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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...
...Lloyd’s of London has attracted its biggest syndicate backed by individuals, or “Names”, since the early 1990s, as the insurance market looks to rebuild a base among private investors after its best performance...
...This part of the insurance industry has been hit by four consecutive years of outsized losses from extreme weather....
...A sell-off in shares of cruise line operators created choppy market conditions for rival Viking Holdings, which was set to float on Wednesday in one of Wall Street’s biggest public listings this year....
...Travel company Viking Holdings expects to raise up to $1.1bn in its initial public offering in the US, as the market for listings heats up after two years of subdued activity....
...Berkshire after Buffett: The second part of our series on the company’s future looks at Ajit Jain, the risk “genius” running Berkshire Hathaway’s insurance operations....
...The stock price gave the company a market capitalisation of $11.2bn....
...Collectively, they invested roughly $680mn each to own individual stakes of just over 20 per cent of the company....
...We spend an enormous amount of energy on figuring out what companies will be more successful than the others. This is precisely what Dagens Naeringsliv did....
...Brian Lian, Viking’s chief executive, said the company would meet regulators at the US Food and Drug Administration to assess next steps by the middle of the year....
...The ship’s liability insurance is provided in the first instance by Britannia P&I, part of a global group of liability insurers that share their losses between themselves and $3bn worth of reinsurance....
...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...
...The steep rise in the cost of home insurance in the US and elsewhere can be traced, in part, to a move two years ago by P&C reinsurers to increase the price of cover against natural catastrophes and toughen...
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Reinsurers “need to feel that it is not just about selling insurance and making a profit. It’s about responsibility as part of society”, Hielkema said....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...He’s made a shit ton of money for the company.” Buffett’s fascination with the insurance industry dates back more than 70 years....
...“The dividend is back [above] 51 cents, plus the Canada payment, so the insurance fund is now receiving the kind of money it identified in the first place when it bought,” said a person close to Ping An....
...But some of Hankey’s companies have been accused of being dishonest with their customers, too....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...However, Fox’s net income jumped to $704mn, compared with a net loss of $50mn a year ago when the company paid nearly $800mn to settle a lawsuit brought by voting company Dominion about its role in peddling...
...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...
...The company set a new target to generate £2bn of operating profit by 2026, and new guidance that the cash cost of its dividend should grow by a mid-single-digit percentage....
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the final three months of last year, the 25th straight quarter of increases....
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