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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....
...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 company agreed last month to acquire Kuvare Asset Management for $750mn, extending its reach into the life insurance sector, a market coveted by many private investment groups....
...A-Cap owns five insurers: Sentinel Security Life, Haymarket Insurance and Jazz Reinsurance in Utah, as well as Atlantic Coast Life Insurance and Southern Atlantic Re in South Carolina....
...“The company only came to life once there was a big new programme from the French and British armies,” said Fabrice Brégier, who led the group from 1998 to 2003....
...“For too long, people with nothing have been subsidising people who have everything,” says Daley, noting the recent FCA clampdown on so-called “loyalty penalties” in the insurance market, plus its radical...
...Private capital groups have swept into life insurance since the financial crisis, with firms as big as Apollo, Blackstone and KKR either acquiring life insurers — providers of annuities and other products...
...One industry expert who had examined 777 Re’s 2022 accounts said of its illiquid assets “in trying to reposition the portfolio it’s unlikely it’ll be able to sell at those valuations”....
...Apollo, Carlyle and KKR are studying separate bids for Pension Insurance Corporation ahead of a deadline this week, as big private capital groups look for a way into the thriving market for UK corporate...
...“People hear pay cheque for life, they think ‘great’. Then they hear the word annuity,” Ackerly said....
...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....
...“You have your emergency fund in an easy access savings account; a separate account for things you want to do within a year or two like holidays or a big life event, and then anything over and above that...
...High inflation has provided a boost to the UK’s retirement sector, as rising pay awards increase the amount that people are putting into their pension, according to FTSE 100 life insurance group Phoenix....
...We already knew there was little to account for TMTG’s near $10bn valuation; it so far has one product, the social media platform Truth Social, whose most prolific poster is Trump and whose user numbers...
...Life for deals....
...Gains for companies such as insurance group Skyward Specialty and biotech company Rayzebio more than offset losses for high profile tech flops like Instacart....
...Rothesay Life for deals....
...Two years ago, LV, which is owned by its customers, was embroiled in a highly publicised battle for the future of its mutual status....
...of Athene, Apollo’s life insurance and annuities subsidiary....
...Brookfield did implicit homage to the Sage of Omaha this week. The Canadian alternatives giant agreed to buy annuities group American Equity Investment Life for $4.3bn....
...Now, the ICO started investigating this problem two years ago, and since then it’s fined 16 separate companies. So I think it’s time to give them a call....
...According to the Office for National Statistics, life expectancy for care home residents between 2021 and 2022 ranged from 7.0 years for the 65-69 age group, to 2.9 years at 90 and over for women....
...“AI is already making life-changing decisions — like how we work, how we’re hired and who gets fired,” said Kate Bell of the Trades Union Congress, one of the groups behind the letter....
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...Apollo and KKR now each have more than 4,000 employees, around triple their levels five years ago after both acquired large life insurance companies, according to securities filings....
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