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...Assured Guaranty had £10.6bn of UK water company exposure in total on its books at the end of March this year....
...JAB says it is better positioned than other private capital competitors to become an owner of an integrated insurance and asset management company....
...“There has not been a lot of new companies and additions to capital, which given the current levels of profitability . . . you would expect [to] happen....
...Fidelis will work with Hampden, the largest agency at Lloyd’s allowing wealthy investors to participate in the market by putting their capital against insurance risks....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...New York-listed insurer Assured Guaranty had more than $12bn of exposure to UK water companies at the end of 2023, with more than $2bn to Thames Water alone....
...Although JAB has some exposure to the insurance business already — namely, through a stable of pet insurance companies — it’s limited....
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Under such schemes, governments share losses from natural disasters with the insurance sector, or create structures to pool risk....
...“The large capital base of National Indemnity and the broader Berkshire allows the group to take on more investment risk than is typical for insurance companies,” said Bruce Ballentine, senior credit officer...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...But a less-followed risk is adding to unease at companies offering life and health insurance: scientists’ warnings, and research findings, that a warming climate is causing an increasing number of excess...
...It is the second big transaction by a private capital-backed firm to take on long-term life insurance business that has failed in recent months....
...A deal would give Connecticut-based Eldridge Industries a foothold in the fast-growing market for lending to privately held European companies, building on its investments in insurance, asset management,...
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...Bain & Company on Thursday....
...In April, Blue Owl Capital spent $750mn buying Kuvare Asset Management, a decade-old asset manager dedicated to insurance, which resembles Bhalla’s venture....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...The market’s return on capital was just 3.6 per cent since 2017, even taking account of last year’s 25 per cent return....
...Premiums from its general insurance division, which includes car insurance, also grew....
...New York-listed insurance company Assured Guaranty has amassed more than $10bn of exposure to some of the most heavily indebted UK water utilities, underlining how the risks in the troubled sector have spilled...
...Keese said he expected the cost of insurance to “level out” over the next four to five years rather than fall, arguing that reinsurers had failed to earn their cost of capital in recent years....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Unhedged: Some of your competitors, rather than working on behalf of insurance companies, own insurance companies, or have insurance subsidiaries. I wonder why Blackstone hasn’t done that....
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