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...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...The firm collapsed in March 2021 after it failed to renew its insurance cover....
...Some bulk annuity providers such as Aviva and Legal & General are part of broader groups offering other types of insurance and investments but PIC, founded in 2006, is a privately owned specialist in the...
...A wave of insurance brokerages including Hub Group and Integrity Marketing Group have taken private equity cash....
...Bain expects a similar timeframe for completing the legal framework for liability and insurance and improving the accompanying road and telecoms infrastructure....
...Jonathan Dixon, secretary-general at the International Association of Insurance Supervisors, told the Financial Times that while the sweep of private capital groups into the life insurance sector helped...
...Competitors such as Blackstone, KKR and Apollo Global, which listed their shares around the 2008 financial crisis, used their public stock to help finance acquisitions to expand into managing credit and insurance...
...“This is a wake-up call for the financial industry and the insurance industry,” executive director of the European Environment Agency Leena Ylä-Mononen told the Financial Times....
...If we had liquidated it, FDIC’s inspector general stated the cost would have been over $40bn. The WaMu transaction demonstrates why the largest banks should not be completely excluded from bidding....
...“The People’s Republic of China represents the most critical threat [among cyber risks],” General Timothy Haugh, head of US cyber command, told the Vanderbilt event....
...Its largest holdings included Alphabet, Canadian National Railway, Visa, General Electric and rating agency Moody’s as at the end of September, according to a regulatory filing....
...The agency also focused on the allegedly harmful effects the deal would have on labour, saying that the combined entity “would gain increased leverage over workers and their unions”....
...Cruise on Thursday said it was co-operating with law enforcement agencies....
...The DoJ also advises federal banking agencies on what impact deals will have on competition....
...In particular, it has pioneered the practice of creative debt investing using life insurance premiums as a base....
...It looks like the EU’s Ageing Working Group – who set common discount rates across European statistical agencies – haven’t checked their Bloombergs in a while....
...California regulators have barred Cruise’s autonomous vehicles from the state’s roads and accused the company of misrepresenting details about an accident, dealing a sharp setback for the General Motors-owned...
...After insurance payouts, the French group will book a non-recurring charge of $213mn before tax in the fourth quarter of 2023....
...and David Sambur — two senior partners who lead Apollo’s private equity business — as well as deputy chief investment officer of credit John Zito and Grant Kvalheim, president of Athene, Apollo’s life insurance...
...The chancellor, Jeremy Hunt, has promised unspecified savings to fund cuts to national insurance....
...Republican board directors at the Federal Deposit Insurance Corporation have called on the agency’s chair to recuse himself from an investigation into allegations of widespread sexual harassment and discrimination...
...Not so the Midwest city of Cleveland, where the mayor and city council presidents fervently oppose a proposal on next week’s ballot that would designate two per cent of the city’s general fund ($14mn at...
...In 2020, the FDIC’s inspector-general found that the agency’s sexual harassment policies were inadequate at preventing abuse. The FDIC at the time vowed to improve its practices....
...As early as next week, Letitia James, New York’s attorney-general, could forcibly sell his properties to pay his debts....
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