Insurance reporter for Bloomberg News.

New York Life Backs Ex-Zell Partner in Real Estate Bet

bloomberg.com — New York Life Insurance Co. is turning to billionaire Sam Zell's former partner to make bets on emerging-market real estate. The insurer took a stake in Jaguar Growth Partners and plans to commit as much as $100 million to the first fund at the firm, which will invest in properties in developing markets, according to a statement today.

Genworth, Once Part of GE, Offers Breakup Gains: Real M&A

bloomberg.com — Perhaps one breakup leads to another. Insurer Genworth Financial Inc. (GNW) could reap $4 billion for shareholders by splitting up a decade after General Electric Co. (GE) pushed it out on its own. Shares of the $6.3 billion insurer are trading below the price at which GE took it public in 2004.

Axa Cites Marriage of Jacob in Defending Derivatives

bloomberg.com — To fight wrong-headed oversight, insurers traditionally turn to lobbyists and lawmakers. Axa SA (CS) is picking up the Bible. Some regulators have proposed restrictions on contracts that they see as new and risky. The Bible shows there is a long history of making such deals, said Christian Thimann, who joined Axa SA from the European Central Bank this year.

Oaktree Will Pay Wintrob at Least $5 Million as First CEO

bloomberg.com — Oaktree Capital Group LLC (OAK), the world's biggest distressed-debt investor, will pay Jay Wintrob at least $5 million a year as chief executive officer. Wintrob will be paid in cash and operating units as part of a profit-sharing plan, in which he'll receive at least 1.5 percent of the firm's operating income, Los Angeles-based Oaktree said in a regulatory filing today.

JPMorgan’s Data Breach Reveals Growth Market for Insurers

bloomberg.com — Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that's been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this year from about $1 billion in 2013, according to Bob Parisi, head of the network security and privacy practice at Marsh, the insurance brokerage arm of Marsh & McLennan Cos.

Buffett Says He’d Bet on Clinton Presidential Victory

bloomberg.com — Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said he thinks Hillary Clinton will be the next U.S. president. "Hillary is going to win," Buffett said today at the Fortune's Most Powerful Women Summit in Laguna Niguel, California. "I will bet money on it. I don't do that easily."

Marks’s Oaktree Names Ex-AIG Executive Wintrob as First CEO

bloomberg.com — Oaktree Capital Group LLC named Jay Wintrob, the former head of American International Group Inc.'s life insurance business, as its first chief executive officer. Wintrob, who's been a member of Oaktree's board since 2011, announced his departure from AIG last month after he was passed over in the company's search for a new CEO.

Ex-AIG Chief’s Lament Is Missing Time With Rabbi Daughter

bloomberg.com — After five years rebuilding American International Group Inc. (AIG) in the wake of a government bailout, Robert Benmosche said his biggest regret has nothing to do with the turnaround of the insurer. It was that he missed most of a Jewish High Holiday prayer service that his daughter, Nehama, led in Florida shortly after he took over as AIG's chief executive officer in 2009.

MetLife Challenges Risk Tag, Sets Stage for Court Clash

bloomberg.com — MetLife Inc. (MET), the largest U.S. life insurer, is challenging a U.S. finding that it poses a potential risk to the financial system if it were to fail. MetLife requested a hearing before the Financial Stability Oversight Council, or FSOC, to explain why the firm shouldn't be considered a systemic risk, the New York-based insurer said today in a regulatory filing.

Berkowitz’s Fairholme Loses Annual Gain on Fannie-Freddie

bloomberg.com — Oct. 2 (Bloomberg) --- Bruce Berkowitz's main mutual fund erased more than a year of gains yesterday after a court ruling sent the value of securities tied to Fannie Mae and Freddie Mac tumbling. The Fairholme Fund (FAIRX) fell 9.6 percent, which dropped the fund's price back to where it was in July 2013, according to data compiled by Bloomberg.
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Oct 23, 2014

RT @ek_obrien: #NYC #Ebola report wreaking havoc in markets. #SnP500 futures down 0.7% and yen, Treasuries rising

Oct 23, 2014

RT @ChrisDolmetsch: In Case of Ebola, U.S. Has Stockpile of Expired Sanitizer - Bloomberg via @BloombergNews bloom.bg/ZPl4NK

Oct 23, 2014

In which @taralach examines whether you can get organic growth via M&A bloomberg.com/news/2014-10-2… (SORRY)

Oct 23, 2014

All your juicy retirement account contribution limit news, straight from the IRS: irs.gov/uac/Newsroom/I…

Oct 23, 2014

RT @SitkaWriter: Tobacco company Reynolds bans smoking at its offices. Tobacco company Reynolds recognizes irony: bloom.bg/1oy1bX6 @DuaneStanford

Oct 23, 2014

RT @LisaAbramowicz1: Some odd trading suggests a Treasury trader failed to do their homework. @mattleising @johndetrixhe @http://bloom.bg/1zmhZVs @BloombergNews

Oct 23, 2014

RT @RichardRubinDC: IRS inflation adjustment alert: You can put up to $18,000 in your 401(k) in 2015.

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