London IPO Hopeful Utmost Group Weighs Sale of Pensions Unit
The firm is working with advisers at financial services-focused boutique Fenchurch to explore options for the unit, including a potential disposal, people familiar with the process said. The deliberations are at an early stage and there's no certainty they will result in a deal, the people said, asking not to be identified discussing private information.
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State Farm to hike home insurance rates by 27% in this state
State Farm will soon hike insurance rates on Illinois homeowners by more than 27%. That is effectively adding $746 to the average policyholder's annual premium. For comparison, the average homeowner's insurance costs are roughly $2,110 a year, or about $176 a month, according to a May analysis by NerdWallet. Illinois Gov. JB Pritzker criticized the insurance giant's move, saying he is "deeply concerned by State Farm's unfair and arbitrary insurance rate hike." "These changes will cost Illinois homeowners hundreds of additional dollars per year without a state-based justification or corresponding increases in protection," he said in a statement. The upcoming rate increase, which starts on Aug. 15, comes as the U.S. is contending with affordability issues in its housing market, making it difficult for people to purchase homes. Millions across the country already lack home insurance coverage, putting them at risk in the event of a disaster. Specifically, 11.3 million U.S. owner-occupied homes are uninsured, according to the latest LendingTree study. Read On The Fox Business App California Approves State Farm's Request For Double-digit Insurance Rate Hike But State Farm said the uptick in costs reflects the risk the company sees in the state. The company said home insurance claims costs are exceeding premiums collected in the state, and that last year, those total costs amounted to $1.26 for every dollar in premium it collected. "Such losses are unsustainable," the insurance giant said. Additionally, the costs of materials and labor have risen, which is further driving up costs to repair or rebuild homes. The company also blamed the increase in the number of damaging storms, saying it paid more in hail damage claims in Illinois than any other state except Texas. "The core promise of homeowners' insurance, that your insurer pays your claim according to your policy, only works if the policy's rates match the underlying risk. Accurate, risk-based pricing makes sure that insurers like State Farm can pay claims during some of life's toughest moments for policyholders," the company said. State Farm Executive Fired Over Comments On Premium Hikes After California Wildfires Redfin chief economist Daryl Fairweather told FOX Business that although Illinois doesn't get hurricanes or wildfires, homes in the state still have climate risks. "Severe thunderstorms that bring hail and high winds are becoming more of a problem for both homeowners and insurers, along with other disasters like flash floods and derechos," Fairweather said. She agreed with the company, noting that the rising cost of home repairs has also risen after disasters due to inflation. On top of that, immigration crackdowns are making it more expensive to hire laborers, further driving up insurance costs, according to article source: State Farm to hike home insurance rates by 27% in this state Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
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Prince Harry And Meghan's 'Peace Talks' Have A Lot To Do With Their Expiring Netflix Deal, Expert Claims
Speculation of a reconciliation between Prince Harry and King Charles is growing amid reports that the duke and his wife, Meghan Markle, will not be renewing their $100 million deal with Netflix. Royal experts suggest financial pressures may be prompting the Montecito-based couple to reconnect with the monarchy. Meanwhile, Prince Harry and Meghan's underperforming Netflix projects and past loss of their Spotify deal raise questions about sustaining their lifestyle without royal support or new lucrative deals. Royal Expert Links Prince Harry's Reunion Talks To Expiring Netflix Deal A Royal expert has weighed in on the growing speculation surrounding potential reconciliation talks between Prince Harry and King Charles, offering a theory that ties the rumored peace efforts to the Duke and Duchess of Sussex's fading Netflix deal. Recent sightings of senior aides from both camps meeting in London have fueled rumors that discussions are underway to mend the strained relationship. Speaking on The Sun's "Royal Exclusive" show, author and royal commentator Robert Jobson suggested that the timing may not be coincidental. According to Jobson, with Harry and Meghan's multi-million-dollar Netflix contract reportedly approaching its end, the couple may be seeking renewed financial support from the monarchy. "Well, the deal was always set at about $100 million, wasn't it?" he explained, noting that much of the money was tied to specific production obligations. "And the talk of that figure sort of blew a lot of people's minds, but I think that was for productions and things that they're supposed to have done." He added, "Where does it leave them? Probably with a bit of a bowl out, looking for some handouts. Maybe that's why they were over with their staff, they were over here having discussions with the King. I don't know." Royal Experts Question How Prince Harry And Meghan Markle Will Fund Lavish Lifestyle After Losing Major Deals Jobson continued his commentary by highlighting the