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...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...In a lawsuit filed last week, Atlantic Coast Life Insurance and Sentinel Security Life Insurance, part of US insurance group A-Cap, asked a New Jersey court to stop AM Best from “issuing the rating it has...
...“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....
...The so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...Prudential’s steep fall in new business profits in the territory last year highlighted the risks of its new, smaller footprint....
...The news comes weeks after Metro announced job cuts and a review of the seven-days-a-week opening policy that differentiated it from legacy high street banks when it launched in 2010....
...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,...
...Insurance group Prudential’s new business profit rose by about 45 per cent to $3.1bn last year, as its core business in Hong Kong continued to recover from the impact of coronavirus restrictions....
...Mairaj’s was one of them, in 2022. He accepted an offer to buy his home from Blue Acres, a programme led by the New Jersey Department of Environmental Protection....
...He’s made a shit ton of money for the company.” Buffett’s fascination with the insurance industry dates back more than 70 years....
..., New York and New Jersey....
...On the regulatory side, the forum said it was considering what it called a “sandbox” idea, where the industry and its regulator, the Bank of England’s Prudential Regulation Authority, could “discuss and...
...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....
...Per Bloomberg: Apollo Global Management Inc bet on the longevity of senior citizens by acquiring illegal life insurance policies and funneling the payouts through shell entities, according to a new lawsuit...
...Prudential officials predicted, on a call with analysts last week, a $200mn “restructuring charge” in the fourth quarter while they continue to try to increase the assets under management of PGIM, the insurance...
...Prudential’s new business profit growth in this segment has been brisk. Moreover, Chinese investors are using insurance to diversify assets. But caution is warranted....
...Although the port is smaller than those of New York and New Jersey, it is the main east coast entry port for imported cars, according to the Maryland governor’s office....
...on buyout groups’ attempts to trust-build with prudential regulators....
...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....
...He occupies a larger-than-life legacy in the world of endowments....
...The group set a new target to grow new business profit by a compound annual growth rate of 15 to 20 per cent until 2027. Analysts at Barclays welcomed the “ambitious” goal....
...The push comes ahead of a planned government consultation in early 2024 to design “a new framework for encouraging the establishment and growth of captive insurance companies in the UK” announced in November...
...The landmark lawsuit filed on Thursday in federal court in New Jersey by the US Department of Justice, along with a bipartisan group of 16 state and district attorneys, accuses the group of imposing contractual...
...UK home insurance prices are expected to rise by more than a third over the next two years, according to a new forecast, as insurers respond to their worst year for underwriting in decades by pushing premiums...
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