Hints and tips:
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...Apollo has a record in the property & casualty insurance industry....
...Jefferies has named Peter Scheman as its new co-head of Americas industrials investment banking and a partner at the firm, Reuters reported. Scheman joins from Goldman Sachs....
...Ex-Barclays chief Bob Diamond’s private equity group has signed its biggest ever deal, buying a $100bn book of US life insurance business....
...Bank of America Merrill Lynch advised Atlas Merchant. The disposal leaves The Hartford, whose history stretches back to 1810, focused on property casualty insurance and employee benefits....
...Mr Greenberg created the Chubb of today when in 2015 he struck the biggest deal in property and casualty insurance history. He was CEO of Ace, the Zurich-based insurer he joined in 2001....
...He had been prosecuted after alerting shareholders to a fraud at Equity Funding Corporation of America, an insurance company....
...Chubb will give Ace a bigger footprint in the US, where it is a leading middle-market underwriter for commercial property and casualty insurance....
...He stepped down as chairman in 2006 and Citi later became one of the biggest casualties of the financial crisis, requiring a $45bn bailout....
...In property casualty insurance, periods of rising and falling premium rates, and therefore ups and downs in earnings and stock prices, come and go. In recent years, rates have been increasing....
...The primary insurers are more exposed, so the likes of State Farm, Allstate and Travelers, which have big market shares in the affected areas, will be the ones to watch....
...Bank of America and Mr Weill’s old company Citigroup....
...Smith Barney, Citigroup’s corporate and investment bank; Travelers Life & Annuity, the insurance arm of Citi, and Kidder Peabody, then the investment banking arm of General Electric....
...Over the last year, we understand that a number of AIG’s 100,000+ employees have left A.I.G. to join the company’s direct competitors in the global property and casualty and life insurance businesses....
...So if you don’t need money; if you own an office building and you have no debt and you want to borrow 40 per cent of today’s value there’s some insurance companies that will make that capital available....
...He is chairman and chief investment officer of Emerging Markets Management LLC, a US investment firm specializing in emerging market equities, and author of The Emerging Markets Century....
...merger of Citigroup and Travelers separated commercial banking from investment banking and insurance....
...LLC; Carlyle Investment Management L.L.C.; Blackstone Capital Partners V L.P.; Centerbridge Capital Partners, L.P....
...“I think the bigger holders now of securitisations are insurance companies and pension funds.”...
...By December 2001, Mr Weill even turned his back on a big part of his legacy, moving to spin off Citigroup’s Travelers property and casualty insurance arm – which had given Mr Weill his corporate name and...
...Citi named the entity containing the businesses it wants to keep “Citicorp” – just like the commercial bank that merged with Mr Weill’s Travelers insurance and investment banking operation in 1998 to form...
...During his career has covered oil and gas companies based in South America, Africa and Europe. Robert L....
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