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...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 role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...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...
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Names were the historical basis of the Lloyd’s market, but also at the centre of one of its biggest controversies....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...This part of the insurance industry has been hit by four consecutive years of outsized losses from extreme weather....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...Wadhwani began his role in February, but has only started publicly outlining his plans for Prudential in the past week, after the company published half-year results....
...Savings products contribute the majority of sales in Hong Kong, the company said on Wednesday....
...Insurance group Prudential’s new business profit rose by about 45 per cent to $3.1bn last year, as its core business in Hong Kong continued to recover from the impact of coronavirus restrictions....
...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....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...On the regulatory side, the forum said it was considering what it called a “sandbox” idea, where the industry and its regulator, the Bank of England’s Prudential Regulation Authority, could “discuss and...
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Anil Wadhwani, the new chief executive of Prudential, has promised to “do things differently”. He also says the UK-listed insurer will focus on Asia and on paying dividends....
...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 company in as many years....
...Analysts at Bank of America said the deal should not worsen the outlook for capital returns at Aviva....
...“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....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Lloyd’s of London — the world’s oldest insurance market — acquired a reputation for inefficiency, complacency and boorish behaviour. Yet last year’s performance was the best for 16 years....
...The company set a new target to generate £2bn of operating profit by 2026, and new guidance that the cash cost of its dividend should grow by a mid-single-digit percentage....
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