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...Executives at Apollo and MassMutual know each other well....
...Mitsui chief executive Shinichiro Funabiki told the FT last month that the group had decided to focus its growth plans on London, and MS Amlin in particular, because of the city’s “history and expertise”...
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...A-Cap owns five insurers: Sentinel Security Life, Haymarket Insurance and Jazz Reinsurance in Utah, as well as Atlantic Coast Life Insurance and Southern Atlantic Re in South Carolina....
...So-called superfunds have emerged as a cheaper option for employers looking to offload pension plans without paying a premium for a full insurance buyout....
...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...Lloyds is two years in to a £4bn, five-year investment plan to diversify its income away from mortgages towards income streams less dependent on interest rate changes including wealth management and insurance...
...My wife was not entirely pleased when I told her I was applying, but now that she understands my true motive, she is wholly behind the plan....
...The events, executives say, amount to the biggest challenge yet to private capital groups’ foray into the life insurance sector....
...In addition to taking on life insurance premiums through reinsurance agreements with primary insurers, it plans to offer outsourced investment management to insurers looking for expertise in private assets...
...Direct Line shareholders should be wary given Ageas’s poor performance in recent years thanks to its overexposure to unfashionable guaranteed life contracts....
...Executives are taking the risks seriously....
...Insurance executives have also highlighted the risk of a misalignment of interests between the long-term nature of this insurance business and the shorter timeframe of ownership through a PE fund, rather...
...— The Japanese Bid for Foreign Bonds After the End of Yield Curve Control (Brad Setser and Alex Etra) — Why do people let their life insurance lapse?...
...insurance profits as a proportion of revenues — of more than 10 per cent, its target....
...Ping An has cut its stake in HSBC days after it voted against the re-election of the bank’s outgoing chief executive Noel Quinn....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...In 2017, investors including TowerBrook sold Hayfin to British Columbia Investment Management Corporation, a Canadian pension plan....
...Brussels-based Ageas said a deal would strengthen its position in the European market and help it rebalance towards non-life insurance business....
...This could be covered with a life insurance policy for this period only, since a policy for a fixed term is generally cheaper than a whole-of-life policy....
...“All EU regulators are really down on PE fund owners right now,” one insurance executive told the FT....
...Employers are not obliged to pay into a pension plan chosen by their workers....
...Policymakers and regulators have started paying more attention to the particular risks presented by the flood of PE investment into life insurance....
...The private medical insurance sector is booming, with the number of people covered by health insurance hitting 5.8mn in 2022, according to the latest industry data — the highest level since 2008....
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