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...He said the sector needs to “bring to bear” broader forms of insurance capital including from pension funds and sovereign wealth funds through a growing insurance-linked securities market....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...In a lawsuit filed last week, Atlantic Coast Life Insurance and Sentinel Security Life Insurance, part of US insurance group A-Cap, asked a New Jersey court to stop AM Best from “issuing the rating it has...
...Funabiki also praised UK regulators, which have come under criticism from lawmakers and lobby groups for being slow in approving new insurance securities, as “very knowledgeable and . . . always willing...
...A-Cap owns five insurers: Sentinel Security Life, Haymarket Insurance and Jazz Reinsurance in Utah, as well as Atlantic Coast Life Insurance and Southern Atlantic Re in South Carolina....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...In 1951, he penned a column, “The Security I Like Best”, and picked Government Employees Insurance Company, or Geico, then chaired by his mentor at Columbia University, the famed investor Benjamin Graham...
...The regulator also wants to make greater use of reinsurance markets, and aims to encourage investors to put more money into EU insurance-linked securities — such as catastrophe bonds, which pay out for certain...
...Apollo established Financial Credit Investment I (“FCI I”) in 2010 coming out of the GFC as a vehicle to acquire pools of life settlements and other insurance-linked securities from banks and other large...
...MPs last year blamed regulatory foot-dragging for London losing out on $700mn of insurance-linked securities that went to Singapore....
...most rivals, which are stuck buying Treasuries, corporate bonds and asset-backed securities)....
...He predicted that more would come from areas such as insurance-linked securities — where investors put their capital against insurance risks — leading to a “levelling of pricing”....
...“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....
...The loans are not just feeding Apollo’s wholly owned insurance operation, Athene....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...Buffett has long heaped praise on Apple’s management team and in 2022 he described the company as one of Berkshire’s “four giants”, alongside its insurance operations, the BNSF railroad and its energy and...
...For example, Irish company FBD Insurance uses AI-based security software from Smarttech247 to analyse up to 15,000 IT “events” per second on its network for potential security threats....
...Axa’s deputy chief executive, Frédéric de Courtois, said a public-private partnership on cyber is a “must-have”, given it is generally only the biggest companies, which have also invested in prevention,...
...Rossi, who became chief executive in late 2022, highlighted the group’s investment performance across its funds and the contribution from the life insurance business as the reasons behind the company’s recent...
...Insurance customers pay premiums in a predictable stream of cash, which has to be deployed in liquid securities....
...The ship is owned by Gortal Shipping, a finance company affiliated with Zodiac Maritime, a company controlled by Israel’s Ofer family....
...Earlier this week, Knight Insurance Group, one of more than a handful of companies that make up Hankey’s financial empire, put up a $175mn bond for Donald Trump, an amount the former president had to post...
...America’s home insurance crisis: Rana Foroohar uses her own experience to explain the difficulties of finding affordable home insurance in the US....
...It’s not a shock that corporate debt markets are healthy right now — economic growth is rolling along and rates markets are no longer pricing in recession, reducing companies’ incentive for waiting — but...
...That job security is starting to fade as deals disappear, Bloomberg reveals....
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