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...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...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...
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...Continental European commercial property insurance prices rose at the start of the year for the 22nd consecutive quarter, according to an index from broker Marsh....
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...Should companies be punished for handing money back to shareholders? The Department of Justice seems to think so....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Its property and casualty insurance division weakened, posting an overall underwriting loss reflecting worse conditions for areas such as credit insurance, but its major life and health insurance division...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...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....
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...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....
...Lloyd’s of London — the world’s oldest insurance market — acquired a reputation for inefficiency, complacency and boorish behaviour. Yet last year’s performance was the best for 16 years....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...a company to house Eurovita’s life insurance policies....
...Asked if the savings target — which equates to just over a 10th of the group’s cost base — would include job cuts, Winslow said the company was “not announcing anything on jobs today” and would talk to colleagues...
...Insured losses from natural disasters in the US topped $275bn between 2020 to 2022, the most ever for a three-year period, according to the American Property Casualty Insurance Association....
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