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...Aspen is owned by private equity group Apollo and sells insurance and reinsurance through the Lloyd’s of London market as well as in Bermuda and the US....
...But Direct Line shareholders would still be taking half the £3.1bn value in Ageas equity....
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
...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 —...
...Barclays is relying on American consumers to help it achieve that aim and is targeting an $8bn increase in US credit card lending in the next three years....
...Big private equity-cum-asset managers buy insurance companies (see also: Apollo/Athene, Brookfield/American Equity) not to cross-sell, but to gain a source of stable capital....
...Employee ownership accounts for a third of Howden’s shares, alongside external minority shareholders including private-equity groups General Atlantic and Hg....
...The finance chief of Italy’s biggest insurer has expressed concerns about potentially conflicting interests when life insurance companies are owned by private equity funds, as anxiety grows about the consequences...
...The answer starts with the dumping of UK equities by UK pensions and insurance companies....
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...Credit card companies are high-margin businesses, with returns on equity far above those elsewhere in the banking sector. Amex reported a 33 per cent fourth-quarter return on average common equity....
...Also in the group is Manuel Sánchez Rodriguez, a former top executive at Spanish bank BBVA and a board member, since 2018, of the US government-backed mortgage insurance company Fannie Mae....
...A wave of insurance brokerages including Hub Group and Integrity Marketing Group have taken private equity cash....
...But it’s insurance — you should pay for insurance, you shouldn’t get paid for it. Nassim would say, well, there is a fair amount of alpha to how you construct the options strategies....
...Nearly half came from its Athene insurance unit....
...“The whole thesis is around buy and build,” one lender to private equity firms said. “You buy in at four times [earnings] and then flip the whole company at 15 times [earnings].”...
...The strong recovery of the equity markets has provided a window to take the company public, but the shareholders — CVC and the Kreke family — aren’t taking anything for granted....
...McClory, an Italian-American investment banker — and self-described venture philanthropist — who is also managing director, head of equity capital markets and head of China at US underwriter Boustead Securities.https...
...Stock watchers are used to European equities being pipped to milestones by fast-growing American indices....
...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....
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...Private equity boss boosts holding The debate around private equity’s performance in a higher interest rate environment continues....
...However, it remains unlikely that shipping companies will return to the Suez Canal, security experts say. 4....
...London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies...
...“It’s everyone from insurance companies, [to] sophisticated family offices and even sovereign wealth funds.”...
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