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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...
...The company expected net cash flow to turn “consistently positive” in the first half of next year....
...“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....
...Wadhwani began his role in February, but has only started publicly outlining his plans for Prudential in the past week, after the company published half-year results....
...According to his LinkedIn profile, he previously worked in government affairs for Cheniere Energy and as a senior adviser to the chief of executive of Tellurian Inc, two companies which pioneered the development...
...Savings products contribute the majority of sales in Hong Kong, the company said on Wednesday....
...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....
...And for all of the histrionics of Musk, there is not even a hint that other big public companies are set to abscond to Texas, Nevada or any other state....
...“Winner” indicates that the organisation won an FT Innovative Lawyers North America award for 2023. The full list of award winners is available here....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...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...
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...Fink noted that public equities and bonds now accounted for 70 per cent of financing for non-financial companies in the US, the highest proportion in the world....
...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....
...Analysts at Bank of America said the deal should not worsen the outlook for capital returns at Aviva....
...on buyout groups’ attempts to trust-build with prudential regulators....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...Profits may be hit by additional fees as part of the Federal Deposit Insurance Corporation’s plan to recover losses associated with rescuing Silicon Valley Bank and Signature Bank last year, most of which...
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...The resilience of the Dollar Tree chain allowed the company to trade at a premium to Dollar General throughout much of 2023....
...The mechanics of the NAIC’s rule change (as described by Barclays, Bank of America, regulators, industry groups and various other sources) are . . . not especially simple....
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