Hints and tips:
...Much of this year’s cascade into money market funds in the US has been driven by retail investors rather than corporate treasurers, mutual funds and insurance companies....
...Five long positions in five very different industries (property casualty insurance; discount retail; health insurance; aerospace and defence; travel)....
...Groups including Apollo, Blackstone, Carlyle and KKR have flooded into insurance since the global financial crisis. How to curb basis trade risk?...
...“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 failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...Until then, you can reach Sid and I at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
...Investors have pulled a combined $100bn out of US bond mutual funds and exchange traded funds this year, according to the Investment Company Institute....
...In other words, Fidelity was a major player but in terms of sheer size it was not even within touching distance of the big bank trust departments, insurance companies, or many direct, “pure” asset management...
...Two decades ago, HSBC made a bold gamble to recapitalise an ailing Chinese insurance firm, Ping An....
...The queen of the bull market still has faith Cathie Wood was “born with the gift of faith”, she once told an interviewer on the podcast Jesus Calling....
...The company has a presence in retail finance, life insurance and general insurance....
...Companies that sell software to insurance groups have also fared better....
...“The bull market is broadening and becoming stronger.”...
...The strength of its mutual structure and a diversified model offering everything from savings and investments to insurance are rewarding investors with outperformance....
...Alan Ruskin at Deutsche Bank argues that optimism in an eventual V-shaped recovery is “next to impossible when the real economy is only starting the downside of the V at a historic pace of descent....
...Not everyone will want to be locked in a monetary union with countries like the Netherlands, whose prime minister is ideologically opposed to mutual risk-sharing....
...Our insurance team’s favorite life companies are Prudential and ASR We remain overweight of P&C Defensive: The sector should be agnostic to the cycle (having no correlation with HY spreads and PMIs) yet...
...• Funds flow to equities relative to bonds has never held up this well (given performance and low bullish sentiment) because: i) bonds risk no longer diversifying, and ii) pension/insurance companies’...
...Polo Tang of UBS remains a seller: [V]isibility on the bigger picture issues remains limited....
...Equity, bond and credit mutual funds all had material outflows this week while money market funds had the biggest inflows on record, at $137bn....
...From what we see,the company’s current approach to fixed-cost allocation is completely appropriate, but the effects are magnified by effectively being a one-product company....
...Rodney Cook has quit as chief executive of Just Group after a turbulent year for the life insurance company....
...Rotork has the single largest exposure in our coverage (~50% v 60% in 2014 though)....
...; (iv) assist in the payment of sickness benefits; and (v) protect supply-chain financing in response to the coronavirus....
...The mutual life insurance and financial services group has sounded out advisers about a disposal, said two people familiar with the matter....
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