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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....
...Influential shareholder adviser Institutional Shareholder Services has clashed with two of Germany’s biggest blue-chips over a lack of boardroom independence, recommending the chairs of BASF and Munich Re...
...The $91.6mn bond was underwritten by a subsidiary of the Chubb corporation....
...BHP has proposed buying rival Anglo American in a £31bn deal that provoked a backlash from the South African government and leading shareholders....
...This year it did the biggest UK deal of its kind, when general insurer RSA offloaded £6.5bn of liabilities to the group....
...Some bulk annuity providers such as Aviva and Legal & General are part of broader groups offering other types of insurance and investments but PIC, founded in 2006, is a privately owned specialist in the...
...Legal & General’s latest standard annuity rate is 6.45 per cent, 30 per cent higher than it was in April 2022. But annuity sales fell by a shock 14 per cent....
...Next week the Portuguese executive returns to London to take up a less familiar challenge — running one of the UK’s most prominent insurers, Legal & General....
...Rachel Reeves, the UK’s shadow chancellor, has promised no rise in corporation tax from its current rate of 25 per cent under a Labour government if the party wins the general election later this year....
...The proposal is likely to cause controversy in South Africa ahead of the country’s general election in May....
...The country’s Public Investment Corporation is Anglo’s biggest shareholder....
...Chancellor Jeremy Hunt has raised the possibility of further tax cuts before the next general election as he counts on recent reductions to national insurance and the prospect of lower interest rates to...
...A new €1.5bn fund, its first targeted specifically at financial services companies, would capitalise on Cinven’s “proven track record” investing in the sector, said Caspar Berendsen, a senior dealmaker at...
...Standard Life offered annuity services on the open market until 2017, when it replaced it with a multi-asset strategy for retired investors....
...“We expect the chancellor to cut taxes again before a likely October or November general election despite borrowing overshooting his forecasts,” Wood added....
...The biggest, Legal & General, trumpeted the pick up in annuities demand on Wednesday. Ultra-low interest rates previously ensured no one bought annuities if they could help it....
...On Thursday, March 28, a group of powerful Delaware lawyers put in motion a plan to make a series of changes to the state’s eminent corporate code, known as the Delaware General Corporation Law....
...In the early postwar decades, America’s large multi-divisional corporations, of which General Motors was the best-known example, were seen in Europe as the model for how big business should be run....
...PIC’s £39bn in insurance obligations and £44bn investment portfolio is a meaty opportunity for Apollo’s “retirement services” business, which specialises in annuities....
...He quotes the WTO director-general’s comments that “it sends a signal to business on what they need to do. Two years is a very reasonable timeframe.”...
...Reeves said the commitment on corporation tax rates, should her party win the general election this year, would provide business certainty in the UK after years of post-Brexit upheavals....
...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....
...The three other legislative bills aim to “end tax breaks for Chinese equities, restrict sanctioned Chinese companies’ access to US capital markets, increase transparency on risks to American corporations...
...The US Federal Deposit Insurance Corporation is working on proposals aimed at ensuring asset managers do not seek too much influence over the banks in which they hold large stakes....
...in this year’s general election....
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