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...A version of this article was first published by Nikkei Asia on August 4. ©2023 Nikkei Inc. All rights reserved....
...Harris’s agency appointed the FDIC as Signature’s receiver....
...But unlike regular investment banks, groups such as KKR — which has diversified to include a $200bn credit investment business and its Global Atlantic life insurance affiliate — can do it all in-house, Lex...
...Ever since, the promise of eye-watering returns has enticed pension plans, endowments, insurance companies, private banks and business tycoons to pump $5tn into the industry....
...According to one senior executive, the US property and casualty insurance sector as a whole has $850bn of capital....
...Watchdogs assume CEOs must know what they are doing — after all, many have PhDs. Supervisory boards assume the same thing, so long as jobs are safe....
...So far most of the casualties of the sector-wide squeeze have been non-banks such as IL&FS, which found itself unable to roll over the short-term funding on which it had depended to run its operations....
...Brian Wieser, business intelligence head at GroupM, the WPP-owned agency, says that for advertisers who are looking to trim spending amid a global downturn, “here’s some money that just freed up”....
...The agency said no — resulting in Tuesday’s acrimonious, wafer-thin vote....
...“Axa’s business was focused on retail and SME [insurance] as opposed to corporate clients and reinsurance,” said Benjamin Serra, senior vice-president at rating agency Moody’s....
...Doing so is likely to become a business imperative....
...Long viewed as Japan’s most powerful advertising agency with tentacles that stretch through its corporate and political worlds, Dentsu’s position was shaken in recent years after an overcharging scandal...
...This trend in property and casualty insurance echoes one under way in the life insurance world for a decade....
...Insurance Group, as well as Honolulu-based insurer First Insurance Co of Hawaii (owned by Tokio Marine Holdings Inc.)....
...No matter who you ran into in a hotel lobby, someone was doing carbon credits.” It didn’t last....
...In property and casualty insurance, Axa is one of those looking for added revenues....
...Yet as global technology groups such as Amazon and Facebook, as well as China’s Tencent and Alibaba, push from social media and ecommerce into banking and insurance, Ping An is moving in the opposite direction...
...a business centre since the financial crisis....
...It found that London was doing well in traditional markets such as the US and Europe, but losing ground in fast-growing emerging markets such as Asia and South America....
...The most common way of doing this used to be to declare that what was a carmaker, insurance company, or bank was now a technology company....
...The fine is the first the SEC has levied against a public company for failing to disclose a cyber breach and comes as the agency tries to impress upon businesses the need for proper controls and procedures...
...They would send three letters as soon as they reached 65, including a certified mailing....
...In guidance put out last summer, the agency said it would assess banks’ lending activities conducted through third-parties — such as buying loans from an online lender — “as though the activities were performed...
...Insurance companies can sue trucking companies for crushing their customers, but how does the road owner bear a cost?...
...Chubb’s reinsurance business has shrunk to account for only about 3 per cent of the group’s premium income, although Mr Greenberg said there was also pricing pressure in the wider property and casualty insurance...
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