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...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...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 so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...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....
...“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....
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...A body representing global insurance regulators has called for “enhanced supervision” of private capital-owned life insurers, citing potential “conflicts of interest” and “increased risk-taking”....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...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...
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...The point of the temporary accounting-rule change, from the National Association of Insurance Commissioners, was to shield life insurers’ capital from losses caused by rising interest rates....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...Its share price and that of bigger rival L&G have snaked sideways for more than a year. Just trades at a 60 per cent discount to book value. Its life insurance peers are closer to parity....
...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....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...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....
...The Belgian company reinforced the idea that this is a cut-price, opportunistic bid, with a second cash-and-shares proposal of about 239p per share....
...Instead, they said consumer spending remained strong, and much of the drop in lending came from large companies, which have used their excess cash, or better markets, to pay down debt....
...) — America’s Manufacturing Renaissance Will Create Few Good Jobs (Dani Rodrik for Project Syndicate) — Alex Spiro profile (New Yorker $) — Billionaire Boies (Puck $) — The life and death of Hollywood...
...Long-dated insurance premiums are becoming the funding of choice. The shift is sufficiently seismic that once overlooked credit firms are now the subject of bidding wars....
...By the mid-1800s, the US bracketed the landmass called North America....
...The UK insurance industry has urged ministers to adopt a light-touch regulatory regime for so-called captive insurance companies to encourage hundreds of businesses to bring these subsidiaries onshore and...
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