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...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 managers use Bermudian operations to reinsure life insurance and annuity business from companies that they already own as well as from rivals....
...Private capital investors have acquired more than $900bn in life and annuity assets in western Europe and North America, according to McKinsey & Company....
...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....
...Royal London, another UK life insurer, said Friday it would enter the bulk annuities market in earnest....
...insurance company....
...Apollo, alongside its insurance affiliates Athene and Athora, wants to be a superior investor of long-dated insurance and pension liabilities....
...Apart from the investment manager, Kuvare also sells annuities. Blue Owl will make a separate $250mn injection into that annuities vehicle. It is worth the extra effort....
..., Apollo’s life insurance and annuities subsidiary....
...’s life....
...In 2019 Standard Life was fined £30mn for mis-selling annuities to customers over the phone between 2008 and 2016....
...“People hear pay cheque for life, they think ‘great’. Then they hear the word annuity,” Ackerly said....
...capital, it’s possible to buy a purchased life annuity (PLA) using a cash lump sum....
...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 —...
...Canada Life reported annuity sales doubling to £441mn in the first half of the year, compared with the same period in 2022....
...“As that whole market matures . . . does [L&G] just become a run-off company? It’s not like that’s tomorrow, but it is something that the company needs to start thinking about.”...
...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....
...Last year, Apollo completed its acquisition of Athene — a life and annuities insurer it created in the wake of the 2008 financial crisis — as chief executive Marc Rowan prioritised credit investments as...
...To be fair to Calhoun, the headline number for his remuneration package for 2023 looks significantly more generous than it was in real life....
...Games tend to be made for specific hardware, and console generations move on fast; there’s no assurance that the games you buy for your current PlayStation will be playable on the next....
...Apollo’s core liability base, its $250bn Athene annuity business, is not well understood by all Wall Street investors. Shares in Apollo are merely flat this year....
...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...
...“It answered where I think the market is, with people wanting the assurance of a look of the past with some creativity.”...
...Companies: American Airlines will hold its first investor conference since the pandemic. The company is expected to share its long-term strategy to expand its business and earnings....
...So it’s perhaps no surprise that insurance companies are reporting much bigger sales of annuities....
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