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...The Bank of England plans to stress test insurers on their exposure to reinsurers through a flurry of corporate pension deals, according to people familiar with the matter, as concerns mount about the risk...
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Moshiri has been battling to keep funding Everton’s new stadium since the pandemic battered the club’s finances and Russia’s war on Ukraine forced him to cut sponsorship deals with companies associated with...
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...The company conducted work to compare listing venues....
...Warrington’s report said the property was now being marketed to new buyers but that this would cause a “large impairment to the council”....
...The company reported increased revenue and record visitor numbers, with 1.3mn people coming to the estate each week on average....
...About 70 per cent of groups surveyed told the umbrella body for the voluntary sector in England they were considering no longer delivering public services....
...A string of big home insurers have halted new business in California, for example, in response to a surge in extreme weather losses....
...The challenge, he added, is that there has been “a shortage of new capital coming into the market.”...
...The cost of reinsuring properties in Turkey against natural catastrophes has doubled in areas devastated by last year’s earthquake, according to new figures, as the industry assessed the fallout from another...
...Oddly, it is not — yet — for the reinsurance industry. Insured losses of $108bn for 2023 were broadly in line with the five-year average....
...In the UK, the Bank of England has proposed limits for so-called funded reinsurance deals....
...While exposure to private equity has so far largely been a boon to bank balance sheets, higher interest rates and a worsening macroeconomic environment could pose new risks....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The Bank of England has also warned groups to more tightly manage the reinsurance deals they are doing to increase their capacity for bulk annuity transactions....
...The performance was helped by a quiet year for hurricane claims as well as a rapid run-up in reinsurance prices over the past 18 months....
...But there was a “still a little bit of a supply-demand imbalance” for reinsurance, he added, as new entrants to the sector have been slower than after previous price corrections....
...The public launch of Britain’s biggest new indoor arena has been delayed after an unfinished electrical system prompted concerns about safety....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...When insurance companies cede risk to reinsurers, they heavily scrutinise them either directly or via careful monitoring of their credit rating reports....
...England has the highest rates of alcohol consumption among school children, according to a study of more than 40 countries by the World Health Organization....
...“Ambulance and A&E delays can cost lives, staff are trying to mitigate safety risks day in and day out but care that was unthinkable a decade ago is at risk of becoming the new normal,” he said....
...“The UAE views data as the new oil,” the person said. “It realised that it had to find a new way to exist between the US and China because of US concerns about Chinese tech....
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