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...High spending on customer acquisition has been a concern for investors in Lemonade and other insurance start-ups....
...Tokio Marine is being sued by investors seeking payouts on the credit insurance, but expects no material financial impact....
...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...The UL network traces its roots to a late 19th century effort to help insurance companies save money by testing electrical products for fire risk....
...followed reporting by the Financial Times that Dubai-based Paramount Energy & Commodities DMCC had traded a type of Russian oil last year that routinely priced above the G7 cap, while using western-based insurance...
...He will replace former banking and insurance executive David Godfrey on several of Nomura’s European and UK boards in April....
...It is also the biggest fund ever raised by Brookfield, which manages $850bn across sectors spanning real estate, credit and insurance, renewable energy and corporate buyouts....
...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....
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...
MassMutual arm files for temporary restraining order and preliminary injunction after 20 employees defect
...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 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....
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.”...
...One thing to start: 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...
...The legal fallout from the collapse is expected to take years to resolve, with discovery in the Australian insurance proceedings set to stretch into at least next year....
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...The suburban New York-based institution last March acquired most of Signature’s deposits and just over a third of its assets including nearly $13bn in loans, in a deal arranged by the Federal Deposit Insurance...
...said late on Tuesday it had total deposits of about $83bn — up slightly from $81.4bn at the end of 2023 — and that its total liquidity exceeded the amount of deposits not protected by US government-backed insurance...
...Ajit Jain, a Berkshire vice-chair who oversees its insurance operations, told shareholders at the annual meeting in May that the company had wagered heavily on the Florida insurance market and had written...
...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 last significant US bank to fail was First Republic, which was closed by the Federal Deposit Insurance Corporation in early May....
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