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...Life insurers, particularly those linked to private equity groups, have pushed deeper into asset-backed securities in pursuit of investments that are a good match for their long-term liabilities but offer...
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...The five insurers and reinsurers belong to the A-Cap group, and together held $11.5bn of assets at year end....
...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...The events, executives say, amount to the biggest challenge yet to private capital groups’ foray into the life insurance sector....
...Just Group will need to work hard to find sufficient investment returns to match the ample supply of bulk deals on offer. alan.livsey@ft.com...
...and workplace insurance products such as pensions....
...than a balance-sheet investment by a private capital group....
...Baroness Nicky Morgan, chair of the Investment Delivery Forum, which includes groups such as Aviva and Phoenix, said the next stage for insurers would be to start pilot investment projects with local and...
...Industry groups contend there is no need to change the current system....
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...Rossi, who became chief executive in late 2022, highlighted the group’s investment performance across its funds and the contribution from the life insurance business as the reasons behind the company’s recent...
...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....
...“The annuity is an insurance policy against outliving one’s assets,” said Brendan Curran, SSGA’s US head of defined contribution....
...The appointment as CEO of a banker with no insurance experience was a surprise to some analysts who expected a continuity candidate with knowledge of L&G’s investment engine, which includes financing projects...
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...as well as adequately funding flood defence investment and maintenance”....
...“This will require a massive scale up of investment”....
...He made a distinction between private capital groups that buy insurance companies as a long-term balance sheet investment, and situations where the insurer is owned through a private equity fund with a shorter...
...The US Federal Deposit Insurance Corporation is working on proposals aimed at ensuring asset managers do not seek too much influence over the banks in which they hold large stakes....
...People close to 777 said the group and the reinsurer had an “aggressive” investment strategy....
...The result has been that private equity firms and other outside investment groups are largely locked out of the bidding....
...He confirmed the heavily trailed 2p cut in national insurance contributions, a shake-up of the “non-dom” tax regime and the creation of a “British Isa” to encourage investment in UK-listed companies....
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