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...“The portfolio has been diversified in consumer goods and services.”...
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Lawyers’ fees account for just over half of the cost, with another third paid to insurance advisers....
...Ingosstrakh, which evolved out of the Soviet-era Chief Agency of Foreign Insurance, is one of Russia’s largest insurers. Insurance for shipping is a small part of its portfolio....
...The Association of British Insurers welcomed the PRA’s acknowledgment of the importance of reinsurance to well-functioning insurance markets, and said the sector gave “vital protection and peace of mind”...
...“Quite a few of them have gone under over the last three or four years partly because they didn’t get their insurance money,” Leedham said....
...International Distributions Services, the owner of Royal Mail, is another recent target that DD is keeping tabs on....
...Texas has set a yearly record for heat deaths for the past three consecutive years, according to The Texas Tribune....
...According to filings with insurance regulators reviewed by the Financial Times, the unit ultimately bears much of the risk that individual Berkshire insurance subsidiaries take....
...The Mississippi Public Service Commission, the state regulator, declined to comment. The story of Southern Spirit is emblematic of a wider challenge facing the US energy transition....
...Apollo-backed Athora has terminated an agreement to buy a €19bn book of German life insurance business from Axa, citing “significant changes in financial market conditions” for a decision both sides said...
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Jonathan Dixon, secretary-general at the International Association of Insurance Supervisors, told the Financial Times that while the sweep of private capital groups into the life insurance sector helped...
...The private medical insurance sector is booming, with the number of people covered by health insurance hitting 5.8mn in 2022, according to the latest industry data — the highest level since 2008....
...The Texas forest service noted that large fires had a “high resistance to control” where the grasses were “subjected to well above normal temperatures and critical wind speeds”....
...It will be part reinsurer, taking on $10bn to $15bn of long-dated insurance liabilities and investing a portion of the underlying funds in private credit and other alternative assets, and part investment...
...This is a test of the government’s commitment to support financial services. Lloyd’s may not get the attention its near-quarter share of City GDP deserves....
...News round-up Freshfields’ former tax partner sentenced to 3½ years in jail (FT) Zurich’s sale of $20bn life insurance book to PE-backed group collapses (FT) Sotheby’s cleared of art fraud in Russian...
...Unhedged: Some of your competitors, rather than working on behalf of insurance companies, own insurance companies, or have insurance subsidiaries. I wonder why Blackstone hasn’t done that....
...Often, travel insurance is included either as an extra benefit or service through your bank or credit card company as part of a package of services for which you pay a monthly or annual fee....
...medical insurance-funded services is ‘very positive’ or ‘positive’ so independent providers are upbeat about the[ir] prospects.”...
...most of the rise in transportation-services costs: car insurance!...
...Now that 500-year floods happen every other year in Texas, that was our first lesson learnt — the hard way. Try getting flood insurance after your whole neighbourhood has been 9 feet under water....
...Cara Spinks Head of Insurance Consulting, OAC, London EC2, UK...
...Long-dated insurance premiums are becoming the funding of choice. The shift is sufficiently seismic that once overlooked credit firms are now the subject of bidding wars....
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