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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....
...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...
...The company agreed last month to acquire Kuvare Asset Management for $750mn, extending its reach into the life insurance sector, a market coveted by many private investment groups....
...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....
...Established in 1879, the company employs more than 43,000 people selling general and life insurance products and boasts a near-$50bn equity market value....
...“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....
...In addition to taking on life insurance premiums through reinsurance agreements with primary insurers, it plans to offer outsourced investment management to insurers looking for expertise in private assets...
...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”....
...“similarities” between the sales pitch that was used then and Corinthia’s success in attracting an entire team of senior executives from Barings, which is owned by MassMutual, one of America’s biggest life...
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...But we got there in the end and here it is now, for your wintertime pleasure, and as a little insurance policy for us against losing this recipe again....
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...The firm’s ties to A-Cap, an insurance group led by chief executive Kenneth King, have also raised concerns....
...’s life....
...Barings said that in early March more than a dozen employees resigned for Corinthia, alongside global private finance co-heads Fowler and Adam Wheeler....
...“People hear pay cheque for life, they think ‘great’. Then they hear the word annuity,” Ackerly said....
...A-Cap controls life insurers based in Utah and South Carolina. A-Cap chief executive Kenneth King late last month told insurance agents that AM Best’s downgrade was unwarranted....
...He approaches co-worker Román (Esteban Bigliardi) and talks him into a deal: if he hides the money, Morán will cut him in....
...Robinson, a life-long golfer, joined Chenault and some others for two back-to-back rounds at the Augusta National course two years ago....
...Hugh Verrier, White & Case cyber security & data protection King & Spalding access to justice & civil rights Morgan, Lewis & Bockius energy transition Pillsbury Winthrop Shaw Pittman healthcare & life...
...This means that offloading liabilities, and the assets backing them, to insurance companies is becoming a viable option for more businesses....
...Contact Rothschild & Co Zeus Capital for more information. Or, y’know, don’t....
...and 18th centuries, women’s corsets in Paris were exclusively made by men; husbands laced their wives into them both as assertion of the brute force needed to whittle the waist down, and as an apocryphal insurance...
...The rising price of the life insurer comes as its overall assets have more than doubled to $158bn since 2020, causing its book value to rise....
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