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...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...The chief executive of Aon, one of the world’s largest insurance brokers, has called for better modelling of climate risks, saying conditions in the property insurance market were “stressed” after a surge...
...It is continuing to provide cover to ships transiting the Red Sea, for which insurance rates have jumped as the Houthi rebel group has attacked commercial ships....
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...The move would cement the group as one of the biggest underwriters in the London market. This year, the company will write around £2bn of business within Lloyd’s itself....
...The price rises have sparked concern among insurance buyers and consumer groups....
...Fuad Mohammed Abubakar, head of the Ghana Cocoa Marketing Company, said he was not worried. “Farmers in Ecuador are producing near-optimal yield levels,” he said....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...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....
...Scott Walker, chief executive of trade group GB Potatoes, said six years ago potato farmers produced 6mn tonnes of the vegetable each year but “now we’re looking at 4mn tonnes”....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The chief executive of FTSE 100 group Admiral, one of the biggest UK car insurers, said its motor insurance prices had peaked, signalling the end of a surge in premiums across the industry that sent the...
...“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....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...Squeezing smaller companies out of the market will hurt African economies....
...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 —...
...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...
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...The FTSE 100 group reported record pre-tax profits of $1.25bn last year and announced a $325mn share buyback....
...Total returns for the group’s shares have underperformed the Stoxx 600 insurance sector by a third over the past three years....
...Only one week of consultations went into the proposals, involving agriculture ministers, four of the major farming lobby groups and the parliament’s agriculture committee....
...“There is a lot of cover for the [protection and indemnity] element to address,” said Neal, citing the $3bn of liability reinsurance that the ship has access to through the International Group of P&I Clubs...
...Aviva chief executive Amanda Blanc said the deal “opens up new opportunities to accelerate growth” in the group’s general insurance business....
...’s picks of the week If companies can use artificial intelligence rather than advertising agencies to market their brands, what’s the point of ad executives who ply their trade by selling creative concepts...
...Howden said the progress of his group and others such as US-listed rival Gallagher had led to a broadening of competition in the highest reaches of insurance broking, almost three years after US regulators...
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