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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...He said the sector needs to “bring to bear” broader forms of insurance capital including from pension funds and sovereign wealth funds through a growing insurance-linked securities market....
...In a lawsuit filed last week, Atlantic Coast Life Insurance and Sentinel Security Life Insurance, part of US insurance group A-Cap, asked a New Jersey court to stop AM Best from “issuing the rating it has...
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...The concern is that in the meantime the assets backing those liabilities might have been switched into illiquid securities that have turned sour, or are unsuitable to back long-term retirement promises to...
...It is the second big transaction by a private capital-backed firm to take on long-term life insurance business that has failed in recent months....
...In 1951, he penned a column, “The Security I Like Best”, and picked Government Employees Insurance Company, or Geico, then chaired by his mentor at Columbia University, the famed investor Benjamin Graham...
...“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 regulator also wants to make greater use of reinsurance markets, and aims to encourage investors to put more money into EU insurance-linked securities — such as catastrophe bonds, which pay out for certain...
...Hong Kong has unveiled the draft of a new national security law which proposes a maximum penalty of life imprisonment for the crimes of treason or insurrection....
...Update May 1st: Apollo has emailed this statement: A life insurance policy is one of the most important assets in a person’s financial life; it can provide certainty and financial security unlike any other...
...Meanwhile, organisations such as the National Association of Insurance Commissioners (NAIC) and the IMF have raised warning flags about hard-headed financial investors mixing themselves up in the retirement...
...Second, although national security officials want stricter controls around how companies choose vendors and suppliers, this type of state interference tends to be anathema to the C-suite, who have, after...
...Zelenskyy has said the changes are needed to reboot and breathe new life into Ukraine’s military and security apparatus....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...But a less-followed risk is adding to unease at companies offering life and health insurance: scientists’ warnings, and research findings, that a warming climate is causing an increasing number of excess...
...You might be able to get a new phone on insurance, restore your data from the cloud and have stolen money refunded....
...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 —...
...The private medical insurance sector is booming, with the number of people covered by health insurance hitting 5.8mn in 2022, according to the latest industry data — the highest level since 2008....
...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 life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...MPs last year blamed regulatory foot-dragging for London losing out on $700mn of insurance-linked securities that went to Singapore....
...The National Farmers Union has warned the government that it cannot import its way to food security, as it reported business confidence among UK farmers hitting an all-time low this year....
...Beijing responded to the anti-government protests by imposing a sweeping national security law on Hong Kong in 2020, which included penalties of up to life imprisonment and had the effect of silencing dissent...
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