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...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...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 BMA would not approve any transaction that the [insurance company’s home] regulator does not support,” said the BMA....
...its own insurance claims when it presented a credit insurance guarantee to the regulator....
...BlackRock, the world’s largest money manager, is pulling out as a corporate member and transferring its participation to its smaller international arm....
...The Insurance Development Forum, a World Bank and UN-backed partnership of insurers and international bodies, plans to raise an infrastructure fund of hundreds of millions of dollars to help developing countries...
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...ByteDance’s US investors include private equity company General Atlantic as well as Susquehanna International Group, Sequoia Capital and Coatue Management....
...into bank parent companies....
...Mainstream investment funds such as Fidelity, T Rowe Price and BlackRock are exposed, too....
...Lloyd’s of London and Arch Insurance are listed as representative defendants on behalf of the multiple insurers on the policies....
...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....
...Legal & General Investment Management ranked second for gross sales in 2023, after an increase of 26 per cent on the previous year, ahead of Fidelity International and HSBC Asset Management....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...Market participants said this was feeding through to significantly higher prices for international and local groups seeking to protect infrastructure and property....
...Federal Deposit Insurance Corp chair Martin Gruenberg has warned that the sharp rise in this “hot money” presents liquidity risks....
...International....
...Partnering with Dai-ichi Life would give the company access to its 160,000 corporate clients while the insurer also plans to help with expanding the group’s international footprint....
...“We don’t see some of the drivers changing in terms of asset gathering,” said Beccy Milchem, BlackRock’s head of International Cash Management....
...Yet many of the companies operating there are not insured. According to Axa XL, of the 4,400 operational LEO satellites in 2021, just 47 were covered....
...Fidelity plans to convert six mutual funds with a combined $13.2bn in assets into ETFs in November this year, a regulatory filing shows....
...A second approach would be to adopt the Insurance Capital Standard (the ICS) being developed by the International Association of Insurance Supervisors, tailoring it specifically for reinsurers....
...There are of course other important announcements due this week, not least a steady flow of results, probably best described as a smorgasbord, from retailers and drugmakers to technology companies and insurance...
...“I think the great reconciliation between US investors and international would begin with a dollar decline.” This article has been amended to correct the name of Generali Insurance Asset Management...
...FTSE 100 financial and insurance stocks dominated the top 10 net buy lists of the UK’s biggest investment platforms, with their generous dividends proving attractive to retail investors in an inflationary...
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