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...’s largest insurers....
...Given the specialized nature of the asset class, the risks involved may be misrepresented....
...which is owned by MassMutual, one of America’s biggest life insurers....
...about a series of large deals, including a $2.2bn investment by the private equity group into insurer AIG....
...Rating agencies typically treat preferred stock deals more favourably than run-of-the-mill loans....
...Sheikh Jassim, the son of one of Qatar’s richest men, had promised a “debt free” purchase of 100 per cent of the club through his previously unknown Nine Two Foundation, as well as to invest in both the...
...Apollo was formed in 1990 by former executives of investment bank Drexel Burnham Lambert to acquire the junk bond portfolio of a failed California insurer, Executive Life....
...its loan....
...The private equity giant was founded in 1990 by former executives of investment bank Drexel Burnham Lambert to acquire the assets of a failed California insurer, Executive Life....
...It has usurped the role of banks and insurers, hobbled by the 2008 financial crisis and constrained by the regulations that followed. Apollo’s other recent big deal underscores this....
...Apollo, under current chief executive Rowan, built an insurer called Athene that was designed to invest fixed-rate annuity premiums into complex debts, like senior loans....
...In October, Vista Equity Partners borrowed $930m using a private placement of debt it sold to a group of US insurers, raising cash at low rates that the firm will invest in its funds alongside its limited...
...It was thrown into crisis last week after its main insurer refused to renew a $4.6bn contract and Credit Suisse froze $10bn of funds linked to the firm, depriving it of an important source of funding....
...SunAmerica was extremely resourceful, ploughing some of its cash into junk bonds, car loans and other unconventional assets....
...This effectively created a loan from Greensill to Vodafone. And to keep the machine running, Greensill would sell off the loan so it had capacity to write more....
...Its collapse is at the centre of a financial and political scandal that has engulfed Swiss bankers, Australian insurers and former UK prime minister David Cameron....
...The insurer now accounts for roughly two-fifths of the $455bn that Apollo manages for investors, ploughing policyholders’ annuity payments into senior loans for everything from suburban homes to hospitals...
...There’s been a rush of boardroom resignations, and questions are being raised about insurers’ exposure to Greensill....
...On Monday night Greensill was denied an injunction by an Australian court after the finance group tried to prevent its insurers pulling coverage....
...the year and raise up to $3bn of fresh equity, in a move that will complete the break-up of the 173-year-old life insurer and cement its pivot to Asia....
...Should the property slip further, it will be passed to its special servicer, Midland Loan Services, part of PNC. Midland declined to comment. 3....
...(FT) News round-up UK insurer Hastings to be taken private in £1.7bn deal (FT + Lex) Mizuho chief predicts wave of Covid M&A and succession shake-ups (FT) Italian government halts Telecom Italia asset...
...insurers....
...Loans, bonds and convertible instruments can all be clever ways to acquire control of a company....
...Prudential, the UK insurer which is one of the group’s largest positions, was among its worst performers with shares in the company down 40 per cent since the sell-off started in late-February....
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