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...Ingosstrakh, which evolved out of the Soviet-era Chief Agency of Foreign Insurance, is one of Russia’s largest insurers. Insurance for shipping is a small part of its portfolio....
...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...
...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....
...Insurers, meanwhile, defend the use of funded reinsurance as one of a number of risk management tools that provide security to their customers’ benefits....
...He predicted that more would come from areas such as insurance-linked securities — where investors put their capital against insurance risks — leading to a “levelling of pricing”....
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...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....
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the final three months of last year, the 25th straight quarter of increases....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...The Belgian company reinforced the idea that this is a cut-price, opportunistic bid, with a second cash-and-shares proposal of about 239p per share....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Indeed, UniCredit will probably buy back and consolidate its insurance businesses, at present held within joint ventures with insurance companies....
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
...Financial Times readers will recognise Apax as one of the UK’s biggest buyout groups, which has taken companies such as Tommy Hilfiger private....
...The area of private medical insurance that has seen the strongest growth has been in the number of people taking out personal cover, according to a survey by Statista Consumer Insights, a research company...
...The view reflected a consensus in the insurance sector on one of today’s key threats: a systemic cyber attack would be too big, and too widespread, a risk to be insured....
...It had also seen some examples of companies paying out 70 per cent of the premiums in commission to third parties involved in selling the add-on insurance....
...However, critics of the project have said it rewarded investors at the expense of taxpayers and customers....
...It would be preferable if I could store my personal data and port it myself between insurers, rather than it being secured (at best) in one company’s database....
...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!...
...Oil markets have been less affected by the disruptions, with many companies still willing to traverse the Red Sea route, according to Vortexa, despite facing higher insurance costs....
...Confused.com, on whose platform the index of quotes is based, said it was a “bleak time for drivers and their car insurance”....
...The costs of core insurance products, such as home and motor insurance, have come under increased scrutiny amid a cost-of-living squeeze on UK households....
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