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...The pair had partnered in a multibillion-dollar unsolicited takeover attempt of annuity specialist American Equity Investment Life, which the latter fended off....
...Private capital managers use Bermudian operations to reinsure life insurance and annuity business from companies that they already own as well as from rivals....
...One of the largest penalties imposed on a New York corporation, the judgment has deepened the former president’s ballooning legal costs, which he is struggling to cover while mounting a campaign for the...
...Additional reporting by James Fontanella-Khan and Harriet Clarfelt in New York...
...Apollo, Carlyle and KKR are studying separate bids for Pension Insurance Corporation ahead of a deadline this week, as big private capital groups look for a way into the thriving market for UK corporate...
...Private capital groups have swept into life insurance since the financial crisis, with firms as big as Apollo, Blackstone and KKR either acquiring life insurers — providers of annuities and other products...
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...Zurich, one of Europe’s biggest insurers, struck a deal to sell its German legacy life insurance back book — including annuity and endowment products — to Viridium in 2022....
...Pete Cowell, head of annuity products at Standard Life, says 65 is the average age of purchase. “There’s not a huge trend to later life annuitisation but it is creeping up.”...
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...The broadcaster is already trying to cut spending by £500mn a year — including at its flagship news programme Newsnight — and Davie said on Tuesday that it would need to make a further £200mn in annual savings...
...The group has hailed recent momentum in the US, where it says it has sold record numbers of individual life insurance policies this year while cumulative volume from bulk pension deals since 2015 has passed...
...The advantages of annuities are certainty, simplicity and security — the value of having a known income for life....
...But we are encouraged by the approach of new chief executive Steve Murrells, and the seafood turnaround is encouraging....
...In 2019 Standard Life was fined £30mn for mis-selling annuities to customers over the phone between 2008 and 2016....
...capital, it’s possible to buy a purchased life annuity (PLA) using a cash lump sum....
...’s life....
...Canada Life reported annuity sales doubling to £441mn in the first half of the year, compared with the same period in 2022....
...Even an advocate such as Chaussée said he would not want to invest new money in a buffered ETF amid a crash or bear market because it would not make sense to cap upside before a potential recovery....
...That bond was underwritten by a subsidiary of the Chubb corporation....
...Two massive conglomerates with substantial interests in Napa Valley are Constellation Brands, based in New York State, and Australia’s wine giant Treasury Wine Estates....
...The restrictions set out by the Federal Deposit Insurance Corporation on Thursday would apply to any takeover that created a bank with more than $50bn in assets, and increase for any deal above $100bn....
...Announcing the group’s 2023 results on Wednesday, Simões said the business had “demonstrated resilience in challenging markets to achieve record new business volumes” in corporate pension deals, UK annuities...
...Apart from the investment manager, Kuvare also sells annuities. Blue Owl will make a separate $250mn injection into that annuities vehicle. It is worth the extra effort....
...Alongside the freeze on corporation tax, Reeves announced a Labour government would keep the “full expensing” regime....
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