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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...But co-founder and chief executive Daniel Schreiber told the Financial Times that the results, which included a small increase in its cash and investments, from $942mn at the end of the first half to $945mn...
...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....
...He previously worked at insurance group Aviva for more than a decade....
...Mick McAteer, co-founder of the Financial Inclusion Centre think-tank and a former FCA board member, said the stress-test plan was “very welcome”....
...Further complicating matters, specialised insurance firms have also written contracts protecting some bondholders from a default....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...the private equity house, who co-led the strategy....
...Cocini has been co-head of Bank of America’s global financial institutions group, which will continue to be led globally by Gary Howe, and in Emea by James Gill....
...The products it sells were popular before the global financial crisis but lots of providers blew up after writing large amounts of insurance for securities backed by subprime mortgages, among other things...
...Scott Nuttall and Joseph Bae, co-chief executives of the New York-based group, told the Financial Times they were seeing an improvement in activity to take portfolio companies public....
...The FT story on the deal quoted KKR co-CEO Scott Nuttall saying the following: “We are not doing this because we have to, we are doing it because we want to and this has been a home-run investment,” said...
...He had met the co-head of Barings’ private finance group Adam Wheeler years earlier, when Wheeler worked at Australian firm AMP Capital, although Weightman said that this brief encounter had no bearing on...
...Such insurers tend to hold a higher proportion of illiquid assets, and the fund has urged national regulators to consider the risks to the wider financial sector....
...A-Cap’s plan to raise capital is a response to the downgrade from AM Best, which centred on concerns about 777 Re’s holdings. 777 Partners co-founder Josh Wander told the Financial Times that he was “not...
...into the world’s first global “financial supermarket”....
...Blackstone merged its credit and insurance investment operations in September in preparation for a push into asset-backed lending markets, Gray and co-founder Stephen Schwarzman have told shareholders....
...Risks to financial stability may also stem from interconnections with other segments of the financial sector....
...Indeed, Maxey reckons that the danger of a liquidity shock causing a 1987-style market meltdown is greater than before, due to some “emergent features” of the financial system that Ruffer’s co-CIO thinks...
...Barings said that in early March more than a dozen employees resigned for Corinthia, alongside global private finance co-heads Fowler and Adam Wheeler....
...Peter Manley will specialise on insurance, and was previously at Talcott and JPMorgan. Mark Karasik will focus on asset and wealth managers, and comes from Moelis, DD is first to report....
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...Many customers are buying weight-loss drugs outside insurance schemes as obesity is not a widely covered condition in the US....
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...This means that offloading liabilities, and the assets backing them, to insurance companies is becoming a viable option for more businesses....
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