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...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...Liberty Commodities is part of GFG Alliance, a collection of firms owned by Sanjeev Gupta, a metals magnate who was one of Greensill’s biggest clients....
...“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....
...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 —...
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...Somehow, life went on, and it’s been an eventful period for the company....
...The filing also alleges that one of Zurich’s own underwriters, Steven Kent, “acted outside the scope of his authority” in increasing the level of insurance he extended to Liberty....
...Its share price and that of bigger rival L&G have snaked sideways for more than a year. Just trades at a 60 per cent discount to book value. Its life insurance peers are closer to parity....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...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”....
...“There is something different about this moment,” says Damon Hart, chief legal officer at Boston-based insurer Liberty Mutual, winner of the 2023 FT innovative in-house legal team award for North America...
...The Belgian company reinforced the idea that this is a cut-price, opportunistic bid, with a second cash-and-shares proposal of about 239p per share....
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...We are pleased to reveal the winners of the FT Innovative Lawyers North America Awards 2023, celebrating innovation in the legal industry....
...for work and family life....
...Foreign companies have become increasingly wary of Hong Kong’s political situation....
...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...
...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 point of the temporary accounting-rule change, from the National Association of Insurance Commissioners, was to shield life insurers’ capital from losses caused by rising interest rates....
...The finance chief of Italy’s biggest insurer has expressed concerns about potentially conflicting interests when life insurance companies are owned by private equity funds, as anxiety grows about the consequences...
...“It may have seemed a time of black and white, of easily definable enemies, of right and wrong, of stars and stripes and swastikas,” writes Mullen, “but Boston had a full palette of grays.”...
...In the US, almost a 10th — $850bn — of the life insurance market is owned or managed in partnership with private capital groups, according to the IMF....
...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....
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