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...But after a fierce and public debate over the takeover, and whether the terms justified a loss of LV’s mutual status, members voted to kill it. Today, mutuals are back on the front foot....
...The chief executive of Aon, one of the world’s largest insurance brokers, has called for better modelling of climate risks, saying conditions in the property insurance market were “stressed” after a surge...
...Lloyd’s of London has attracted its biggest syndicate backed by individuals, or “Names”, since the early 1990s, as the insurance market looks to rebuild a base among private investors after its best performance...
...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....
...Mutuals are run for their members. It’s high time the sector got the respect it deserves. Cara Spinks Head of Insurance Consulting, OAC, London EC2, UK...
...In addition, she pointed to the rise of new distribution channels such as online brokerages and neobrokers that are disrupting the dominant bank and insurance company distribution systems in Europe....
...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 firm’s ETFs, the first of which launched in 2013, would “probably cannibalise some of the mutual funds”, Johnson said, but mutual funds would remain popular in the retirement channel, she added....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...A few pages later, the Oracle of Omaha seemed to contradict himself. Berkshire Hathaway Energy is one of the largest power utilities in America....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Other investors shouldn’t try to follow the Oracle of Omaha now....
...Coventry is the UK’s third-largest mutual lender with about 2mn members and assets of £62.5bn....
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...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....
...MPs last year blamed regulatory foot-dragging for London losing out on $700mn of insurance-linked securities that went to Singapore....
...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....
...shares of the proposed ETF, clients would need to have a brokerage account upon the date of the mutual fund’s potential conversion, Pimco said in the filing....
...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 —...
...I worked for some years for a mutual insurance company that is now probably the best capitalised insurer in the UK....
...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....
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