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...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...
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...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 failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...More than a dozen German insurance companies filed a petition with Vienna’s district court last week, a copy of which was seen by the FT, demanding an end to Signa Prime’s self-administration....
...of the property it owns, according to those people....
...With no intention to convert to a public listed company, there is no requirement to consult Nationwide’s 3.7mn committed members....
...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....
...Andy Haigh Director of Climate Positive Solutions, Grosvenor Property UK, London W1, UK...
...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....
...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....
...He estimated nationwide revenues from land sales could fall to Rmb2.9tn in 2024, compared with Rmb3.2tn in 2023 and Rmb4trn in 2022....
...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....
...The property site forecasts that 1.1mn homes will be sold in 2024, up 10 per cent on last year’s total....
...UK house prices rose unexpectedly last month, supported by a lack of properties for sale, according to the mortgage provider Nationwide....
...Prices rose 0.7 per cent from January, taking the average property price to £260,420....
...Insurance companies are fleeing Florida as costs to insure property have increased dramatically....
...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....
...The company also faces a threat from the roughly £100mn acquisition of smaller rival property search platform OnTheMarket by the well-funded US property data group CoStar....
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...Munich’s state prosecutor is looking into allegations of money laundering at the Signa Group, René Benko’s collapsed luxury property empire....
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