Wednesday, March 12

Tag: Life Insurance

Chinese State-Owned Firms Establish $1.4 Billion Fund
2Jan By adminNo Comments
World

Chinese State-Owned Firms Establish $1.4 Billion Fund

Two Chinese state-owned companies will establish a 10 billion yuan ($1.41 billion) fund to invest in companies with real estate project assets.Under the agreement, New China Life Insurance will be the limited partner providing CNY9.9 billion in capital and China International Capital Corp.will act as general partner that will manage the fund, New China Life said late Monday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Japanese Investors Return to Overseas Real Estate With Lessons Learned From the 1990s
1Jan By adminNo Comments
World

Japanese Investors Return to Overseas Real Estate With Lessons Learned From the 1990s

TOKYO—Big Japanese investors stumbled disastrously into the U.S. commercial real-estate market in the late 1980s, when they bought high-profile properties like New York’s Rockefeller Center not long before the market fell hard.Now some Japanese institutional investors and real-estate companies are back—but this time it isn’t about flaunting trophy purchases. It is about diversifying portfolios for the long term and getting good bargains while the market is slumping.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Sumitomo Life to Buy Singapore Insurer in S$4.6 Billion Deal
22Dec By adminNo Comments
World

Sumitomo Life to Buy Singapore Insurer in S$4.6 Billion Deal

Updated Dec. 22, 2023 1:48 am ETSINGAPORE—Sumitomo Life Insurance has agreed to buy Singapore Life Holdings in a deal that will value the homegrown insurer at 4.6 billion Singapore dollars (US$3.47 billion).Under the deal, the Japanese company will pay S$1.6 billion for asset manager TPG’s 35.48% stake in Singlife. It will also offer to acquire the remaining shares it doesn’t already own in the Singapore insurer.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Swiss Life CEO to Step Down
4Dec By adminNo Comments
World

Swiss Life CEO to Step Down

Swiss Life Holding said Patrick Frost has decided to step down as chief executive at the group’s annual general meeting in May next year, after 10 years at the helm of the insurer.The company said Monday that Matthias Aellig, currently chief financial officer, would succeed Frost as CEO as of May 16, 2024. Marco Gerussi, who served as head of finance transformation since 2018, will replace Aellig as CFO.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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How to Donate to Charity, Get a Tax Break and Have Income for Life
1Dec By adminNo Comments
Money

How to Donate to Charity, Get a Tax Break and Have Income for Life

Tax breaks for charitable donations come in many flavors, and this year Congress has a new one for seniors called an IRA charitable gift annuity. It allows older owners of traditional IRAs to donate account funds to a charity and get tax breaks plus income payments for life. Brian and Deborah Smith of Park City, Utah, plan to try this option next year. That’s when Deborah Smith turns 73 and has to begin required withdrawals from her traditional IRA. She will donate $53,000 of her $550,000 account to the Episcopal church where the couple is active and Deborah serves on the board. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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How to Donate to Charity, Get a Tax Break and Have Income for Life
1Dec By adminNo Comments
World

How to Donate to Charity, Get a Tax Break and Have Income for Life

Tax breaks for charitable donations come in many flavors, and this year Congress has a new one for seniors called an IRA charitable gift annuity. It allows older owners of traditional IRAs to donate account funds to a charity and get tax breaks plus income payments for life. Brian and Deborah Smith of Park City, Utah, plan to try this option next year. That’s when Deborah Smith turns 73 and has to begin required withdrawals from her traditional IRA. She will donate $53,000 of her $550,000 account to the Episcopal church where the couple is active and Deborah serves on the board. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.
13Nov By adminNo Comments
World

Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.

Wall Street’s doom-mongers spent years warning that private lenders would be the next bubble to burst when central banks tightened policy. Instead, the funds are becoming even more ubiquitous as companies scramble to refinance debt in a higher interest-rate environment.Take PetVet Care Centers. The Westport, Conn.-based company operates 450 veterinary clinics and hospitals across the U.S. and has been owned by private-equity giant KKR since 2018. It has been a successful acquisition, but the company is facing a wall of debt maturities that can only be refinanced at higher cost. KKR is providing $600 million of additional equity to ease the burden, while private-debt lender Blue Owl Capital will extend PetVet a $2.3 billion senior loan.Copyright ©2023 Dow Jones & Company, Inc. All Righ...
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Brookfield Asset Management Sees $150 Billion Fundraising Goal Within Reach
7Nov By adminNo Comments
World

Brookfield Asset Management Sees $150 Billion Fundraising Goal Within Reach

Nov. 6, 2023 7:46 pm ET|WSJ ProBrookfield Asset Management remains confident that it can reach its goal of raising $150 billion in new investment capital this year after banking $26 billion in the third quarter alone.The publicly traded infrastructure-focused investment firm controlled by Brookfield Corp. said it amassed $61 billion this year through September. That included $715 million in commitments to its sixth private-equity fund during this quarter. The fund wrapped up roughly a month ago with $12 billion, making it Brookfied’s largest vehicle for the strategy.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8The go-to source for all things private equity.News, data and analysis to help you find opportunities, and to follow the broad ...
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LIC to challenge Rs 290 cr GST bill issued by Bihar tax authority
23Sep By adminNo Comments
Business

LIC to challenge Rs 290 cr GST bill issued by Bihar tax authority

The Life Insurance Corporation of India (LIC) plans to lodge an appeal with the GST Appellate Tribunal over a Goods and Services Tax (GST) bill exceeding Rs 290 crore, issued by the Bihar tax authority. In an exchange filing on Friday, LIC disclosed that it had been charged a GST bill that, inclusive of interest and penalties, amounted to more than Rs 290 crore. “This is to inform that the Corporation has received an order under Section-73(9) of the BGST and CGST Act 2017 from the Bihar- Additional Commissioner State Tax (Appeal), Central Division, Patna on September 21, 2023,” the exchange filing stated. Details of the violation included failure to reverse the Input Tax Credit (ITC) availed and utilised on non-GST leviable portions of premiums received f...
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