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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...The search for cash has complicated matters for WeWork’s creditors, who hold about $4bn of pre-petition debt....
...in the event of a disaster....
...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....
...One area of concern previously highlighted by the PRA was whether assets put in these collateral pools might become difficult to trade in a stressed market, and might not be able to match the relevant liabilities...
...“We are not going to comment on this matter save as to say that the [secretary of state] has taken such action without as much as requesting a meeting with the companies,” the company said....
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...But in a statement early on Thursday, the company expressed regret over the tragedy....
...“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....
...Workers at a Volkswagen plant in Chattanooga, Tennessee voted to form a union on Friday, the first victory in the United Auto Workers’ campaign to build on last year’s strike against the Detroit Three by...
...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 —...
...BlackRock has 10 per cent or more of the shares in 38 bank holding companies that are supervised by the US Federal Reserve or the Office of the Comptroller of the Currency but which own FDIC-supervised banks...
...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 attorney-general’s lawyers further claimed Knight Insurance sent “100 per cent of its retained insurance risk to affiliates in the Cayman Islands”, where “lax regulations” allowed the company to bolster...
...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...
...Shanghai-based Shimao, which has about $11.7bn of offshore debt, said on Monday that CCB (Asia) had filed a liquidation petition against it in Hong Kong over its failure to repay loans of $200mn....
...A similar phenomenon has occurred in the US, with insurance rates for urban drivers rising by 20 per cent last year....
...In a filing on Friday afternoon, the office of Letitia James — who brought the civil case that found Trump vastly overstated the value of his real estate empire — said there was only “vague, incomplete,...
...of a shift of ownership in the sector....
...Luckily, 2023 was a relatively mild year for hurricanes. That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...companies....
...Chinese walls between, for example, deal makers and equity analysts in investment banks have been fortified over the years by a battery of regulations, including Sarbanes-Oxley in the US....
...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....
...It would also mark the largest deal of the year between two companies with a combined enterprise value of about $140bn, including debt, in what has otherwise been a tepid mergers and acquisitions environment...
...Barclays operates a partnership model in the US market, running co-branded credit cards for 20 companies including The Gap, JetBlue Airways and the AARP....
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