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...The Trump Organization had approached 30 surety companies — including Allianz, Axa, Berkshire Hathaway, Chubb, Munich Re, Swiss Re and Zurich — via four separate brokers, to no avail, they added....
...Brereton was an executive at underwriting agency Bond & Credit Co, which was then 50 per cent owned by IAG and issued insurance policies on its behalf....
...Komiya defended the rising cost of natural catastrophe cover, saying insurers had to “price the product appropriately”, adding: “For an insurance company, no matter what happens we must not see [the] backbone...
...Earlier this week, Knight Insurance Group, one of more than a handful of companies that make up Hankey’s financial empire, put up a $175mn bond for Donald Trump, an amount the former president had to post...
...That’s no small matter, as the entire insurance industry managed an aggregate of more than $2.8tn in bonds at the end of 2023, according to the NAIC....
...The politically convenient fiction that all eurozone sovereign bonds are risk-free means that banks need set no capital against them....
...The bond, which Trump had to post in order to pause the enforcement of the judgment while he appeals against it, was underwritten by the Knight Insurance Group in California, according to a filing to a Manhattan...
...Unfortunately for Trump, it seems no lenders will provide him with the surety bond to cover his damages....
...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....
...This is what happened to Executive Life, then the largest insurer in California, in the early 1990s: policyholders withdrew $4bn after the company announced losses from junk bond investments, and the company...
...The test also requires shareholders, bond holders and uninsured depositors to absorb losses ahead of the FDIC, which contributes to market discipline....
...I worked for some years for a mutual insurance company that is now probably the best capitalised insurer in the UK....
...First, in the hunt for better than near-zero returns at home, Japanese institutions, including pension funds, life insurance companies and banks, have become major international investors....
...He confirmed the heavily trailed 2p cut in national insurance contributions, a shake-up of the “non-dom” tax regime and the creation of a “British Isa” to encourage investment in UK-listed companies....
...Many also claim that bonds provide insurance against the volatility of “risky” equities....
...this week when his company Knight Insurance agreed to underwrite the former president’s more palatable, reduced $175mn bond....
...The problem is you have no other choice; no one knows the future....
...The investment managers that form the layer in between get their capital from insurance companies, sovereign wealth funds, pension funds and so forth....
...Bankers and investors said companies were being motivated to borrow by the lowest spreads in years, referring to the difference between US corporate debt yields and those of equivalent government bonds....
...No such plan existed for Deutsche Bank, which is rather too large for most other banks to digest in a hurry....
...The company spent billions of dollars acquiring truck-stop operator Pilot Flying J and insurance conglomerate Alleghany in recent years, adding them to a portfolio that includes ice cream purveyor Dairy...
...Once downgraded, “fallen angels” are removed from benchmark IG indices, and hence, from institutional portfolios constrained to invest in only IG corporate bonds (eg. insurance companies), exerting higher...
...A significant portion of the large domestic institutional investor base, such as pension funds and insurance companies, already holds substantial quantities of bonds at large mark-to-market losses....
...Insurance Life insurers are big holders of bonds, which they use to back liabilities such as pension obligations. Their share prices were hit hard following the collapse of SVB....
...According to the parliamentary testimony of the insurance industry there are absolutely no capacity problems, no really, none at all, promise promise, cross my heart and hope to die....
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