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...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...It has financed projects including 316 rental homes in Bath and a joint loan with insurance group Generali for 65 homes for sale in Canary Wharf....
...Leaseholders pay towards insurance policies that cover the whole building, but typically have no control over how that policy is chosen or the level of commission shared with brokers and freeholders....
...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...
...German insurers including Munich Re and Allianz have amassed more than €3bn of exposure to the struggling property empire owned by real estate billionaire René Benko....
...: appointees of Austrian property tycoon René Benko and his co-shareholders....
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...The ship’s lead liability insurer, Britannia P&I, said on Thursday it was “working closely with the vessel’s owner and manager and the relevant US authorities as part of the investigation into the casualty...
...Its property and casualty insurance division weakened, posting an overall underwriting loss reflecting worse conditions for areas such as credit insurance, but its major life and health insurance division...
...But development in the US’s most densely populated state is heavily concentrated near shores and rivers, putting homes and businesses at risk. That risk is not being factored in to insurance premiums....
...Austin, Texas, which was red hot during the pandemic, is now in the throes of a property market crash, while prices in Albany, Providence and Hartford posted double-digit year-on-year gains....
...Your Big Read on the home insurance affordability crisis (February 14) adds to an ever-growing body of evidence about the effects of climate change and the case for swifter, deeper action....
...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...
...Several big US insurers, including State Farm and The Hartford, have paused their underwriting of new home policies in the state of California....
...The US property and casualty (P&C) industry recorded a $26.5bn net underwriting loss in 2022, says rating agency AM Best....
...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...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...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....
...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...
...under pensions, and insurance policies....
...Farmers Insurance, one of the biggest property and casualty providers in the US, found itself under attack this year for political “wokeness”....
...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....
...We talked a little bit about these sorts of stocks last week, and we mentioned our first pick, Everest Group, then. Everest is a property casualty reinsurer and primary insurer based in Bermuda....
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