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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....
...A-Cap owns five insurers: Sentinel Security Life, Haymarket Insurance and Jazz Reinsurance in Utah, as well as Atlantic Coast Life Insurance and Southern Atlantic Re in South Carolina....
...Private capital groups have swept into life insurance since the financial crisis, with firms as big as Apollo, Blackstone and KKR either acquiring life insurers — providers of annuities and other products...
...An important financial backer of billionaire Josh Harris’s new asset management venture has received a rare public rebuke from Brookfield Asset Management, which complained that AEL, a life insurance company...
...’s life....
...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...
...A-Cap controls life insurers based in Utah and South Carolina. A-Cap chief executive Kenneth King late last month told insurance agents that AM Best’s downgrade was unwarranted....
...This means that offloading liabilities, and the assets backing them, to insurance companies is becoming a viable option for more businesses....
...I have asked our financial adviser if it would be worth my husband buying an annuity with some of his invested Sipp given its mediocre performance and the high annuity rates currently available....
...In the first half of the year, the company completed the £250mn acquisition of Sun Life of Canada UK, and Briggs expects more deals as inflation adds to life insurers’ costs....
...of Athene, Apollo’s life insurance and annuities subsidiary....
...There is life for a chief executive after investor call awkwardness. And it can be lucrative....
...Brookfield has offered to acquire American Equity Investment Life for $4.3bn, making it the latest private capital manager looking to expand in credit investing by adding retirement annuity and life insurance...
...At MetLife, Bhalla was heavily involved in separating its retail life insurance business into the publicly traded Brighthouse Financial, where he became finance chief....
...But unlike regular investment banks, groups such as KKR — which has diversified to include a $200bn credit investment business and its Global Atlantic life insurance affiliate — can do it all in-house, Lex...
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...miranda.green@ft.com Pilita Clark will return next week...
...Addy Loudiadis is stepping down as chief executive of Rothesay, a group she co-founded within Goldman Sachs 15 years ago and has since turned into the largest UK pensions insurance specialist....
...If they do, and they have a low-cost fund manager, and they know they will die at average life expectancy, they will have an income in retirement much higher than the annuity....
...As DD’s Sujeet Indap and Mark Vandevelde have chronicled for years, firms like Apollo, Blackstone, Carlyle and several others have built big life insurance and annuities businesses to support the hundreds...
...It wouldn’t accept insurance or take money from pharmaceutical companies. And it would have its own medical advisory council as an alternative to the US Centers for Disease Control and Prevention....
...pilita.clark@ft.com @pilitaclark...
...Following the announcement, annuity sales plummeted and the Financial Conduct Authority (FCA) estimates that over £45bn has been “flexibly” withdrawn from pensions since implementation in 2015....
...In February, Mick McAteer, a former UK regulator who is now co-director of the Financial Inclusion Centre think-tank, warned that the reform could weaken consumer protections while providing a windfall for...
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