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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....
...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....
...I worked for some years for a mutual insurance company that is now probably the best capitalised insurer in the UK....
...Its last significant deal came in 2022 with the $12bn acquisition of Alleghany, an insurance-to-manufacturing group....
...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....
...which is owned by MassMutual, one of America’s biggest life insurers....
...We start the week with news that companies are rushing to meet their financing needs before the US election, in a bid to get ahead of potential market volatility in the final stages of the race....
...Barings, a subsidiary of US life insurer MassMutual, filed on Monday for a temporary restraining order and preliminary injunction against Corinthia Global Management in a North Carolina court....
...Active mutual funds experienced outflows of more than $50bn in the first three months of the year, according to Morningstar Direct, hurting large asset managers such as Capital Group, T Rowe Price and Franklin...
...“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...
...Insurance certificates for two US coal mines list Zurich-based reinsurance leader Swiss Re and US insurer Liberty Mutual as providing insurance cover for the operators of projects in Wyoming and Montana...
...Britannia is one of 12 mutual insurers that make up the International Group of P&I Clubs, which take the first $10mn of losses from any one incident themselves, share another slice of losses with the wider...
...Lloyd’s insurers Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among those that have pledged to hold the risk for a total of £500mn of insurance coverage written in partnership with these...
...Its utilities provide power to 13mn customers and in Geico it owns one of the largest insurers in the country....
...Generali, Italy’s biggest insurer, has agreed its largest deal in a decade, buying a Madrid-based insurance group from US insurer Liberty Mutual for €2.3bn....
...Hidden home crisis In places most prone to wildfires and hurricanes, state “insurers of last resort” are absorbing trillions of dollars in risk, reports Bloomberg....
...with local insurers....
...as a crucial test case takes place in Australia, with Greensill investors including White Oak pursuing Greensill’s insurers for payouts....
...At the same time, he will have to navigate a board on which two of Buffett’s children, Howard and Susie, as well as executives such as Ajit Jain, who heads Berkshire’s insurance business and has for years...
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
...When I started in the late ‘60s, mutual funds were coming into their own. Consumers had a lot of money [to invest]. Mutual funds started to take off like rockets....
...The fund is managed day-to-day by an insurance services company, Thomas Miller....
...A decent share of those investments are held by insurers that Barclays classifies as “foreign”: Of course, going by Figure 3, it looks like large mutual insurers face the highest risk....
...A merger with Make UK, which represents manufacturing companies, is seen as a potential lifeline for the beleaguered CBI, which has been closing most of its international offices and preparing to lay off...
...The report said UK agrifood businesses had “paid the price through delays, wastage of food and higher costs as a result” with some companies entirely abandoning trade with EU customers....
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