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...The chief executive of Aon, one of the world’s largest insurance brokers, has called for better modelling of climate risks, saying conditions in the property insurance market were “stressed” after a surge...
...The housing department has applied to a property tribunal for an order to require companies in property tycoon John Christodoulou’s Yianis Group to contribute to fixing safety issues at the Canary Riverside...
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...The group’s refinancing challenge represents a high-profile example of the position of property owners around the world, who will have to refinance their loans at a time of higher borrowing costs and lower...
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Grosvenor, the Duke of Westminster’s property company, is launching a £900mn lending business focused on residential development, as real estate investors opt for debt investments over the risk of buying...
...Kering said it had bought a retail block on Milan’s top shopping street from Blackstone for €1.3bn, the largest property deal in Europe over the past couple years....
...to reside in a property and sell that right on, although ultimately the building is owned by a landlord or freeholder....
...Continental European commercial property insurance prices rose at the start of the year for the 22nd consecutive quarter, according to an index from broker Marsh....
...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 owner of the Bullring shopping centre in Birmingham and Brent Cross in London reported the first rise in rent expectations since 2017, in the latest sign that the gloom over retail properties is lifting...
...In other countries, mortgage insurance mitigates the risk premium for high LTV loans. Even after paying for insurance against default, buyers can still save money....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...Donnell also cited tax changes for landlords and capital gain taxes on property sales by overseas owners introduced in the mid-2010s The “race for space” after the onset of Covid-19, where buyers with savings...
...“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....
...Overall, property insurers paid out £4.9bn to households and businesses last year, with more than half of that to homeowners....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Assets equivalent to the size of the European-listed sector could come to market this year as private owners, including pension and insurance funds, bail out of commercial property....
...bonds and are held by insurance companies, pension funds and individual investors....
...“At some point if high vacancy rates hold, these property owners are not going to be able to service their debts, and banks are going to foreclose,” said João Granja, an accounting professor at the University...
...Gucci owner Kering has bought a retail block on Milan’s top shopping street from Blackstone for €1.3bn in Europe’s biggest property deals for two years, as intense demand from luxury groups helps high-end...
...Commercial landlords are predicting that higher debt costs will force a growing number of owners to sell if unable to refinance against lower property values when their loans come due....
...DIY markets are often linked to the strength of the housing market, as people spend money renovating their properties after moving....
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