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...The pair had partnered in a multibillion-dollar unsolicited takeover attempt of annuity specialist American Equity Investment Life, which the latter fended off....
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...Presidio has long been a favourite with private equity firms. The company was bought by US buyout group American Securities in 2011 before Apollo agreed to acquire it in 2014....
...sciences and insurance....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“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....
...to life....
...I should be careful about talking about work-life balance, but the Americans just work harder.”...
...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 —...
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...But debt markets present a bigger opportunity than equity markets and insurance has proved to be a reliable source of fee-paying permanent capital....
...Rossi, who became chief executive in late 2022, highlighted the group’s investment performance across its funds and the contribution from the life insurance business as the reasons behind the company’s recent...
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...He made a distinction between private capital groups that buy insurance companies as a long-term balance sheet investment, and situations where the insurer is owned through a private equity fund with a shorter...
...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....
...Investors should be asking what distinguishes private equity from other, more traditional, investment strategies....
...investment”....
...Over the next 16 years, he spearheaded a string of deals, buying brokerage EF Hutton, investment bank Lehman Brothers, insurance firm Fireman’s Fund and other businesses that turned the charge-card company...
...Blackstone merged its credit and insurance investment operations in September in preparation for a push into asset-backed lending markets, Gray and co-founder Stephen Schwarzman have told shareholders....
...Then there is the insurance. Cars in particular may need some serious looking after....
...In the UK, in contrast, domestic equity holdings among pension funds have plunged to about 4 per cent. Meanwhile, Swedish insurance companies have the highest holdings of stocks in the EU....
...life....
...But Direct Line shareholders would still be taking half the £3.1bn value in Ageas equity....
...Art is not an investment, but unfortunately investment is an art Someone from the art world or the money world, or both, is always making the case that art is an investment, not just an adornment....
...Morgan Stanley’s chief executive Ted Pick this week argued that the “existential” need for dealmaking from companies was starting to usher in a recovery in investment banking....
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