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...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Private capital managers use Bermudian operations to reinsure life insurance and annuity business from companies that they already own as well as from rivals....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...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 —...
...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....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...The city had an influx of wealth and business during the coronavirus pandemic, in part because of its favourable conditions for companies and high earners....
...The latter two are considered “core services”, because rent costs can be sticky and Americans don’t necessarily pay increases in owners’ equivalent rent in real time....
...increase this year, according to industry forecasts, even as politicians and consumer groups voice concern about the impact of rising costs on the millions of households reliant on a car for work and family life...
...“It is important that we maintain strong American steel companies powered by American steel workers,” Biden said....
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...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....
...Including mortgage payments, mortgage insurance and property taxes, he pays $3,500 per month more today than what he spent on rent at the family’s last home....
...to house Eurovita’s life insurance policies....
...She has more than $750,000 in winnings from competition (and sold her Dallas-based insurance business for more than $400mn in 2018)....
...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....
...The United Steelworkers labour union, which represents more than 1mn workers, preferred a domestic bidder, Cleveland Cliffs, during the 2023 US Steel auction....
...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....
...During the pandemic there was a steep rise in Yorkville sales, up from 693 in 2019 to 1,099 in 2021, before cooling substantially to 812 in 2022 and 594 last year, according to property analytics company...
...The pledge comes three years after the insurance market apologised for its role in the trade, which included extending crucial insurance to voyages and even insuring slaves as cargo....
...But the merger is opposed by the United Steelworkers labour union....
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...In 2019, Americans drank an average of around half a cup of milk a day, according to the United States Department of Agriculture. That is 50 per cent lower than in 1970....
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