F&G sells life reinsurer to create company led by Blackstone veteran
Ancient Financial enters crowded market to manage assets for US retirees
Ancient Financial enters crowded market to manage assets for US retirees

Plans come as private capital groups have hitched their growth to managing assets held by US insurers

Deal comes as large insurers and asset managers compete more aggressively for UK pension assets

Regulatory gaps mean firms can have ‘much more leverage and a different investment appetite’, reinsurance boss says

Nascent strategic shift complicated by sudden departure of chief who led group’s rebirth as a US-focused insurer

Chak Raghunathan cites heavy reliance on untested private credit and newer savings products that are vulnerable to withdrawals

Regulator to change capital rules on ‘funded reinsurance’ over concerns sector is exploiting arbitrage