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...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...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....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...Phoenix Group has bought a minority stake in London venture capital firm Hambro Perks as the UK’s largest savings and retirement business seeks to increase access to fast-growing private companies for its...
...Baroness Nicky Morgan, chair of the Investment Delivery Forum, which includes groups such as Aviva and Phoenix, said the next stage for insurers would be to start pilot investment projects with local and...
...Big share moves in Europe today include UK life insurance group Phoenix, Polish supermarket chain Dino and UK sportswear retailer JD Sports: Phoenix Group: Shares in the UK pensions and savings provider...
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...The company said that it “expects to have significant surplus cash at its holding company at the end of 2023, which creates further balance sheet optionality”....
...Much of Phoenix’s growth historically has come from acquisitions, adding closed books of life insurance business to its own operations....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...HOLD: Phoenix Group (PHNX) An indifferent set of results and an unfortunate private equity stake puts Phoenix insurance under pressure, writes Julian Hofmann....
...Premiums from its general insurance division, which includes car insurance, also grew....
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the final three months of last year, the 25th straight quarter of increases....
...MPs last year blamed regulatory foot-dragging for London losing out on $700mn of insurance-linked securities that went to Singapore....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the fourth quarter of 2023, the 25th consecutive quarter of rate increases....
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