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...The Grenfell fire killed 72 people when it spread through the external cladding of a west London tower block....
...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....
...due to fire-safety issues....
...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
...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....
...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....
...the company in as many years....
...News round-up China hits out at US push to ban TikTok as Steven Mnuchin plots bid (FT) Nationwide has a lot to lose in its unwise bet on Virgin Money (FT) Joe Biden declares opposition to Nippon Steel...
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...supply chain finance company had should pay out....
...London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies...
...By contrast, the amount paid in claims during the quarter was up 11 per cent, as insurers paid out to cover fire, theft, weather, water leaks, and other events....
...Insurance companies have pushed up the costs of protecting homes, cars and valued possessions from loss and damage....
...Rescue operations were being carried out “on the surface of the water, subsurface” and “on the deck of the ship itself”, said Baltimore fire department chief James Wallace....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...In response, the government wants to raise the annual nationwide cap on new medical school attendees from 3,058 to 5,058 in 2025, part of a plan to add 10,000 doctors to the workforce by 2035....
...The company’s interim payout dipped. Admiral shares should yield just over 5 per cent in 2024, according to Visible Alpha consensus....
...The International Union of Marine Insurance said in September that although fires caused by these vehicles were not more common or intense than those caused by traditional cars, new firefighting techniques...
...After insurance payouts, the French group will book a non-recurring charge of $213mn before tax in the fourth quarter of 2023....
...This evokes memories of the long-running, and very expensive, payment protection insurance scandal. Any lenders funding motor finance should worry about how this problem could mushroom....
...While the government has repealed controversial rules to cap bankers’ bonuses, the reforms have failed to stem an exodus of companies from the London Stock Exchange....
...He estimated nationwide revenues from land sales could fall to Rmb2.9tn in 2024, compared with Rmb3.2tn in 2023 and Rmb4trn in 2022....
...“The annuity is an insurance policy against outliving one’s assets,” said Brendan Curran, SSGA’s US head of defined contribution....
...The British Insurance Brokers’ Association trade body backed Blanc’s call for a review of the cap....
...But it’s insurance — you should pay for insurance, you shouldn’t get paid for it. Nassim would say, well, there is a fair amount of alpha to how you construct the options strategies....
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