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...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...A significant part of the Signa group debt was provided by non-bank financial companies such as Dortmund-based insurer Signal Iduna, a midsized company with 12mn customers, mainly in health and life insurance...
...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...
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...The Russian dark fleet’s insurance arrangements with Ingosstrakh potentially expose coastal states in Europe and Asia to huge potential clean-up costs in the event of a spill....
...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...“We are not going to comment on this matter save as to say that the [secretary of state] has taken such action without as much as requesting a meeting with the companies,” the company said....
...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!...
...Hong Kong-listed shares in Chinese electric-vehicle maker Li Auto dropped 7 per cent on Friday, after the company slashed its January-March sales volume forecast due to lower than expected order intake....
...Andy Haigh Director of Climate Positive Solutions, Grosvenor Property UK, London W1, UK...
...It is 28 per cent owned by the Shenzhen Metro, occupying a middle ground between a private and state-owned company....
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....
...In addition, many US states — including those most prone to flooding, such as Florida — do not require sellers to disclose a property’s flood risk to buyers....
...Yet a series of creative financings led by Leiv Synnes, the chief executive parachuted in last year, have kept the company ahead of its creditors....
...Six residential property and casualty insurers became insolvent in 2022, according to the state....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...Robinson and other experts have likened the probe to the payment protection insurance scandal, which dates back to the 1990s when banks mis-sold insurance to millions of customers, leading banks to later...
...Some opportunistic buying seems to be happening in the auto sector....
...Issues at Vanke, which is partly owned by the state-owned metro in the southern city of Shenzhen, highlight the extent to which the sector’s weaknesses have spread to companies previously seen as highly...
...The Israeli company blamed the shortfall on the stockpiling of chips by its auto manufacturing customers. In 2020 and 2021, automakers could not source enough chips to meet consumer demand....
...Neumann has plans to regain control of the company. The poor state of the commercial property market does not inspire much hope for a turnaround....
...He praised Felisa’s contributions to the company, and said there would be an orderly handover between the two men....
...The British Property Federation said the change could hit investors wanting to buy badly needed rental homes....
...and property catastrophe reinsurance....
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