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...Their demands are intended to protect retirees, widows and orphans relying on annuities and other products from the insurers....
...Brokers play a key role in the global economy, advising companies on risk and how to manage it, including through insurance....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Another focus for MS Amlin is to grow its casualty insurance lines, such as policies which provide cover for legal claims against a company’s management team....
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
...Private capital investors have acquired more than $900bn in life and annuity assets in western Europe and North America, according to McKinsey & Company....
...But debt markets present a bigger opportunity than equity markets and insurance has proved to be a reliable source of fee-paying permanent capital....
...and workplace insurance products such as pensions....
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...Zurich, one of Europe’s biggest insurers, struck a deal to sell its German legacy life insurance back book — including annuity and endowment products — to Viridium in 2022....
...Annuity-holder runs against PE firms’ insurance subsidiaries could lead to sudden and heavy withdrawals from banks....
...Insurance companies have lifted prices drastically in the past couple of years after spiralling inflation in their claims costs — as items such as car parts and second-hand cars became much more expensive...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...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....
...London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies...
...As insurance companies recover from recent losses, and inflation falls, there should be scope for more competitive pricing....
...A Morningstar analysis last year found that typical structured products’ sales costs were equivalent to management fees of well over 1 per cent, and annuities can cost even more....
...Age, health, other income sources and family situation can shape how well an annuity works for you....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...In 2019 Standard Life was fined £30mn for mis-selling annuities to customers over the phone between 2008 and 2016....
...“The annuity is an insurance policy against outliving one’s assets,” said Brendan Curran, SSGA’s US head of defined contribution....
...and the fact that an annuity generally died with the holder or their spouse....
...Insurance and savings group M&G has re-entered the bulk annuity market, taking advantage of booming conditions as companies look to offload their pension schemes to insurers....
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