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...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Royal London, the life insurer which had its own role in the events at LV, earlier this month said it would enter the corporate pensions market, where companies offload their defined benefit pension schemes...
...Grosvenor, the Duke of Westminster’s property company, is launching a £900mn lending business focused on residential development, as real estate investors opt for debt investments over the risk of buying...
...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...
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Vanke, one of China’s leading property developers, said it would cut its debt by $14bn after a nationwide slowdown in the sector hit its sales and saw its profits fall by almost half in 2023....
...Under the terms of the transaction, Nationwide will pay 218p in cash for each share of Virgin Money and a final dividend of 2p, the companies said on Thursday....
...UK house prices rose more than expected in January, according to mortgage provider Nationwide, as easing mortgage rates helped to stabilise the property market....
...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....
...With no intention to convert to a public listed company, there is no requirement to consult Nationwide’s 3.7mn committed members....
...The mutual will pay 220p per share for the challenger bank, in a combination that the companies say will create the second-largest provider of mortgages and savings in the UK....
...Andy Haigh Director of Climate Positive Solutions, Grosvenor Property UK, London W1, UK...
...While recognising the hurdles, people familiar with Nationwide’s approach say that its mutual status affords it greater time to pull off the integration than if it were a listed company beholden to shareholders...
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...A number of listed UK companies seem priced for a quick sale. On Thursday, Britain’s largest private building society Nationwide announced it had provisionally agreed a takeover of Virgin Money....
...The Nationwide house price index provides a timely indicator of the property market, which affects the wider economy via house-related spending....
...Yet a series of creative financings led by Leiv Synnes, the chief executive parachuted in last year, have kept the company ahead of its creditors....
...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...House prices fell across all UK regions for the first time since 2009 in the three months to September as high mortgage rates hit the property market, according to Nationwide....
...Prices rose 0.7 per cent from January, taking the average property price to £260,420....
...UK house prices rose unexpectedly last month, supported by a lack of properties for sale, according to the mortgage provider Nationwide....
...Insurance companies are fleeing Florida as costs to insure property have increased dramatically....
...the company in as many years....
...He estimated nationwide revenues from land sales could fall to Rmb2.9tn in 2024, compared with Rmb3.2tn in 2023 and Rmb4trn in 2022....
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