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...Additional reporting by Ivan Levingston in Zurich...
...News round-up Freshfields’ former tax partner sentenced to 3½ years in jail (FT) Zurich’s sale of $20bn life insurance book to PE-backed group collapses (FT) Sotheby’s cleared of art fraud in Russian...
...Chinese companies aren’t competing for as many American companies given rising tensions between Washington and Beijing, while high US interest rates have led to private equity firms pulling back on deals...
...private equity group Ardian was spun out of insurance company Axa in a deal valuing the company at just over €500mn....
...By 2009, Mack was ready to retire and had two potential successors: Kelleher and James Gorman, a straight-talking Australian who ran Morgan Stanley’s wealth business....
...This week it was the turn of shareholders in the two Swiss banks — denied a voice by government fiat in the terms of the merger itself — to have their say. “It’s strange. I don’t know....
...Ken Stoller, assistant vice-president at the American Property Casualty Insurance Association, an industry body, highlighted the rejection of pandemic claims in many federal courts, in state high courts...
...The company is also talking to banks about a stock market listing as soon as next year at a valuation of about $20bn....
...A 2021 study by researchers at ETH Zürich, Switzerland’s top university, found that urban trees reduce land-surface temperatures in cities by up to 12C....
...And one scoop to start: Credit Suisse provided funding for Greensill Capital to set up its own in-house insurance firm, weeks after the supply-chain finance company’s main insurer refused to renew its policy...
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...When the company announced in June that non-family CEO Grant Reid would be stepping down this week, it revealed that the group’s revenues had risen by half to $45bn — more than Coca-Cola‘s — during his eight...
...He was just too early, he says, and “too idealistic” in believing that he could represent millions of centrist Americans who felt neglected by Republican and Democratic parties, which he sees as being in...
...Achleitner’s contentious 10-year stint ends on Thursday, when he will use the bank’s annual shareholder meeting to hand over responsibility to his successor, former insurance executive Alex Wynaendts....
...insurance....
...Angela Merkel stepped down in December after 16 years as chancellor and her successor, Olaf Scholz, presides over a fragile coalition of three parties with big differences over foreign policy....
...Swiss insurer Zurich is to expand in the US with its $3.9bn acquisition of MetLife’s property and casualty insurance business....
...would otherwise be lost as a result of the proposed merger”, it said....
...As the FT’s Lex column writes, the most effective move by Culp, an outsider with few loyalties to preserving GE’s legacy, was to sever the company from its past....
...Zurich Insurance is in talks to buy the US property and casualty insurance unit of New York-based MetLife, according to a statement from the Swiss company....
...Nearly half a century later as Kravis and Roberts descend their thrones, their successors will inherit a firm deeply transformed from when it started, as DD’s Antoine Gara and Mark Vandevelde explore in...
...“Evan decided that this was a time when he personally had to step up.” A long-term friend described him as “now in effect the leader of the American insurance industry....
...Incorporated in Bermuda, advised by Apollo and initially owned by the firm’s clients, the insurance company made a permanent business out of what Rowan had originally conceived as a one-off trade in AEL....
...In other Greensill/private equity news, Apollo’s plan to buy parts of the business was crumbling on Wednesday after the US technology company Taulia, which supplies the digital platform used by most of Greensill...
...RSA has long been seen as a takeover target, having been close to agreeing a sale to Switzerland’s Zurich Insurance in 2015....
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