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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...
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Lemonade, whose shares have fallen more than 70 per cent since its first day of trading in New York in 2020, provides a range of insurance including for homes, pets and cars to customers in the US and Europe...
...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...in analysing complex risks....
...“We don’t believe we fully understand the risks associated with these offshore insurance companies,” said Natalie Winterfrost, a professional trustee and former chair of the investment committee at The Society...
...Funabiki also praised UK regulators, which have come under criticism from lawmakers and lobby groups for being slow in approving new insurance securities, as “very knowledgeable and . . . always willing...
...The cache of shipping files, seen by the Financial Times and the Danish media group Danwatch, reveals a number of Russian vessels travelling from the Baltic are relying on insurance that can be easily voided...
...Lloyds Banking Group plans to cut jobs in risk management after an internal review found the function was a “blocker to our strategic transformation”....
...But development in the US’s most densely populated state is heavily concentrated near shores and rivers, putting homes and businesses at risk. That risk is not being factored in to insurance premiums....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...US insurance group A-Cap said last month it would attempt to raise capital and take back control of assets that it had ceded to 777 Re after downgrades of the reinsurer, putting pressure on the funding structure...
...“The benefits [of Leqembi] are modest and the risks are well-documented,” said Madhav Thambisetty, a senior investigator at the US National Institute on Aging....
...The FTSE 100 group reported record pre-tax profits of $1.25bn last year and announced a $325mn share buyback....
...Insurance group Zurich’s sale of a $20bn life insurance book to Viridium has collapsed, with the private equity-backed German consolidator citing “considerations relating to [its] current ownership structure...
...The group, which represents the €28.5tn European investment industry, has asked major central banks, which jointly own the CLS currency settlement service, to implement urgent measures to address the risks...
...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...
...In some of the worst-hit areas of the US, several insurers have pulled back from offering home insurance, contributing to an affordability crisis....
...The US government has said insurance payouts should “ultimately” contribute to the construction costs, but it does not want financing concerns to delay the rebuilding effort....
...China’s Ping An has reported a drop in its 2023 profits in a year when it said “capital markets fluctuated significantly, credit risk heightened, and risks in the real estate industry were still being mitigated...
...Aviva chief executive Amanda Blanc said the deal “opens up new opportunities to accelerate growth” in the group’s general insurance business....
...The attorney-general’s lawyers further claimed Knight Insurance sent “100 per cent of its retained insurance risk to affiliates in the Cayman Islands”, where “lax regulations” allowed the company to bolster...
...This does not always result in a higher premium but insurers like to know of any additional risks....
...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
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