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...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...
...A significant part of the Signa group debt was provided by non-bank financial companies such as Dortmund-based insurer Signal Iduna, a midsized company with 12mn customers, mainly in health and life insurance...
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...The Russian dark fleet’s insurance arrangements with Ingosstrakh potentially expose coastal states in Europe and Asia to huge potential clean-up costs in the event of a spill....
...Forty-one Upper Grosvenor Street has been empty for a large part of that, drawing the ire of homelessness campaigners lamenting largely absentee foreign owners hidden behind offshore companies....
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Grosvenor, the Duke of Westminster’s property company, is launching a £900mn lending business focused on residential development, as real estate investors opt for debt investments over the risk of buying...
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...I have taken that route with my coastal property....
...“Ajit’s achievements since joining Berkshire have been supported by a large cast of hugely-talented insurance executives in our various P/C [property-casualty] operations,” he wrote....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Andy Haigh Director of Climate Positive Solutions, Grosvenor Property UK, London W1, UK...
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....
...“Many multinational companies are downsizing, driven by a weak economy . . . and mainland Chinese companies are not coming in at the [quick pace] as previously expected due to budget limitations.”...
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...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....
...consider buying a property....
...But both property and casualty reinsurers, and their counterparts in the life business, are now attracting greater attention. Let us take them in turn....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Many traditional shopping centres have had their value wiped out by the rise in ecommerce, while the need for new housing and investor appetite for residential property has increased....
...Yet a series of creative financings led by Leiv Synnes, the chief executive parachuted in last year, have kept the company ahead of its creditors....
...Insurance companies are fleeing Florida as costs to insure property have increased dramatically....
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...But as the property market adjusts to higher interest rates, a growing number of mainstream homes are being traded in this way — or so estate agents claim....
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