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...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...He said the sector needs to “bring to bear” broader forms of insurance capital including from pension funds and sovereign wealth funds through a growing insurance-linked securities market....
...It is continuing to provide cover to ships transiting the Red Sea, for which insurance rates have jumped as the Houthi rebel group has attacked commercial ships....
...Boston-based Bain Capital was co-founded in the mid-1980s by Romney and a group of mostly former consultants from Bain & Co....
...Under such schemes, governments share losses from natural disasters with the insurance sector, or create structures to pool risk....
...In another big European IPO, shares in skincare group Galderma began trading in Switzerland last month....
...The events, executives say, amount to the biggest challenge yet to private capital groups’ foray into the life insurance sector....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The price rises have sparked concern among insurance buyers and consumer groups....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...Private capital firms have swept into the life insurance sector since the financial crisis, buying insurers and scooping up books of capital-intensive business that traditional insurance groups have been...
...Admiral posted group pre-tax profits of £443mn for 2023, up almost a quarter on rising car insurance premiums but below analysts’ expectations....
...Total returns for the group’s shares have underperformed the Stoxx 600 insurance sector by a third over the past three years....
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Aviva chief executive Amanda Blanc said the deal “opens up new opportunities to accelerate growth” in the group’s general insurance business....
...He predicted that more would come from areas such as insurance-linked securities — where investors put their capital against insurance risks — leading to a “levelling of pricing”....
...Best known for arranging large corporate buyouts, Apollo’s business grew quickest in its rapidly expanding insurance operations, which drew the majority of the $32bn in new capital the group raised in the...
...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....
...and workplace insurance products such as pensions....
...The wrangling as to which group was more liable “can go on quietly and sensibly, and it will go on behind the scenes”, he said....
...John Wood Group, the FTSE 250 engineering services company, should either move its listing to the US or consider a sale, activist investor Sparta Capital Management said on Tuesday....
...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....
...The group’s results were buoyed by strong growth in its credit and insurance business, which has $330bn in assets and helped propel Blackstone’s overall assets to $1.1tn....
...The group said its motor business had now “turned the corner” as it pushed up prices, adding that policies sold in the second half were estimated to achieve a net insurance margin — a new measure which calculates...
...Penny James stepped down as chief just over a year ago after the group scrapped its dividend following a period of rampant inflation in motor claims....
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