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...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...Lloyd’s of London and Arch Insurance are listed as representative defendants on behalf of the multiple insurers on the policies....
...There, an ominous-looking chart started doing the rounds, showing that the cost of buying insurance against a default on debt by the German bank had rocketed higher....
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Kathleen Donnelly KC acted for 555 sub-postmasters in a 2019 High Court case, known as Bates v Post Office, that led to revelations the company had pursued thousands of people between 2000 and 2014 with...
...Terminal V did not respond to a request for comment....
...That point is critical to insurance companies buying such debt, which typically must own safer assets. The funds’ bets on music rights have similarities to their wagers on commercial real estate....
...Globally, insurance companies manage assets of about $44tn, according to the International Association of Insurance Supervisors....
...Carlyle recently beat out HarbourView and Blackstone’s Hipgnosis for Katy Perry’s catalogue with a bid for $225mn, according to several people familiar with the auction....
...The impenetrable job definition of the late actor Matthew Perry’s Chandler character in Friends reflected the work-to-live mentality of a different office age, writes columnist Emma Jacobs, presaging the...
...UBS’s second-quarter results last week included the effects of its June shotgun wedding with arch-rival Credit Suisse....
...Here Portaluppi designed a major insurance building with (yet another) triumphal arch making a big urban statement and framing the view of the Chiesa Santa Maria presso San Satiro....
...Royal Insurance merged with Sun Alliance in 1996. Turning to the 2023 list, HSBC bought the Midland Bank in 1992....
...Holdings of UK-listed companies by British pension and insurance funds have plunged from about half of their portfolios to 4 per cent over the past two decades, according to data from Ondra....
...He had done one stint in the CFO role, from 2018 to 2021, having joined AIG from Arch Capital....
...And some concrete investment has been announced: $50mn from the New York State pension fund; £4mn from insurance technology company Frontline; a Bank of America-funded skills scheme for students from disadvantaged...
...They say that the fees they can charge in most cases are capped at about €7,000 and are often paid by their clients’ insurance. “It’s cost intensive,” said Cäsar-Preller owner Joachim Cäsar-Preller....
...“Behind it all, whoever is making the decisions, thinks that all of these companies are very lowly valued, so they think there is a bit of insurance in whatever they do from having stocks that have gone...
...“Not a single one of the clients who are in these funds would pay these rates for any other type of insurance, certainly not term [life] insurance,” she points out....
...The mayhem that started with Silicon Valley Bank in the US and resulted in this weekend’s forced sale of 167-year-old Credit Suisse to arch-rival UBS will put a stop to that shift....
...On the other side of town in Barlaston, Kate Turner, chief curator at the V&A Wedgwood Collection, has retrieved a leather-bound ceramic pattern book from the company’s archives....
...Even as it is swallowed up by arch-rival UBS, it is becoming an unlikely leader in innovative deals that repackage emerging market debt in exchange for promises to protect biodiversity....
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...The Federal Deposit Insurance Corporation estimates that US banks’ unrealised losses on securities were $620bn at the end of 2022....
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