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...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...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!...
...Allstate’s holding company just caught its second credit downgrade to BBB+, three tiers above junk, this time from S&P Ratings....
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...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....
...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...
...“They may know little about decorative arts or archival material so important items in these categories often escape, while quite unimportant paintings are routinely blocked.”...
...California last month struck a deal with insurance companies to continue writing policies for property in disaster-prone areas, after big US names such as State Farm and Allstate stopped issuing any new...
...Indeed, UniCredit will probably buy back and consolidate its insurance businesses, at present held within joint ventures with insurance companies....
...Shares of companies with large auto-insurance businesses — ones that trade without the protection of Warren Buffett’s imprimatur, at least — have started to reflect those issues....
...This brings us back to my little black box. A teenager who works in a logistics centre must pay a lot for insurance even if he is a skilled and careful driver....
...The Blue Owl deal is a little trickier than meets the eye. Apart from the investment manager, Kuvare also sells annuities. Blue Owl will make a separate $250mn injection into that annuities vehicle....
...Global reinsurers have little exposure to lower intensity storms. But these severe convective storms (or SCS) are bad news for buyers of home insurance....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...A fondness for European defence stocks has been a somewhat oddball hobby for most of the last decade or two, but like V-neck jumpers, the sector is firmly back in fashion....
...But there was a “still a little bit of a supply-demand imbalance” for reinsurance, he added, as new entrants to the sector have been slower than after previous price corrections....
...The company said the head of its insurance operations, Gilles Dellaert, would lead the combined unit....
...Although the decisions by US insurers such as Allstate and State Farm to stop writing homeowners insurance in California may appear unduly harsh, they do serve to make the hazard risk explicit (“What happens...
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...Those with the most exposure to home insurance have suffered more. Shares in Allstate, the country’s second-biggest home insurer by premium volume, have fallen by a fifth....
...Hunt also adopted Labour’s idea of extending a windfall tax on oil and gas companies, drawing criticism from senior Scottish Tory MPs, including energy minister Andrew Bowie....
...“There have been so many geopolitical shocks in recent years . . . people are a little bit more desensitised,” he said....
...This is what happened when the FDIC auctioned off First Republic last year, little more than a month after the collapse of Silicon Valley Bank....
...companies.”...
...at the V&A....
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