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...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...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....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...“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....
...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 —...
...Rossi, who became chief executive in late 2022, highlighted the group’s investment performance across its funds and the contribution from the life insurance business as the reasons behind the company’s recent...
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...Its share price and that of bigger rival L&G have snaked sideways for more than a year. Just trades at a 60 per cent discount to book value. Its life insurance peers are closer to parity....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...The Belgian company reinforced the idea that this is a cut-price, opportunistic bid, with a second cash-and-shares proposal of about 239p per share....
...Long-dated insurance premiums are becoming the funding of choice. The shift is sufficiently seismic that once overlooked credit firms are now the subject of bidding wars....
...for work and family life....
...The demand has helped push a number of continental European companies to issue sterling debt for the first time in recent months, including German real estate company Vonovia, German truck manufacturer Traton...
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...to life....
...A body representing global insurance regulators has called for “enhanced supervision” of private capital-owned life insurers, citing potential “conflicts of interest” and “increased risk-taking”....
...The point of the temporary accounting-rule change, from the National Association of Insurance Commissioners, was to shield life insurers’ capital from losses caused by rising interest rates....
...The finance chief of Italy’s biggest insurer has expressed concerns about potentially conflicting interests when life insurance companies are owned by private equity funds, as anxiety grows about the consequences...
...Lex looked at the evidence for the performance of this type of foundation-owned company. One surprising stat: nearly half the world’s quoted foundation-owned companies are manufacturers....
...Whether you drive a Beamer or a banger, the soaring cost of motor insurance may have caused you to gasp when your policy came up for renewal. I lost a day of my life searching for cheaper cover....
...In the US, almost a 10th — $850bn — of the life insurance market is owned or managed in partnership with private capital groups, according to the IMF....
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
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