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...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...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....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...Rising premiums have lifted the fortunes of insurance brokers, who take home a proportion of the premium as commission....
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...and workplace insurance products such as pensions....
...But public car insurance would be even harder to design than flood-zone home insurance: how would any government limit the number it covered?...
...Also in the group is Manuel Sánchez Rodriguez, a former top executive at Spanish bank BBVA and a board member, since 2018, of the US government-backed mortgage insurance company Fannie Mae....
...The marine insurance market has also seen a sharp rise in the cost of travelling through the Red Sea and Suez Canal as a result of a wave of attacks by Iran-backed Houthi rebels....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...into bank parent companies....
...In response, the consultancy expects home insurance prices to rise by 36 per cent over the two-year period....
...BROOKE MASTER: Citicorp at that point was a giant bank that did corporate and retail banking. Travellers, meanwhile, was an insurance company that also had an investment banking arm....
...Insurance companies have pushed up the costs of protecting homes, cars and valued possessions from loss and damage....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Property catastrophe reinsurance, which insurers buy to share extreme weather-related losses claimed by homes and businesses they insure, has surged in price over the past 18 months, supporting a recovery...
...As Sonali Basak pointed out on Bloomberg last week, if the assets are held within insurance-company subsidiaries, insurance regulators will have visibility, and there will be some required disclosures....
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...Industry and consumer rights experts say this has driven many home-movers to lower-priced, less reputable services and put them at risk of removal scams....
...Its insurance customers carried lower costs of capital than banks, making them a good home for many loans, said Gray....
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