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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create high-yielding assets for insurance companies....
...Mark Brown, general secretary of the independent BTU union, said Lloyds seemed to be “throwing the baby out with the bathwater” just as the lender was under scrutiny as part of an industry-wide probe into...
...This principle of “mutual dependence” allowed the group to cut duplication and costs....
...Under such schemes, governments share losses from natural disasters with the insurance sector, or create structures to pool risk....
...In addition, she pointed to the rise of new distribution channels such as online brokerages and neobrokers that are disrupting the dominant bank and insurance company distribution systems in Europe....
...“[The union] campaigns on ‘look at what Ford got’,” Belcher said. “They’ve really been pushing $40 [an hour] and free health insurance.”...
...The increase was mostly due to higher adjusted pay and benefits, according to the company’s earnings commentary....
...Indeed, UniCredit will probably buy back and consolidate its insurance businesses, at present held within joint ventures with insurance companies....
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...The area of private medical insurance that has seen the strongest growth has been in the number of people taking out personal cover, according to a survey by Statista Consumer Insights, a research company...
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...True, the lack of a proper banking union is a genuine problem in Europe, hence the EBF’s appeal to legislators and not just watchdogs....
...I worked for some years for a mutual insurance company that is now probably the best capitalised insurer in the UK....
...into bank parent companies....
...Today EU leaders will meet to discuss how to push ahead with a long-stymied plan to create a capital markets union across the bloc....
...When I chaired the FDIC during the financial crisis, we sold the failed the mortgage lender Washington Mutual to JPMorgan. It was our only bidder and was prepared to take over WaMu immediately....
...The PLD impact assessment estimated annual payouts from the reformed system could reach €217mn and insurance costs for companies rise around 10 per cent....
...Martin Gruenberg, chair of the Federal Deposit Insurance Corporation, warned of “significant downside risks to the banking industry”....
...In recent years, its performance has been blighted by higher than expected compensation payouts linked to mis-sold payment protection insurance....
...But Crédit Agricole, which also reported earnings on Thursday, fell 6 per cent after it flagged a worse than expected decline in insurance revenue....
...A customs union would smooth trade for EU companies and help maintain supply chains for carmakers and would therefore be welcomed by most member states. However, the terms would be set by Brussels....
...Meanwhile, Swedish insurance companies have the highest holdings of stocks in the EU....
...Instead, the regulator in its report referenced anonymised companies “[Company A] Bank AG” and “[Company A] Capital (UK) Limited”....
...and steering it back towards some form of mutual or co-operative ownership.”...
...Our mutual goal needs to be that this will remain the case.”...
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