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...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 role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Wadhwani began his role in February, but has only started publicly outlining his plans for Prudential in the past week, after the company published half-year results....
...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...
...to the Americas, many dying in the passage....
...Savings products contribute the majority of sales in Hong Kong, the company said on Wednesday....
...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....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...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...
...“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....
...Analysts at Bank of America said the deal should not worsen the outlook for capital returns at Aviva....
...One marine insurance expert said the liability insurance payout, including bridge damage, could rival the approximately $1.5bn paid after the crash of the Costa Concordia cruise ship in 2012, a record....
...Chart of the day Millions of people watched the total solar eclipse yesterday as it swept across Central and North America....
...Instead, he said, they should focus on supporting the energy transition, by creating new types of insurance coverage that support key technologies and companies involved....
...Mercedes-Benz said Baltimore was among several ports used by the company in the US....
...which is owned by MassMutual, one of America’s biggest life insurers....
...The push comes ahead of a planned government consultation in early 2024 to design “a new framework for encouraging the establishment and growth of captive insurance companies in the UK” announced in November...
...from state-owned insurance companies....
...Wadhwani’s remarks came as Prudential reported its results for the first half of the year on Wednesday....
...the company in as many years....
...White said the materials underlined the relationship between Lloyd’s and the African Company of Merchants, a key slave-trading venture, and revealed the role of several members of the governing committee...
...Martin Gruenberg, chair of the Federal Deposit Insurance Corporation, warned of “significant downside risks to the banking industry”....
...In a speech earlier this year, the Bank of England’s Prudential Regulation Authority, which oversees insurance companies, called for moderation “in the face of considerable temptation” to do deals....
...In total, the 18 healthcare companies had assets of $7bn against liabilities of $8.3bn....
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