Hints and tips:
...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...
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...Terminal V did not respond to a request for comment....
...Allstate cited the growing bill from wildfires as among the reasons it paused selling new home insurance policies in California last year....
...Last week, US insurer Allstate posted a net loss of $310mn in the fourth quarter as higher motor insurance prices were not enough to overcome increased claims costs and related increases in its reserves....
...The share price of two of the largest US car insurance companies — Take Allstate and Progressive — have fallen in the past month, reflecting the rising costs of underwriting auto insurance policies....
...Nicholas Malins-Smith Cambridge, UK...
...Ecommerce site eBay, cleaning goods manufacturer Clorox, and insurance companies Allstate and MetLife report after Wall Street’s closing bell....
...As always you can reach me at sid.v@ft.com....
...For this week, insurance correspondent Ian Smith takes a look at the chat bots that are increasingly handling your claims....
...As ever, drop me a note at sid.v@ft.com if you’ve got thoughts and ideas for upcoming Future of Money newsletters....
...For our main piece, our insurance correspondent Ian Smith analyses how the deeply personal insurance broking business is trying to adjust to a digital world, and further down we have a Q&A with a digital...
...Perhaps insurance companies would also buy them as a hedge. Annuities from insurers are considered poor value for money now because rates are so low....
...No premiums for insurtech Once high-flying insurance start-ups like Lemonade, Hippo and Root have emerged as the biggest casualties of the broader sell off in tech stocks, the FT’s Ian Smith writes....
...Slovakia’s prime minister said he was ready to stand down to defuse a crisis over his decision to purchase Russia’s Sputnik V vaccine, which has not been approved by Europe’s regulator....
...Almost two-thirds of Russians are unwilling to receive the Sputnik V vaccine and about the same number believe Covid-19 was created as a biological weapon, a pollster said on Monday....
...The developers of Russia’s Sputnik V Covid-19 vaccine have demanded an apology from Europe’s drug regulator for comments made by the head of the agency likening having the jab to “Russian roulette”....
...Russia is seeking to manufacture its Sputnik V vaccine in Italy to meet a surge in overseas contracts....
...“What you’re seeing is an expectation of a V-shaped recovery and that may prove to be too optimistic,” said one equity analyst....
...If you missed it, this long read by our media correspondent Anna Nicolaou charts the drama of The People v Harvey Weinstein trial....
...(FT) Walmart v Amazon Few retailers are coping better with the relentless rise of Amazon than the country’s largest retailer Walmart....
...(FT) Trade war insurance US universities are looking to buy insurance policies against a drop in revenue from international students, fearing they are overexposed to China amid geopolitical tensions....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...What we’re reading Barr v Congress When William Barr cleared Donald Trump on obstruction of justice on Sunday, the US attorney-general held true to a long-held and expansive view of presidential authority...
International Edition