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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...
...It is the latest coup for Lloyd’s, which has also attracted insurance group Aviva back to the market....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for 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-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....
...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,...
...But sales at its mainland China joint venture, Citic Prudential Life, dropped nearly 40 per cent year-on-year....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...“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....
...Lloyd’s of London — the world’s oldest insurance market — acquired a reputation for inefficiency, complacency and boorish behaviour. Yet last year’s performance was the best for 16 years....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...According to an index from insurance broker Marsh, global commercial insurance rates rose in the final three months of last year, the 25th straight quarter of increases....
...Anil Wadhwani, the new chief executive of Prudential, has promised to “do things differently”. He also says the UK-listed insurer will focus on Asia and on paying dividends....
...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...
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...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 —...
...Private capital groups such as Apollo, KKR and Brookfield have swept into the life insurance sector since the financial crisis, buying insurers and reinsurers or striking asset-management partnerships....
...which is owned by MassMutual, one of America’s biggest life insurers....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...But even in the new world of shareholder activism and governance pressure, no deal trumps the shock and disbelief that rippled across corporate Japan last week when Dai-ichi Life Insurance suddenly threw...
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...The so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...foreign companies, have prompted executives in the West to prioritise shortening their supply chains....
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