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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...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....
...Imogen West-Knights is co-author of the game ‘How We Know We’re Alive’ and the novel ‘Deep Down’ Join our online book group on Facebook at FT Books Café and subscribe to our podcast Life & Art wherever...
...Private capital managers use Bermudian operations to reinsure life insurance and annuity business from companies that they already own as well as from rivals....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...Private capital investors have acquired more than $900bn in life and annuity assets in western Europe and North America, according to McKinsey & Company....
...Apart from the investment manager, Kuvare also sells annuities. Blue Owl will make a separate $250mn injection into that annuities vehicle. It is worth the extra effort....
...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 —...
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...’s life....
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...In 2019 Standard Life was fined £30mn for mis-selling annuities to customers over the phone between 2008 and 2016....
...“People hear pay cheque for life, they think ‘great’. Then they hear the word annuity,” Ackerly said....
....— Euclid Elk Mountain crests above a frozen moonscape, like a giant stone whale breaking through the snowy scrub plains of Carbon County, in southern Wyoming, in the great American West....
...The Sleeping Beauty offers one of the great ballerina roles and Birmingham Royal Ballet’s production provides the perfect setting....
...The reinsurer was at the heart of 777’s “insurance funding model”, according to 2021 pitch documents that said 777 Re sat between third party insurers and 777 portfolio companies....
...capital, it’s possible to buy a purchased life annuity (PLA) using a cash lump sum....
...Canada Life reported annuity sales doubling to £441mn in the first half of the year, compared with the same period in 2022....
...This deluge of feeling took place in real life, too....
...A body representing global insurance regulators has called for “enhanced supervision” of private capital-owned life insurers, citing potential “conflicts of interest” and “increased risk-taking”....
...However, “[for] covering a T-shirt, that’s great”, Mulvihill said of the seaweed substitute, adding that he was familiar with Sway but had not invested in the company....
...The company turns out to be one of the most interesting adventure operators I’ve encountered, but remains obscure beyond its native land....
...“But Dai-ichi Life is clearly on the conservative side and people will look at it and say that’s Japan Inc. It’s great news for M&A in Japan.”...
...Companies looking to do these so-called bulk annuity deals need to make the assets as attractive as possible to potential buyers....
...insurance company....
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