Hints and tips:
Related Special Reports
...In December it agreed a $13bn acquisition of US broker NFP, expanding the business it does with mid-sized companies....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...The chief executive of Lemonade has criticised “naysayers” that predicted the lossmaking insurance start-up would go out of business after it reported a small rise in its cash and investments in the second...
...The insurer is due to underwrite about £2bn of business within Lloyd’s this year and then grow that as a central part of owner Mitsui’s five-year strategy to reach £3bn within Lloyd’s and the so-called company...
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...This year, the company will write around £2bn of business within Lloyd’s itself....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...A string of big home insurers have halted new business in California, for example, in response to a surge in extreme weather losses....
...In March, the boss of Admiral said the sector was in a “different situation” and that the FTSE 100 company had even put through a “small price decrease” recently to win business....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...The state regulates home insurance premiums to protect homeowners, but in some cases that has made business unviable....
...This was offset by a positive contribution from other business lines, such as home insurance and motor rescue....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...Admiral had even put through a “small price decrease” in the past few months as it sought to win more business....
...This month’s £242mn purchase of the Probitas syndicate will allow it to tap into what it said were the many brokers that prefer to place business via the Lloyd’s market....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...Speaking to the Financial Times, David Howden, founder and chief executive of insurance and reinsurance broker Howden, predicted the price of business cover would flatten this year as the supply of insurance...
...& officers insurance, where prices have come off....
...out for business interruption to a busy eastern US port....
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...and workplace insurance products such as pensions....
...Indeed, UniCredit will probably buy back and consolidate its insurance businesses, at present held within joint ventures with insurance companies....
International Edition