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...He was most recently chief executive of American Equity Investment Life, which was just acquired by Brookfield for $4bn....
...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....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...In a lawsuit filed last week, Atlantic Coast Life Insurance and Sentinel Security Life Insurance, part of US insurance group A-Cap, asked a New Jersey court to stop AM Best from “issuing the rating it has...
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...Taking out life insurance on a stranger is “anathema to hundreds of years of public policy” and a violation of the Delaware Constitution, the suit says....
...As such, tech companies with founder bosses as well as PE-backed companies, he said, may be suddenly more reluctant to subject themselves to the constraints of Delaware law and could then domicile in the...
...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....
...The steep rise in the cost of home insurance in the US and elsewhere can be traced, in part, to a move two years ago by P&C reinsurers to increase the price of cover against natural catastrophes and toughen...
...“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....
...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...
...In addition to taking on life insurance premiums through reinsurance agreements with primary insurers, it plans to offer outsourced investment management to insurers looking for expertise in private assets...
...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 —...
...Since his diagnosis for bladder cancer in 2019, Michael Caratti says he has undergone “a 180 degree change in my life”....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...News round-up Freshfields’ former tax partner sentenced to 3½ years in jail (FT) Zurich’s sale of $20bn life insurance book to PE-backed group collapses (FT) Sotheby’s cleared of art fraud in Russian...
...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....
...Katerina Trajchevska, co-founder of Delaware-based Adeva, says the pandemic showed potential clients that remote work can be productive....
...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....
...But Kuvare has established itself as a canny specialist in the bespoke assets that life insurers invest in. Kuvare joins a growing trend....
...The Oversea-Chinese Banking Corporation, Singapore’s second-largest lender, has made an offer to fully acquire its life insurance subsidiary Great Eastern Holdings....
...increase this year, according to industry forecasts, even as politicians and consumer groups voice concern about the impact of rising costs on the millions of households reliant on a car for work and family life...
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