financial challenges the Sussexes may now be facing. "The reality is in the past they got support from the King and the late Queen, and they said they were going to go and make their way," Jobson noted. "They've lost Spotify, they've lost Netflix. They can't rely on the spare money forever, can they?" Also weighing in during the segment was Sky News' Royal correspondent Rhiannon Mills, who raised similar concerns about the couple's future income. With their Netflix contract set to expire in September, Mills questioned how they plan to maintain their costly lifestyle. "It's just fascinating," she remarked. "They have this very expensive lifestyle. They have to pay for their security and pay for that big mansion. How do you kind of keep the money coming in?" Meghan Markle's Independence May Pave Way For Harry's Reconciliation With King Charles, Says Royal Expert Meanwhile, one royal expert believes that any reunion between Harry and Charles is unlikely to fully reintegrate him into the royal fold. According to royal historian Dr. Tessa Dunlop, it could be Meghan's focus on building her own independent career that's prompting Harry to revisit family ties. In an interview with The Mirror, Dunlop suggested that Meghan appears content far from palace life, and that could be opening the door for Harry to reconnect. "Love her or loathe her, Meghan has found her happy place and it has nothing to do with the Royal Family," Dunlop said. "As Ever, raspberry jam, beige ensembles, and over-emotive podcasts might not be your thing, but they are working for California's Princess." She added that Meghan's self-sufficiency could actually help ease tensions between Harry and his father: "And before any bilious naysayers butt in, this is good news for a future rapprochement between Harry and the King. The two men have a chance to work things through. And surely everybody wants that?" Prince Harry And Meghan Markle's Netflix Deal To End Amid Poor Viewership Recently, reports surfaced indicating that Netflix has opted not to renew its multi-year partnership with Harry and Meghan, which is set to expire in the coming months. The original deal, signed in September 2020, was estimated to be worth around $100 million and aimed to produce a range of content for the streaming giant. Throughout their collaboration, the Sussexes released three key projects: their docuseries "Harry & Meghan," Meghan's lifestyle show "With Love, Meghan," and a documentary centered on Harry's passion for polo, simply titled "Polo." However, despite the high-profile nature of the partnership, the couple's projects reportedly underperformed. "With Love, Meghan" placed 383rd in Netflix's viewership rankings, while "Polo" fell even further, landing in 3,436th place with only around 500,000 views. Netflix Execs Feel 'They've Got All They Can' From The Sussexes, Source Claims Harry and Meghan's decision to pursue deals with streaming platforms was addressed by the prince during the couple's 2021 interview with Oprah Winfrey. At the time, he revealed that financial independence became urgent after the Royal Family cut them off, leaving them to cover their own security expenses. That was "never part of the plan," Harry said of their commercial ventures. "That was suggested by somebody else by the point where my family literally cut me off financially, and I had to afford security for us." Now sources claim Netflix is done with the couple as "they've got all they can" from the Montecito-based royals. "They're not unhappy with how things turned out — they got those initial hits, and produced one of the most talked-about shows of all time," a source told The Sun. "The content got weaker from there on, but, frankly, for £20million a year, anything was better than nothing." Solve the daily Crossword
Yahoo
2 hours ago
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San Angelo restaurant looking for new owners
The Old Central Firehouse Pizzeria & Taproom in San Angelo is looking for new owners. The pizzeria posted on its Facebook page Wednesday that the owners were listing their firehouse at 200 S. Magdalen St. for sale. "It is a tough decision for our family to make, but our prayer is that the next owners will have the same love and respect that we have for this building and will continue to serve San Angelo," the post stated. "We are still open for business and have no plans of closing down. Normal business hours will proceed." Owners Michele and Jody Babiash opened the pizzeria in 2019 and opened Lakehouse Pizzeria and Taproom at 7401 Knickerbocker Road on July 4. The lakehouse property will not be for sale, according to Facebook. The pizzeria is attached to a bed and breakfast, which is also on the market. Jody took to his personal Facebook stating the business will continue as normal until it is sold. "We are not selling because we have to," he said. "In fact, it's the opposite. For us, personally, it is the best time to sell. If we do not get a buyer, things will continue normally. We have worked extremely hard to create the best pizza and atmosphere San Angelo has experienced in a while." He said as far as operations, it is up to the new owner to decide if the pizzeria will continue. According to the real estate listing on ERA Newlin's website, the building is selling for $3.5 million. More: Will the July 4 flood affect renovations to the coliseum? Here's what we know More: Crystal King of Central High School named assistant principal of the year This article originally appeared on San Angelo Standard-Times: Pizzeria & Taproom goes on the market, looking for new owners Solve the daily Crossword
