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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Signa Development was the arm of the Signa conglomerate responsible for developing lucrative properties and selling them quickly. It was also the most cash-generative part of the Signa Group....
...A significant part of the Signa group debt was provided by non-bank financial companies such as Dortmund-based insurer Signal Iduna, a midsized company with 12mn customers, mainly in health and life insurance...
...Creditors of the two most important companies in the bankrupt Signa property group are pushing to oust management and hand over control to independent auditors, over fears their interests are being sidelined...
...Five UK insurance broking groups have signed up to a pledge to stop sharing buildings insurance commissions with landlords and to cap their own fees, in a move the government said would significantly reduce...
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...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...
...But this model has been shaken by construction delays at failed groups such as Evergrande, leading homebuyers to question whether they will ever receive their properties and discouraging new land purchases...
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...Overall, the group posted a €5.1bn operating profit for the period, up 17 per cent on the same period last year, with profitability improving at its property and casualty division despite losses from European...
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...and workplace insurance products such as pensions....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...The idea, said Frank Vivier, Richemont’s chief of transformation, was to move beyond the analogue era where insurance companies, watchmakers and police communicated little and victims were left in the dark...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...under pensions, and insurance policies....
...Property and casualty insurers may comfort themselves that their exposure to climate risk is limited by annual contracts — an industry standard that enables them to reprice, limit or completely withdraw...
...The fallout has already spread to other sectors including local insurance groups. The sector’s shares fell on the back of investors’ fears about their potential exposure....
...But her decision came against a backdrop of sharp rises in removals costs — by 38 per cent over the past five years, according to Admiral, the insurance group....
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...We talked a little bit about these sorts of stocks last week, and we mentioned our first pick, Everest Group, then. Everest is a property casualty reinsurer and primary insurer based in Bermuda....
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Privately controlled shell companies linked to the Laura Foundation invested in developments alongside other Signa entities, and Signa Holding funded personal properties used by the tycoon and his private...
...Stephen Kennedy, director at pricing specialists Pearson Ham Group, said there was “heightened anticipation of the potential ramifications of Storm Henk on UK home insurance premiums”....
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