Hints and tips:
Related Special Reports
...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...
...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...Allstate’s holding company just caught its second credit downgrade to BBB+, three tiers above junk, this time from S&P Ratings....
...john.reed@ft.com...
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...Barclays operates a partnership model in the US market, running co-branded credit cards for 20 companies including The Gap, JetBlue Airways and the AARP....
...Sunak’s wife, Akshata Murty, has shares in the company worth an estimated £625mn....
...California last month struck a deal with insurance companies to continue writing policies for property in disaster-prone areas, after big US names such as State Farm and Allstate stopped issuing any new...
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Shares of companies with large auto-insurance businesses — ones that trade without the protection of Warren Buffett’s imprimatur, at least — have started to reflect those issues....
...The company said the head of its insurance operations, Gilles Dellaert, would lead the combined unit....
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...Those with the most exposure to home insurance have suffered more. Shares in Allstate, the country’s second-biggest home insurer by premium volume, have fallen by a fifth....
....— Royal Insurance and Sun Alliance & London Insurance merged, forming the company that would eventually become RSA Insurance, which was then acquired — so they both show up as acquired here.— Several FTSE...
...companies.”...
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...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...
...This trend has intensified in recent years with large insurers following suit: for example, Allstate, Chubb and AIG sharply scaled down operations in California citing onerous price regulation....
...It caused eight insurance company collapses. On one side of the trade are the insurers (or businesses and governmental bodies) seeking protection from catastrophe-linked losses....
...One company was looking to commission a ship with “fully contained” storage for cars, Gunn added. Shipowners could face growing pressure from clients to make these kinds of upgrades....
...Because of sanctions, aircraft parts in Russia are now mostly cannibalised from old aircraft, raising questions about their provenance that would invalidate most international insurance contracts....
...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...
...Travellers, meanwhile, was an insurance company that also had an investment banking arm. SMITH BARNEY: Smith Barney. They make money the old fashioned way....
...Terminal V did not respond to a request for comment....
...It has also begun to manage the debt portfolios for large insurance companies, including AIG and Allstate....
International Edition