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...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...The action, which accompanies orders against two other companies, marks the first move by the department Gove leads to use legal powers under the Building Safety Act....
...“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....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...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 —...
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...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”....
...That offered only a 3 per cent improvement on its first attempt. It did tweak the cash portion higher by 20 per cent....
...first....
...Howden recently completed a $7bn refinancing, including raising its first high-yield bond, as it took advantage of calmer debt markets....
...Car owners have been squeezed by a surge in insurance prices since their pandemic lows, as companies try to reflect a surge in claims costs....
...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...
...For the first time in more than a decade, solid yields are available on the highest-quality bonds....
...to house Eurovita’s life insurance policies....
...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...
...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....
...According to research from Canada Life, an insurance and retirement services company, more than half of UK adults do not have a will, and 13 per cent say they have no plans to write one....
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
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