Insurance Journal reported
Private equity and venture capital firms have been pouring capital into insurance companies despite the uncertainties about claims and losses from the pandemic.
Actually the PEU boys are pouring insurance company reserves into their fund offerings.
PE-backed M&A in the sector globally reached $19.28 billion in disclosed value in the year to Aug. 20, already exceeding the full year 2020 total of $12.88 billion,
The five big public PE firms — Apollo, Blackstone, The Carlyle Group Inc., KKR & Co. Inc. and Ares Management Corp. — have all bought into insurance companies over the past two years.
It remains to be seen how regulators view private equity underwriter (PEU) ownership of insurance companies.
The largest deal has been Apollo Global Management Inc.’s planned merger with retirement services company Athene Holding Ltd. in deal suggesting a total equity value of roughly $11 billion for Athene.
The greed and leverage boys also want access to the common person's retirement funds. Could buying insurance companies be an interim step to achieve that aim?
Update 6-29-23: Investor Kirk Simon called out the PEU boys buying insurance companies and steering insurance reserves into their PEU offerings.
The whole private equity thing of buying up life insurance companies then investing the premiums just seems a bit sketchy.
I'll shorten it to the whole private equity thing seems a bit sketchy.
