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...Lloyds is two years in to a £4bn, five-year investment plan to diversify its income away from mortgages towards income streams less dependent on interest rate changes including wealth management and insurance...
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...Aspen is owned by private equity group Apollo and sells insurance and reinsurance through the Lloyd’s of London market as well as in Bermuda and the US....
...This is a test of the government’s commitment to support financial services. Lloyd’s may not get the attention its near-quarter share of City GDP deserves....
...He’s made a shit ton of money for the company.” Buffett’s fascination with the insurance industry dates back more than 70 years....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Lloyd’s said the agreement with Chinese insurance company Ping An, which has owned the building for a decade, will allow it to continue its renovation of workspaces and make further refurbishments, including...
...from state-owned insurance companies....
...wealth management and insurance....
...Cyber insurance is one of the fastest-growing markets as companies look for coverage following a surge in ransomware attacks....
...Robinson and other experts have likened the probe to the payment protection insurance scandal, which dates back to the 1990s when banks mis-sold insurance to millions of customers, leading banks to later...
...Both the Financial Conduct Authority and the Financial Ombudsman Service (FOS), which handles consumer complaints, have investigations under way....
...As the insurance market Lloyd’s of London points out, less costly but highly unpredictable events such as wildfires and extreme heatwaves bring bigger headaches....
...Volkswagen’s financial services arm in 2022 reported €5.5bn of earnings, with a profit margin of 14 per cent — higher than the carmaking parts of the company....
...Could ESG better account for a company’s climate governance?...
...For example, CetoAI will look to marry its services, which provide live data analytics regarding a ship’s systems, with an insurance policy covering the vessel....
...Insurer databases showed Dali had liability insurance through Britannia, one of a global group of protection and indemnity insurers that shares losses and are ultimately reinsured at Lloyd’s of London....
...The UK’s market is centred on Lloyd’s of London, which is a hub for negotiation of these policies, while Switzerland is host to big insurance and reinsurance groups such as Zurich and Swiss Re....
...The investigation follows two rulings in favour of consumers by the Financial Ombudsman Service, an official body that settles disputes between companies and their customers....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...The deal would also be a rare acquisition of a listed company by a mutual, which is owned by its more than 16mn members who have a current account, mortgage or savings with the company....
...The FCA’s probe has echoes of the payment protection insurance scandal, which eventually led to banks paying out more than £50bn....
...The government said that Lloyd’s of London, the global insurance market place, would not fall within the scope of the regime....
...Lloyd’s of London, the insurance market, has warned that extreme weather will push up insurance premiums....
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