Hints and tips:
...The firm’s “apparent conflicts of interest permeated FTX’s bankruptcy filing and every aspect of the case”, wrote Jonathan Lipson of Temple University and David Skeel of the University of Pennsylvania....
...(In the interest of accuracy we are reckoning in the same feet used by American charts and the Corps of Engineers.) The Chief’s Report was only a recommendation....
...On Wednesday, insurance brokerage Aon struck a deal to acquire NFP, a private equity-backed midsized property and casualty broker, for $13.4bn....
...We’re also reading . . ....
...In fact, it’s the opposite of that. However, I’m kind of long the insurance industry, specifically kind of property casualty insurance industry....
...The 99-year-old investor — sidekick to billionaire Warren Buffett — warned of a brewing storm in the US commercial property market, with American banks “full of” what he described as “bad loans”....
...Ken Stoller, assistant vice-president at the American Property Casualty Insurance Association, an industry body, highlighted the rejection of pandemic claims in many federal courts, in state high courts...
...Pension funds, hedge funds, insurance companies, all different bits of private markets, stuff where regulators don't have a huge amount of visibility on what is going on....
...Neither, he notes, caused immediate casualties. “I didn’t know this, any of this stuff,” said Stone....
...AI is giving underwriters godlike powers, according to the president of Sompo Holdings, one of Japan’s biggest insurance companies....
...These are difficult to knock out and would inflict considerable casualties. Then there is the fear of American intervention....
...“What these banks had in common with the casualties of 2007-08 is that they were expanding their balance sheets much faster than their peers....
...Recommended reading My column this week was on the caging of America’s Kraken....
...So they have all of this cash from these companies. They got this influx of money. Those companies are highly interest-rate sensitive....
...The company, which was set up by Lewis Ranieri of Liar’s Poker fame, presents itself in altruistic terms as a new path for less wealthy Americans to become homeowners....
...Thanks for reading....
...As for the US, shale producers will add just 250,000 barrels a day this year, according to analysts at Tudor Pickering Holt & Company — a fraction of the growth rate seen in recent years....
...“Colour us pleasantly surprised, companies largely avoided the allure of talking about growth in 2022,” said analysts at the Houston investment bank Tudor Pickering, Holt & Co....
...Three North American companies are setting up a rare earths supply chain to reduce dependence on China for the vital metals used in weapons, electric vehicles and other advanced technology....
...In the news Apollo to merge with Athene Apollo Global Management is to merge with Athene Holding, the life insurance company it created at the height of the financial crisis, transforming the alternative...
...American insurer AIG unveiled plans to break itself up on Monday, separating its life insurance business from its larger property and casualty arm....
...In the UK, RSA, the 300-year-old insurance company, is in talks with a consortium from Canada and Denmark about a sale....
...David Sampson, chief executive of the American Property Casualty Insurance Association, said the industry was taking measures such as temporary suspension of premium payments, to ease the burden on business...
...Instead of taking advantage of the coronavirus crisis that hit markets in March, Warren Buffett’s Berkshire Hathaway was a casualty....
...Co-founder and chairman of Just Capital Paul Tudor Jones, meanwhile, says it is businesses’ responsibility to fix American capitalism....
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