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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....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...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 so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...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,...
...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....
...“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....
...PE-backed insurance blow-ups attract scrutiny in Europe It’s “one step forward, three steps back”, said one adviser to private equity on the impact of Italian life insurer Eurovita’s collapse last year...
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...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...
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...The point of the temporary accounting-rule change, from the National Association of Insurance Commissioners, was to shield life insurers’ capital from losses caused by rising interest rates....
...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 —...
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...AXA Millésimes, the insurance company’s wine division, is far lower-key than Bernard Arnault’s vast LVMH empire, but has its own investment in Outpost on Howell Mountain, east of the valley....
...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....
...The Belgian company reinforced the idea that this is a cut-price, opportunistic bid, with a second cash-and-shares proposal of about 239p per share....
...The loans business is migrating away from the beleaguered banking sector. Long-dated insurance premiums are becoming the funding of choice....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...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...
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