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...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...There, an ominous-looking chart started doing the rounds, showing that the cost of buying insurance against a default on debt by the German bank had rocketed higher....
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...Nonbanks buying them are mostly lightly regulated or unregulated entities such as private funds and insurance companies....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...He said it was “high time to invest in more climate adaptation”, saying that “protective measures” needed to be taken for insurance to remain affordable for properties that were being built in at-risk areas...
...Nasa asked Raymond Loewy to help turn the hull of the third stage of a Saturn V rocket into a home in which a three-man crew could live for three months at a time....
...Kathleen Donnelly KC acted for 555 sub-postmasters in a 2019 High Court case, known as Bates v Post Office, that led to revelations the company had pursued thousands of people between 2000 and 2014 with...
...Terminal V did not respond to a request for comment....
...Not enough work has been done to create global stockpiles of protective equipment, medical devices, vaccines and treatments for rapid deployment in a crisis, it said....
...But he added that it had lacked the ability to accelerate its response in diagnostics and other areas such as personal protective equipment....
...Royal Insurance merged with Sun Alliance in 1996. Turning to the 2023 list, HSBC bought the Midland Bank in 1992....
...Holdings of UK-listed companies by British pension and insurance funds have plunged from about half of their portfolios to 4 per cent over the past two decades, according to data from Ondra....
...They say that the fees they can charge in most cases are capped at about €7,000 and are often paid by their clients’ insurance. “It’s cost intensive,” said Cäsar-Preller owner Joachim Cäsar-Preller....
...“Not a single one of the clients who are in these funds would pay these rates for any other type of insurance, certainly not term [life] insurance,” she points out....
...If BlackRock can help with that, while the governance of reconstruction investments remains open, transparent, competitive and protective of public wealth, then so much the better....
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...EU members would also be explicitly banned from exporting riot control gear such as tasers, tear gas and protective equipment....
...JAB has acquired stakes in two companies from Fairfax, taking over its interests in Crum & Forster Pet Insurance Group and Pethealth in a deal announced on Monday....
...Majority-owned by a consortium of German insurance companies and pension funds, it operates the power grid and substations in western Germany, the industrial heartland of Europe’s largest economy....
...“Although you can control a museum during your lifetime, it becomes very difficult after you’ve gone, and then there are the considerations of insurance, access and conservation.”...
...AI is giving underwriters godlike powers, according to the president of Sompo Holdings, one of Japan’s biggest insurance companies....
...To minimise the cost of absenteeism, it may make sense to invest in health insurance, Nimmo says. Long waiting lists for NHS treatment in the UK can have expensive knock-on effects for companies....
...As always you can reach me at sid.v@ft.com....
...Until then, you can reach Sid and I at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
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