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...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...A significant part of the Signa group debt was provided by non-bank financial companies such as Dortmund-based insurer Signal Iduna, a midsized company with 12mn customers, mainly in health and life insurance...
...The so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...A Treasury source said the government was in “active discussions with the Prudential Regulation Authority, which supervises the insurance sector, and insurers as to how we can speed up implementation over...
...In full-year results on Wednesday, the life insurance and asset management group reported a 45 per cent rise in new business profit — a measure of expected earnings from newly sold products — to $3.1bn,...
...But sales at its mainland China joint venture, Citic Prudential Life, dropped nearly 40 per cent year-on-year....
...He wants KT&G to appoint Cha Suk-yong, chief executive of leading domestic cosmetics group LG H&H, and Hwang Ou-jin, the former head of Prudential Life Insurance, as outside directors....
...on buyout groups’ attempts to trust-build with prudential regulators....
...of companies....
...“If you’re a UK plc, the government is doing something to make your life easier,” Wagstaff added....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Other insurers, such as Prudential, also stopped offering the products. In 2019 Standard Life was fined £30mn for mis-selling annuities to customers over the phone between 2008 and 2016....
...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...
...Asia-focused insurance and savings group Prudential highlighted this in results this week. Higher rates wiped almost $7bn from the company’s “embedded value” last year....
...Globally, insurance companies manage assets of about $44tn, according to the International Association of Insurance Supervisors....
...Insurance companies like Prudential, MetLife and Allianz may push deeper into the alternatives market by striking investment partnerships with large private capital groups, or by acquiring them outright....
...Prudential, for example, saw a drag on its 2Q22 results from an increase in reserves on its individual-life-insurance business....
...and Prudential Financial, which warn of growing risks....
...The BoE’s Prudential Regulation Authority, which supervises the sector, put 16 life insurers through a stress test of credit downgrades and increased longevity....
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...The Prudential Regulation Authority is engaging constructively on reforms of the so-called Solvency II for insurance....
...Holdings of UK-listed companies by British pension and insurance funds have plunged from about half of their portfolios to 4 per cent over the past two decades, according to data from Ondra....
...Family life and professional life were mixed together, which meant we shared so much. That’s what I miss the most.”...
...The BoE’s Prudential Regulation Authority, which supervises the insurance industry, failed in its attempt to secure a more conservative approach to an overhaul of the rules governing the sector announced...
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