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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....
...Their demands are intended to protect retirees, widows and orphans relying on annuities and other products from the insurers....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...The insurer is due to underwrite about £2bn of business within Lloyd’s this year and then grow that as a central part of owner Mitsui’s five-year strategy to reach £3bn within Lloyd’s and the so-called company...
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
...Private capital investors have acquired more than $900bn in life and annuity assets in western Europe and North America, according to McKinsey & Company....
...The loans business is migrating away from the beleaguered banking sector. Long-dated insurance premiums are becoming the funding of choice....
...and workplace insurance products such as pensions....
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...Rising insurance prices were “a reflection of the risks, and the risks are going up, and they are going up quickly. It’s a call for action”, Hielkema added....
...Zurich, one of Europe’s biggest insurers, struck a deal to sell its German legacy life insurance back book — including annuity and endowment products — to Viridium in 2022....
...As Sonali Basak pointed out on Bloomberg last week, if the assets are held within insurance-company subsidiaries, insurance regulators will have visibility, and there will be some required disclosures....
...The reinsurer was at the heart of 777’s “insurance funding model”, according to 2021 pitch documents that said 777 Re sat between third party insurers and 777 portfolio companies....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies...
...US financial advisers are now increasingly willing to use buffered ETFs in client portfolios, helping them to attract $10bn in net inflows in both 2022 and 2023 at the expense of the $3.3tn US annuities...
...He adds that if security is important, it makes more sense to put the tax-free element of your pension into a cash Isa and buy an annuity with the taxable portion of the pension. 2....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...After the financial crisis, low interest rates kept annuity rates down and many savers moved to “drawdown” products in which their savings were invested in the stock market and subject to its fluctuations...
...“The annuity is an insurance policy against outliving one’s assets,” said Brendan Curran, SSGA’s US head of defined contribution....
...and the fact that an annuity generally died with the holder or their spouse....
...Snowden has previously pointed to the success of the UK’s Sky Bet, which uses broadcaster Sky Sports’ brand identity and now has the same parent company as FanDuel, as a blueprint for ESPN Bet....
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