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...The attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...The insurance claim stemming from the accident could reach $1bn-$3bn, Barclays analysts estimated on Wednesday....
...According to Axa XL, of the 4,400 operational LEO satellites in 2021, just 47 were covered....
...Lloyd’s insurers Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among those that have pledged to hold the risk for a total of £500mn of insurance coverage written in partnership with these...
...An index of specialist catastrophe bond funds has climbed 19 per cent in five years, according to insurance database Artemis. What might XL fetch?...
...Their performance was helped by a few big successes such as insurance group Skyward Specialty, which has risen 125 per cent since listing a year ago, and Rayzebio, which is up 244 per cent, driven by news...
...Gains for companies such as insurance group Skyward Specialty and biotech company Rayzebio more than offset losses for high profile tech flops like Instacart....
...Srdjan Todorovic, head of political violence and hostile environment solutions at its specialty arm, wrote that the “rapid galvanising effect of social media means unrest can occur in multiple locations...
...“It has become a bigger company and this could create the perception that it needs more insurance,” said Kevin Lacroix, an attorney and executive vice-president at RT ProExec, a unit of RT Specialty, an...
...Catastrophe insurance is a leading indicator....
...“Insurance and grain futures were once distrusted concepts that evolved into the important risk-management tools we know today....
...The IRA has created an opportunity for new kinds of insurance products, too, said Jordan Tamchin, tax insurance practice leader at CAC Specialty, a broker....
...Insurers and reinsurers Swiss Re, Hannover Re, Scor, Axa XL, Mapfre, Italy’s Generali and Fidelis have all introduced restrictions on reinsuring oil, and in some cases gas, since June last year....
...growing environmental disclosure requirements for companies around the world has also increased the risk to businesses, said Terry FitzGerald, head of financial and professional liability at insurer Liberty Specialty...
...The insurer said its Axa XL unit, a commercial insurance specialist and reinsurer, had shown resilience despite claims linked to Russia’s invasion of Ukraine....
...Mr Catlin launched Convex two years ago, setting out to repeat his earlier success with the eponymous Catlin, which he founded and sold to XL Group for $4.1bn in 2015, and to take on rivals such as Axa,...
...But that integration has not been without its problems, with the head of Axa XL being replaced in 2020 at the same time that it downgraded an earnings target for the unit....
...The major division of property and casualty insurance benefited from the global rise in insurance prices, while the life and savings division increased turnover 12 per cent....
...Axa’s results were bolstered by a strong underwriting performance at its Axa XL division, which benefited from an upswing in commercial insurance prices....
...But a much discussed idea of a public-private insurance backstop, to make sure businesses can get some protection against the next pandemic, has yet to see the light of day....
...Axa XL, a division of the French insurance group, will pay more than €50m under the settlement, according to the report....
...Tata is suing for £7.9m, which includes the remainder plus interest and £1.3m for insurance liabilities....
...The centrepiece of that plan was the $15bn acquisition of Bermuda-based XL, and the demerger of its US life insurance business, Axa Equitable....
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