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...The company’s shares have risen almost 75 per cent over the past year, outpacing the benchmark S&P 500’s 22 per cent gain. Its public valuation now stands at nearly $27bn....
...A-Cap entities directly funded some of 777’s sports investments, including providing what appears to be $60mn in short-term working capital finance to Nutmeg Acquisition, an entity involved in 777’s football...
...Geico and Berkshire Hathaway Specialty Insurance declined to comment. Gen Re did not respond to requests for comment....
...Sources tell Eric and Ian there are three leading candidates, including Peter Eastwood, who runs the fast-growing Berkshire Hathaway Specialty Insurance unit, and Charlie Shamieh, chair of Gen Re....
...The attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...The “mortality risk assets” which FCI sources and “isolate[s],” are simply Wall Street jargon for STOLI policies, such as the illegal human life wager taken on Mrs. Barotz life....
...Slowing growth of electric vehicle sales has caused a series of corporate U-turns. While sharp swerves are never fun, the change in direction is sensible....
...The expense ratio — 34.4 per cent last year — is likely to fall by two percentage points over the next few years, says S&P....
...“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 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....
...Investments including Mastercard, Visa and healthcare company DaVita helped the two managers beat the S&P 500 in 2012 and 2013....
...A state-owned energy company called GB Energy will cost a one-off £8.3bn and a £7.3bn “national wealth fund” will be set up to invest in the decarbonisation of heavy industry....
...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...
...Their performance was helped by a few big successes such as insurance group Skyward Specialty, which has risen 125 per cent since listing a year ago, and Rayzebio, which is up 244 per cent, driven by news...
...The firm’s ties to A-Cap, an insurance group led by chief executive Kenneth King, have also raised concerns....
...But, as S&P puts it when explaining why U.S....
...Lloyd’s insurers Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among those that have pledged to hold the risk for a total of £500mn of insurance coverage written in partnership with these...
...Paxos Trust Co.’s issuance of U.S. dollar-backed stablecoins has been under the supervision of the New York State Department of Financial Services (NYDFS) since 2018....
...Galicia will acquire the entire HSBC Argentina business, including banking, asset management and insurance, HSBC said....
...Relations between politicians and executives hit their nadir in 2018 when then foreign secretary Boris Johnson reportedly said “fuck business” in response to a question about companies’ concerns over Brexit...
...In full-year results on Wednesday, the life insurance and asset management group reported a 45 per cent rise in new business profit — a measure of expected earnings from newly sold products — to $3.1bn,...
...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)....
...This is roughly comparable to average default rates observed in companies that receive a B credit rating from S&P (3.4 per cent) and a B3 from Moody’s (4 per cent)....
...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....
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