Switzerland-based investment bank Credit Suisse wants to further its connection and finalize more partnerships with Swiss insurers as COVID-19 progresses, partly to better reach a younger demographic.
American International Group will be covering most of the reinsurance costs associated with the Air India Express plane that crashed at an Indian airport and killed 18 people, according to local media reports.
Fitch Ratings put two French subsidiaries of Aviva on negative ratings watch, citing the U.K. parent company’s strategic direction, which appears to involve pulling back from doing business in some markets abroad.
Despite escalating tensions between China and the U.S., China’s central bank head pledged Sunday to “resolutely deepen” integration between the world’s two largest economies by continuing to eliminate ownership restrictions for foreign financial firms.
Chinese technology company ByteDance is applying for licenses to operate financial services in Hong Kong and Singapore, which would make it the latest company of its kind to enter the finance sector, according to Chinese newspaper 21st Century Business Herald.
The Shanghai Financial Court ruled that state-owned Everbright Capital Investment must pay a total of around RMB 3.5 billion ($502.7 million) to two partner investors over losses they incurred from the acquisition of a British sports media company that went bust.
Non-listed regional Chinese banks will benefit from the recent resumption of equity private placement approvals, which function as an important source of capital, Moody’s Investors Service said in a new report released Monday.
Prices in the global commercial insurance market showed a record surge over the past three months, following 10 consecutive quarters of increases, as rates continued to rise in property and financial and professional lines.
China retaliated Monday by levying its own sanctions against U.S. officials in response to U.S. sanctions introduced last week that left banks in Hong Kong to grapple with how to operate without running afoul of the local government.
Facebook has formed a new group to steward all things payment-related at the technology company, putting David Marcus, co-creator of the Libra cryptocurrency project, in charge.
Chinese regulators say they see positive signals of economic recovery coming out of the first half of the year, bolstered by the country’s banking and insurance industries even as profits in the financial industry fell to CNY 1 trillion ($143.7 billion) in the second quarter.
Australia’s financial regulator on Monday said it will resume issuing new licenses and reopen public consultations for high priority policy reforms after suspending both activities because of the uncertainty created by the coronavirus pandemic.
A Bank of Japan committee released a six-quarter timeline on Friday depicting how it will move Japanese financial contracts off a widely used interest rate benchmark before its discontinuation at the end of 2021.
Chinese technology company Huawei unveiled a cloud-based product that aims to help merchants integrate digital payment services onto “super apps” as mobile payments expand rapidly worldwide.
QBE Insurance on Friday said the CEO of its Australia-Pacific unit will resign his post at the company, taking up a new position at pension administrator Link Group in a decision made days ahead of the insurer’s half-yearly earnings release.
Third Point Reinsurance said Friday that it will buy Sirius International Insurance Group, a fellow reinsurer, in a deal that its leadership said will be coupled with more focus on underwriting and diversified offerings.
MUFG Bank said on Friday that it is partnering with Liquidity Capital, an Israeli fintech, to launch a new joint-venture company that will offer debt financing for startups.
Singapore police have reportedly charged a local businessman with falsifying documents related to the Wirecard scandal, marking the first charges the city-state has brought in connection with the alleged accounting fraud that has sparked criminal inquiries across the globe.
The Australian central bank said it will stay the course on its coronavirus economic relief measures, despite a prolonged slump that could keep unemployment above pre-pandemic levels through 2022.
The outgoing head of Insurance Australia Group on Friday urged the local government to cover the rising tide of claims related to the COVID-19 pandemic, warning that insurers won’t have enough capital to absorb those shocks.