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...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....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The company’s shares were down more than 2 per cent in morning trading in London....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...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 —...
...A unit of UnitedHealth, the gigantic American conglomerate, suffered a ransomware attack, preventing the insurance payments. Thankfully, her operation eventually took place....
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Video produced by Tom Hannen Follow @FTMag to find out about our latest stories first and subscribe to our podcast Life and Art wherever you listen...
...Premiums from its general insurance division, which includes car insurance, also grew....
...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...
...This could be covered with a life insurance policy for this period only, since a policy for a fixed term is generally cheaper than a whole-of-life policy....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...National General implemented rate increases at 10% in 2022 and an additional 12.8% in 2023....
...He still has a small security team, who are hovering nearby, but no longer has a staff to schedule his life. Like many “spectators”, he now relies on Google....
...Employee ownership accounts for a third of Howden’s shares, alongside external minority shareholders including private-equity groups General Atlantic and Hg....
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...The Belgian company reinforced the idea that this is a cut-price, opportunistic bid, with a second cash-and-shares proposal of about 239p per share....
...The point of the temporary accounting-rule change, from the National Association of Insurance Commissioners, was to shield life insurers’ capital from losses caused by rising interest rates....
...A body representing global insurance regulators has called for “enhanced supervision” of private capital-owned life insurers, citing potential “conflicts of interest” and “increased risk-taking”....
...Last month, Wegovy received FDA approval to help reduce heart attack and stroke risk in patients with cardiovascular disease, enabling it to be covered by insurance for the more than 50mn Americans on Medicare...
...But Kuvare has established itself as a canny specialist in the bespoke assets that life insurers invest in. Kuvare joins a growing trend....
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