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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....
...About 26mn customers across the UK are served by building societies, compared with 24.5mn back in 2013, according to data from the Building Societies Association....
...“We don’t believe we fully understand the risks associated with these offshore insurance companies,” said Natalie Winterfrost, a professional trustee and former chair of the investment committee at The Society...
...The UK’s Coventry Building Society has agreed to buy the Co-operative Bank for £780mn in a deal that would eventually return the private equity-owned lender to mutual ownership....
...Reinsurers “need to feel that it is not just about selling insurance and making a profit. It’s about responsibility as part of society”, Hielkema said....
...Mutuals have, however, made a “comeback” since the financial crisis, according to Building Society Association head Robin Fieth....
...In addition, she pointed to the rise of new distribution channels such as online brokerages and neobrokers that are disrupting the dominant bank and insurance company distribution systems in Europe....
...Nationwide Building Society has announced a £2.9bn deal to acquire Virgin Money, two weeks after the companies agreed the initial terms of a tie-up designed to challenge the dominance of Britain’s biggest...
...The increase was mostly due to higher adjusted pay and benefits, according to the company’s earnings commentary....
...The UK’s third largest building society by assets has submitted a bid for Co-op Bank, in a deal that would return the private equity-owned lender to mutual ownership, according to people familiar with the...
...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...
...The Co-operative Bank has entered exclusive talks to merge with Coventry Building Society, in a deal that would see the private equity-owned high street lender return to mutual ownership....
...The deal would also be a rare acquisition of a listed company by a mutual, which is owned by its more than 16mn members who have a current account, mortgage or savings with the company....
...the mutual’s members might ask as the UK’s biggest building society weighs up an agreed offer for the challenger bank Virgin Money....
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...The mutual will pay 220p per share for the challenger bank, in a combination that the companies say will create the second-largest provider of mortgages and savings in the UK....
...I worked for some years for a mutual insurance company that is now probably the best capitalised insurer in the UK....
...“The insurance industry has a problem in that region for the foreseeable future.”...
...The insurance sector is expecting a hefty bill....
...When I chaired the FDIC during the financial crisis, we sold the failed the mortgage lender Washington Mutual to JPMorgan. It was our only bidder and was prepared to take over WaMu immediately....
...Surging UK insurance premiums for electric vehicles pose a risk to their widespread adoption, analysts have warned....
...“Health insurance is not my top priority.”...
...Non-white mothers often can’t take time off work or get childcare to go to the doctor, may not have health insurance or don’t live in areas where medical care is easily accessible, CDC experts say....
...society”, says one reinsurance chief executive....
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