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...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...
...Nationwide, already the UK’s largest building society, has struck a preliminary agreement to buy Virgin Money, in a deal that would take it into business lending and strengthen its challenge to the big four...
...Yianis said that property tribunals had found that the two other companies were “accountable persons” under the act for the four residential buildings within the Canary Riverside development....
...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...
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...The figures from Nationwide — which put the average cost of a property at £261,142 — were worse than expected....
...Nationwide Building Society has announced a £2.9bn deal to acquire Virgin Money, two weeks after the companies agreed the initial terms of a tie-up designed to challenge the dominance of Britain’s biggest...
...’s largest building society....
...With no intention to convert to a public listed company, there is no requirement to consult Nationwide’s 3.7mn committed members....
...Nationwide Building Society has reached a preliminary agreement to buy Virgin Money for £2.9bn, in a deal that would create a more powerful challenger to the UK’s biggest banks....
...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....
...UK house prices rose more than expected in January, according to mortgage provider Nationwide, as easing mortgage rates helped to stabilise the property market....
...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....
...rates and the end of a government help scheme.Crosbie said the building society would welcome any government initiatives that could help first time buyers get on the property ladder in the Autumn Statement...
...Nationwide Building Society has agreed a £2.9bn deal to buy Virgin Money, formalising an agreement in principle reached this month....
...However the company had €2bn in free cash flow from operations last year, and the group views the purchase of key real estate assets as part of its long-term strategy....
...Continental European commercial property insurance prices rose at the start of the year for the 22nd consecutive quarter, according to an index from broker Marsh....
...Lloyd’s said the agreement with Chinese insurance company Ping An, which has owned the building for a decade, will allow it to continue its renovation of workspaces and make further refurbishments, including...
...Andy Haigh Director of Climate Positive Solutions, Grosvenor Property UK, London W1, UK...
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Blackstone has hired Dan Leiter as international head of the firm’s credit and insurance business. He previously worked for Morgan Stanley....
...Nationwide Building Society has reached a preliminary agreement to buy Virgin Money in a £2.9bn deal that would bolster its ability to challenge the UK’s big four banks....
...Prices rose 0.7 per cent from January, taking the average property price to £260,420....
...The lender, which had bought the failed Signature Bank during last year’s regional banking turmoil, said the expected losses were related to US office building loans....
...Its ill-fated 2009 takeover of Britannia Building Society during the financial crisis exposed it to a pile of bad loans and a £1.5bn capital shortfall....
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