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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....
...A significant part of the Signa group debt was provided by non-bank financial companies such as Dortmund-based insurer Signal Iduna, a midsized company with 12mn customers, mainly in health and life insurance...
...The so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...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....
...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,...
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...Mainland Chinese travellers have returned to Hong Kong and some are buying insurance there. New business profits rose 39 per cent to $1.5bn. At the current rate, Wadhwani’s targets look achievable....
...Rossi, who became chief executive in late 2022, highlighted the group’s investment performance across its funds and the contribution from the life insurance business as the reasons behind the company’s recent...
...on buyout groups’ attempts to trust-build with prudential regulators....
...Blackstone’s distributable earnings — a metric considered a proxy for cash flows — rose 1 per cent in the first quarter to $1.3bn, slightly beating analyst estimates....
...Around us, business meetings were in full swing with groups of (mainly) men in crisp white shirts and V-necks talking quietly over pots of coffee....
...From there, Johnsen narrowed the list down to four fragrances, with two last-minute submissions coming from Epinette (Lesedi La Rona III and V)....
...Prudential suffered a steep drop in profits in Hong Kong last year as pandemic rules prevented mainland Chinese customers from crossing the border to buy insurance policies in the territory, an important...
...It was also boosted by a particularly strong performance by its life division....
...“If you’re a UK plc, the government is doing something to make your life easier,” Wagstaff added....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Other insurers, such as Prudential, also stopped offering the products. In 2019 Standard Life was fined £30mn for mis-selling annuities to customers over the phone between 2008 and 2016....
...Prudential: Shares in the insurance and asset management company are up 3.5 per cent after it reported a 36 per cent increase in first-half new business profit from its insurance operations....
...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....
...Over the next 16 years, he spearheaded a string of deals, buying brokerage EF Hutton, investment bank Lehman Brothers, insurance firm Fireman’s Fund and other businesses that turned the charge-card company...
...Soft greys and browns represent the wool trade; the brighter pinks and blues were based on an 18th-century Spitalfields silk dress at the V&A....
...There are of course other important announcements due this week, not least a steady flow of results, probably best described as a smorgasbord, from retailers and drugmakers to technology companies and insurance...
...Much of Phoenix’s growth historically has come from acquisitions, adding closed books of life insurance business to its own operations....
...But her decision came against a backdrop of sharp rises in removals costs — by 38 per cent over the past five years, according to Admiral, the insurance group....
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