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...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...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....
...The Grenfell fire killed 72 people when it spread through the external cladding of a west London tower block....
...due to fire-safety issues....
...He’s made a shit ton of money for the company.” Buffett’s fascination with the insurance industry dates back more than 70 years....
...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Airbus has committed to paying for 400,000 tonnes of carbon that has been directly captured from the atmosphere by a subsidiary of US company Occidental Petroleum, called 1PointFive....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...Hess; Diamondback Energy and Endeavor Energy; Occidental and CrownRock; and Chesapeake Energy and Southwestern Energy....
...Last year it raised $4.5bn towards an eventual $8bn goal from global pension funds, insurance companies and sovereign wealth funds....
...That helped mitigate any huge losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...In the US, insurers that have taken on exposure to the private equity firm 777 Partners are under fire from regulators and rating agencies for potentially excessive risk-taking....
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...Buffett in recent years has talked about how he shares similar views on capital allocation to Abel, who rose through the company’s utility business and now has oversight over all of its non-insurance operations...
...The Leningrad region governor said there were no casualties as a result of the Ust-Luga fire and all workers had been evacuated....
...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...
...An insurance company “needs to have the longer-term alignment”, Borean said, adding that each situation needs to be viewed on a “case-by-case basis”....
...“Fire fighting [is] very difficult” on modern car carriers, said Richard Gunn, a casualty lawyer at law firm Reed Smith, who added that ships tended to be built with several decks that were built as low...
...When an AI-powered doctor tells you that you’re just being hysterical, the AI-powered insurance company is unlikely to disagree....
...Hankey may be playing with fire again....
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