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...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...its own insurance claims when it presented a credit insurance guarantee to the regulator....
...Last month, Chubb’s chief executive Evan Greenberg told analysts that the company’s “exposure is within what we would contemplate and there’s nothing outsize to us”....
...Unhedged: Some of your competitors, rather than working on behalf of insurance companies, own insurance companies, or have insurance subsidiaries. I wonder why Blackstone hasn’t done that....
...Robert Armstrong(Laughter) Well, they buy and sell stuff like huge railroads, hundreds of billions of dollars of Apple stock, many insurance companies, many utilities and energy companies....
...(Do this thought experiment: picture a conglomerate controlling the same empire of companies as Berkshire, including in notably unpopular industries such as energy, insurance and banking; can you imagine...
...Let me know your thoughts: robert.armstrong@ft.com. How good was that jobs report?...
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...As Sonali Basak pointed out on Bloomberg last week, if the assets are held within insurance-company subsidiaries, insurance regulators will have visibility, and there will be some required disclosures....
...Email us: robert.armstrong@ft.com and ethan.wu@ft.com....
...Additional reporting by Robert Wright...
...The insurance sector is expecting a hefty bill....
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
...Robert ArmstrongI like it. My next pick was Everest Group, which is a reinsurer. So they are an insurance company for insurance companies....
...Email us: robert.armstrong@ft.com and ethan.wu@ft.com. How much inflation is priced in?...
...Instead, the regulator in its report referenced anonymised companies “[Company A] Bank AG” and “[Company A] Capital (UK) Limited”....
...Mercedes-Benz said Baltimore was among several ports used by the company in the US....
...Send me your sob stories: robert.armstrong@ft.com....
...Marine insurance experts told the Financial Times that the accident would probably lead to a substantial claim, including for damage to the bridge and disruption to the port....
...Robert ArmstrongWell, learning by doing — and this applies certainly to tech companies but to other companies as well — you just do more of the stuff when you’re the bigger company....
...When insurance companies cede risk to reinsurers, they heavily scrutinise them either directly or via careful monitoring of their credit rating reports....
...Further complicating matters, specialised insurance firms have also written contracts protecting some bondholders from a default....
...Pension funds and insurance companies, in particular, have an opportunity to lock in an asset mix that matches their liabilities. But while demand may explain spreads, it does not justify them....
...[MUSIC PLAYING] Ethan WuI’ve got a Miami-based insurance company stock to sell you, Rob. Robert Armstrong(Laughter) Oh, Miami. That’s another question. Ethan WuAll right, Rob, thanks for being here....
...Robert ArmstrongLike the company, don’t like the stock. So I’m with you. Let’s short it together, Katie. And all together now: this is not investment advice....
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