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...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....
...“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....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...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....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...Video produced by Tom Hannen Follow @FTMag to find out about our latest stories first and subscribe to our podcast Life and Art wherever you listen...
...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....
...But Kuvare has established itself as a canny specialist in the bespoke assets that life insurers invest in. Kuvare joins a growing trend....
...“What we have here is the plot of the movie Footloose [about a ban on dancing in a small town] in real life in Seattle,” he says....
...The insurance sector is expecting a hefty bill....
...increase this year, according to industry forecasts, even as politicians and consumer groups voice concern about the impact of rising costs on the millions of households reliant on a car for work and family life...
...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...
...MGX, a new state-funded Abu Dhabi investment company, is in talks to back OpenAI’s ambitious chip venture, in the latest effort by the United Arab Emirates to become a global powerbroker in artificial intelligence...
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...The group’s results were buoyed by strong growth in its credit and insurance business, which has $330bn in assets and helped propel Blackstone’s overall assets to $1.1tn....
...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....
...A body representing global insurance regulators has called for “enhanced supervision” of private capital-owned life insurers, citing potential “conflicts of interest” and “increased risk-taking”....
...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....
...to house Eurovita’s life insurance policies....
...Her new novel, ‘Enlightenment’, is published by Jonathan Cape next month Find out about our latest stories first — follow @FTWeekend on Instagram and X, and subscribe to our podcast Life & Art wherever...
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
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