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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...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...
...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...
...With no intention to convert to a public listed company, there is no requirement to consult Nationwide’s 3.7mn committed members....
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...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 UK-wide research from property data provider TwentyCi showed 86,000 sales were agreed in January, which was 23 per cent above the level in January 2023, and 0.9 per cent above the 2019 month....
...He estimated nationwide revenues from land sales could fall to Rmb2.9tn in 2024, compared with Rmb3.2tn in 2023 and Rmb4trn in 2022....
...“Nationwide is a good home for it and will benefit customers.”...
...Economists polled by Reuters had expected 0.3 per cent month on month and 0.7 per cent annual increases. Prices rose 0.7 per cent from January, taking the average property price to £260,420....
...The company’s results came alongside data from mortgage provider Nationwide on Friday, showing UK house prices rose 1.2 per cent year on year in February, a bigger than expected jump and the first annual...
...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...
...Last week, lender Nationwide reported that house prices rose 0.7 per cent month on month in January. Both Nationwide and Halifax base their house price indices on the mortgages they approve....
...UK house prices rose unexpectedly last month, supported by a lack of properties for sale, according to the mortgage provider Nationwide....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...This boosted mortgage approvals and led to a rise in the house price indices of Halifax and Nationwide....
...The mortgage provider’s data came a week after lender Nationwide reported a stronger than expected 0.7 per cent month-on-month rise in house prices in January....
...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...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...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...
...Including mortgage payments, mortgage insurance and property taxes, he pays $3,500 per month more today than what he spent on rent at the family’s last home....
...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....
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
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