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...The UL network traces its roots to a late 19th century effort to help insurance companies save money by testing electrical products for fire risk....
...They seek regulatory certainty, political risk insurance and foreign exchange risk mitigation....
...“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....
...alike,” said Mike Riddell, a bond fund portfolio manager at Allianz Global Investors....
...a company to house Eurovita’s life insurance policies....
...FDUSD is backed by reserves comprising low-risk assets, such as short-term U.S. treasury bills, as well as cash and cash equivalents in U.S. dollars....
...Under-insurance is a vast problem in the island nation; 95 per cent of those affected by 2021’s Hurricane Elsa did not have insurance....
...Bankruptcies have been rising across much of the world, according to German insurer Allianz, which forecast a 6 per cent increase in global insolvency numbers last year and a 10 per cent rise this year....
...Most agree that an insurance sector that took in about $12bn in premiums last year, according to figures from S&P Global Ratings, is by no means large enough to cover a systemic cyber attack....
...the world’s riskiest borrowers, according to S&P Global Ratings....
...Deposit insurance had killed the retail run — but was no match for the growth of institutional cash pools ahead of the Global Financial Crisis (GFC)....
...According to S&P Global Ratings, average discounted loan recoveries for 2022 to 2023 were just 61.5 cents on the dollar, nearly 12 percentage points below their long-term average to the end of September....
...And here’s what else we’re keeping tabs on today: Economic data: S&P Global publishes its manufacturing purchasing managers’ indices for the US, Russia, Canada and Greece....
...Insurance companies like Prudential, MetLife and Allianz may push deeper into the alternatives market by striking investment partnerships with large private capital groups, or by acquiring them outright....
...Yet in the fourth quarter of 1974, fearful insurance companies, pension funds, investment trusts and unit trusts together sold more shares than they bought for the first and last time during the decade....
...Rating agency S&P Global cited these as a reason for downgrading five regional banks earlier this summer....
...Charles Schwab predicts a “gradual U-shaped recovery composed of seemingly chaotic movements in economic data with turning points in policy rates and earnings growth.”...
...“The higher-for-longer environment is leading to a major shift in the corporate ecosystem,” wrote Allianz Global Investors global chief investment officer for equities Virginie Maisonneuve....
...That said, another way to see that we are not in a profits recession: only 68 companies in the S&P had profits fall sequentially in both of the past two quarters....
...The risks became apparent in 2022, when China’s lockdowns and export restrictions caused graphite prices to more than double within a year, putting enormous strain on other global EV industries....
...But the case of food companies is extreme. Part of it can be explained idiosyncratically. Several of the S&P food stocks are simply performing badly....
...On all types of ships, the number of fires reported last year increased 17 per cent to 209, the highest level for a decade, according to a report published in May by Allianz....
...The U-turn puts S&P at odds with debt rating rival Moody’s, which still rates ESG criteria on a one to five scale. S&P is influential, with debt ratings that can affect a company’s borrowing cost....
...more than downside risk”....
...Ratings have a significant effect on interest rates for borrowers who don’t print their own currency / run the world / etc, so additional downgrades from S&P Global or Moody’s would presumably matter a bit...
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