an average of £995 for annual policies in the final quarter of 2023, an increase of 58 per cent on the year before, comparison site Confused.com and insurance broker Willis Towers Watson...
...The company’s Solvency II coverage ratio, the amount of regulatory capital it holds as a percentage of the minimum required, sat at 224 per cent at the end of the year, above consensus estimates of 217 per...
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