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...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...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....
...Under such schemes, governments share losses from natural disasters with the insurance sector, or create structures to pool risk....
...Zurich, one of Europe’s biggest insurers, struck a deal to sell its German legacy life insurance back book — including annuity and endowment products — to Viridium in 2022....
...Legacy capital managers do not want to be caught flat-footed. Take Blue Owl Capital’s recent acquisition of Kuvare Asset Management for $750mn, which eventually could reach $1bn....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Premiums from its general insurance division, which includes car insurance, also grew....
...But IAG can prove there is mileage yet in the legacy model....
...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....
...MPs last year blamed regulatory foot-dragging for London losing out on $700mn of insurance-linked securities that went to Singapore....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...“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....
...By 1739, when the South Sea Company stopped engaging in slave trading, the bounty held annuities issued by the company valued at £204,278 — equivalent to about £443mn today....
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...But this is not the legacy that will be kept for centuries; it is a legacy that is evaporating.”...
...Its turnover increased 20 per cent to a record £90mn in 2023, as the company benefited from stable demand from a customer base that could better withstand rising living costs....
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
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