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...This would aim to “prevent the risk of fragmentation of the internal market” by deploying common EU borrowing modelled on a pandemic-era unemployment insurance mechanism....
...Industries led by media and entertainment, banking, insurance and logistics were most likely to predict job losses because of cutting-edge AI tools, according to the poll of top directors conducted by PwC...
...on buyout groups’ attempts to trust-build with prudential regulators....
...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....
...Additional reporting by Sam Fleming, Chris Cook and James Politi...
...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....
...“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....
...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....
...Globally, insurance companies manage assets of about $44tn, according to the International Association of Insurance Supervisors....
...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...
...“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....
...The company, which provides life insurance in mainland China, has retreated 14 per cent since the start of the year....
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...The insurance ban is part of the EU’s sixth package of sanctions on Russia, the centrepiece of which was a ban on seaborne oil coupled with a temporary exemption for pipeline shipments into the EU....
...JAB has acquired stakes in two companies from Fairfax, taking over its interests in Crum & Forster Pet Insurance Group and Pethealth in a deal announced on Monday....
...It fell to her eldest daughter, the writer and novelist Doon Arbus, to deal with her still-emergent work as a pioneering photographer of postwar America....
...It has been three years since the company’s relaunch as an independent business following its demerger from UK insurer Prudential....
...insurance executive, speaking on condition of anonymity....
...Meanwhile, Bank of America is reviewing what roles to relocate from Hong Kong to Singapore. Hong Kong is struggling to contain its worst outbreak of the virus in more than two years....
...North America, on September 28-29....
...The group notes that although median incomes in Asia have increased markedly, an estimated 80 per cent of the population of Asia is still without insurance cover....
...AI is giving underwriters godlike powers, according to the president of Sompo Holdings, one of Japan’s biggest insurance companies....
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