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...The picture caption on this story has been corrected to make clear Nik Storonsky is co-founder of Revolut...
...Portfolio insurance — a dynamic hedging strategy based on stop losses which was designed to let pension funds hold a higher equity allocation ‘safely’— was deemed the villain of the 1987 crash....
...Michael Wise of the South Carolina insurance regulator said he was aware that his Bermudian counterparts were addressing issues at 777 Re, and that the state continued to “co-ordinate our efforts as necessary...
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...Barings said that in early March more than a dozen employees resigned for Corinthia, alongside global private finance co-heads Fowler and Adam Wheeler....
...from state-owned insurance companies....
...For the airline, which updated its investors on Thursday, the loss of the Airbus A350 aircraft will be covered by insurance....
...Chen Long, co-founder of research firm Plenum, said offering potential support to Vanke would be tricky for the government because other developers could question why they did not receive similar treatment...
...The Co-op’s director of pensions Gary Dewin said its deal reduced the company’s exposure to future funding risks and helped strengthen the Co-op “for the benefit of our members”....
...JAL estimated on Wednesday that the crash would result in an operating loss of about ¥15bn ($105mn), which would be covered by insurance....
...IAG was one of the main insurers behind $10bn of cover arranged for Greensill through Bond & Credit Co, an underwriting agency the Australian insurer owned a 50 per cent stake in before selling it to Tokio...
...Brandon Hall, former FMA co-head, will become deputy chief operating officer....
...Greensill had arranged trade credit insurance through Bond & Credit Co — the underwriting agency in which IAG formerly had a 50 per cent stake — to cover contracts in case of default....
...Australian insurance agency Bond & Credit Co arranged $10bn of coverage for Greensill, which specialised in supply chain finance and collapsed into administration in 2021 after its insurance expired....
...Suncorp, which is part of a broader insurance group, has held talks with Bendigo in the past but said earlier this year that a merger with another second-tier bank was not a realistic prospect....
...A new mortgage valuation will need to take place, so co-ordinate with your lender to ensure this gets booked in as soon as possible, as the offer for the new property is unlikely to be issued until this...
...It has a historically low correlation with other asset classes and acts as “insurance” during falling markets and times of geopolitical stress....
...Laura Conduit, partner at law firm Farrer & Co, says she always advises getting a survey done even if the property has a defects guarantee....
...Without it, the payments group can’t offer a full suite of lending services nor offer customers the security of the UK’s deposit insurance scheme....
...Blackstone, meanwhile, invests on behalf of insurers such as Corebridge through its insurance solutions division....
The Chinese insurer is going public with its frustrations ahead of the bank’s annual meeting next week
The separation message may ultimately be right but the messenger and its timing are not
...The company, which has grocery, funeral, insurance and legal divisions, reported flat underlying profits of £100mn and an increase in sales of £300mn to £1.5bn in 2022....
Special resolutions demanding regular review of bank’s structure and a guaranteed dividend are defeated
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