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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 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...
...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...More than a dozen German insurance companies filed a petition with Vienna’s district court last week, a copy of which was seen by the FT, demanding an end to Signa Prime’s self-administration....
...Andy Haigh Director of Climate Positive Solutions, Grosvenor Property UK, London W1, UK...
...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 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...
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...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....
...The move will make Sampo the largest pure property and casualty insurer in the Nordic region....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Insurance companies are fleeing Florida as costs to insure property have increased dramatically....
...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....
...in the property empire before its collapse....
...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....
...The staging company lugged it around town in a van....
...Overall, property insurers paid out £4.9bn to households and businesses last year, with more than half of that to homeowners....
...Andrew Wishart, economist at research company Capital Economics, said the capital looked more affordable because earnings were outpacing house prices, adding: “I think this sort of London underperformance...
...The Chicago-based airline posted a pre-tax loss of $164mn, which the carrier said reflects “the approximately $200mn impact from the Boeing 737 Max 9 grounding, without which the company would have reported...
...The Chicago-based airline had a pre-tax loss of $164mn, which the carrier said reflects “the approximately $200mn impact from the Boeing 737 Max 9 grounding, without which the company would have reported...
...Property insurance rates, a particular source of pressure, were up another 6 per cent, and overall prices grew 2 per cent....
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
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