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...High spending on customer acquisition has been a concern for investors in Lemonade and other insurance start-ups....
...Warnings are growing from policymakers about an approaching “tipping point” when extreme weather caused by climate change makes insurance unavailable in certain regions....
...Acknowledging that the impact of climate change varies by region and each so-called “peril”, such as wind, fire and flood, Mitchell-Wallace called for a “well-considered” approach from the market with investment...
...Insurance group Zurich’s sale of a $20bn life insurance book to Viridium has collapsed, with the private equity-backed German consolidator citing “considerations relating to [its] current ownership structure...
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...“The insurance industry has a problem in that region for the foreseeable future.”...
...Price increases would be most significant in loss-affected regions, it said. The cost of reinsurance in catastrophe-hit US areas rose by as much as double in the last annual renewals round....
...Insurance and Occupational Pensions Authority....
...Cigna is in talks to merge with Humana in a deal that would create a US health insurance giant worth $140bn and provide a significant test for antitrust authorities, according to people briefed about the...
...US health insurer Cigna has abandoned plans to merge with Humana, a blockbuster transaction that would have created a $140bn insurance giant, according to people familiar with the matter....
MassMutual arm files for temporary restraining order and preliminary injunction after 20 employees defect
...The next most represented industry is fintech, financial services and insurance, which accounts for 8 per cent....
...The last significant US bank to fail was First Republic, which was closed by the Federal Deposit Insurance Corporation in early May....
Case studies in best practice among general counsel and company legal teams in North America
...The country’s largest banks expensed $16bn to cover the government-imposed “special assessment”, which replenished a deposit insurance fund that was heavily depleted by the failures of Silicon Valley Bank...
...The company spent billions of dollars acquiring truck-stop operator Pilot Flying J and insurance conglomerate Alleghany in recent years, adding them to a portfolio that includes ice cream purveyor Dairy...
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...The investors suing Apple claimed that Cook had downplayed concerns about China, citing a “strong” recent quarter in the region....
...Not since 2019 has the space insurance sector had such a bad year. Then, insurance rates doubled almost overnight. This time round that could be the best case....
...Visit the FT poll-tracker page to discover our methodology and explore polling data by demographic including age, gender, region and more....
...The gains were fuelled by strong results from Berkshire’s insurance unit, including at Geico, as well as higher interest rates....
...Lyft’s insurance cost per trip is about $2.43, or 50 cents per mile....
...“This is a wake-up call for the financial industry and the insurance industry,” executive director of the European Environment Agency Leena Ylä-Mononen told the Financial Times....
Trends in geopolitics force faster responses from legal teams
...“But Dai-ichi Life is clearly on the conservative side and people will look at it and say that’s Japan Inc. It’s great news for M&A in Japan.”...
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