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...Even by America’s recent standards, this creates a new kind of headache. edward.luce@ft.com...
...“If big insurance companies and friendly billionaires think he’s too big a credit risk, who might bail him out instead? What sort of collateral could Trump offer in return?”...
...And yet in 2021, the same McKinsey survey showed nearly 60 per cent of industry leaders expected North America to beat China in developing driverless car technology....
...on buyout groups’ attempts to trust-build with prudential regulators....
...AXA Millésimes, the insurance company’s wine division, is far lower-key than Bernard Arnault’s vast LVMH empire, but has its own investment in Outpost on Howell Mountain, east of the valley....
...Future of Asset Management North America Hosted by the Financial Times, in collaboration with Ignites and FundFire, Future of Asset Management North America is taking place on September 27-28 at etc.venues...
...“Winner” indicates that the organisation won an FT Innovative Lawyers North America award for 2023. The full list of award winners is available here....
...In a speech earlier this year, the Bank of England’s Prudential Regulation Authority, which oversees insurance companies, called for moderation “in the face of considerable temptation” to do deals....
...The excess supply led to a 60-per-cent slide in the price of lithium and drove bankruptcies of companies including Alita and Nemaska in Australia and Canada, respectively....
...But some of Hankey’s companies have been accused of being dishonest with their customers, too....
...And a new generation of leaders are increasingly embracing strategies employed by Warren Buffett, the architect of America’s pre-eminent investment conglomerate, reports DD’s Antoine Gara....
...Martin Gruenberg, chair of the Federal Deposit Insurance Corporation, warned of “significant downside risks to the banking industry”....
...On the insurance side, none of the public insurers are close to the 10% limit, which means it would probably be a heavy lift for them to scale up to maintain eligiblity....
...Globally, insurance companies manage assets of about $44tn, according to the International Association of Insurance Supervisors....
...Higher rates wiped almost $7bn from the company’s “embedded value” last year. Embedded value is a key metric in insurance. It is also controversial....
...The figures are distorted by movements in the value of its mammoth $353bn stock portfolio, which includes stakes in Apple, American Express and Bank of America....
...The designation would hinge on FSOC’s determining that “material financial distress at the company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the company...
...Data compiled by NAIC shows CLO holdings of insurers have surged to more than $200bn, though that figure represents only about 3 per cent of the aggregate investment portfolio of the companies in the insurance...
...The details of the company’s decline are complex but essentially it overexpanded, an investor took over, and Cox left in 2007....
...“The EU is implementing Basel III in a way that these requirements apply to all banks — that provides an additional layer of safety in the prudential regulation of EU banks,” said Dombrovskis....
...Edward Luce: A victory in next year’s presidential election would be Trump’s get-out-of-jail-free card — and America’s funeral....
...Bank of America is bearing the cost of decisions made three years ago to pump the majority of $670bn in pandemic-era deposit inflows into debt markets....
...Edward Luce: Nothing better captures the fragility of America’s democracy than the impunity of its Supreme Court....
...“Not a single one of the clients who are in these funds would pay these rates for any other type of insurance, certainly not term [life] insurance,” she points out....
...For sceptics, an obvious comparison is the case of John Edwards....
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