Admiral offers travel insurance from UK as country lifts quarantine requirements

Admiral Insurance has begun selling travel insurance with specific provisions related to COVID-19, after a four-month hiatus in the business, as the United Kingdom eases quarantine requirements, making travel abroad less cumbersome.

Franklin Templeton to close Canadian version of senior loan ETF

Franklin Templeton’s Canadian arm said on Friday that it will shutter the Canadian dollar hedged version of Franklin Liberty Senior Loan ETF (the ticker symbol is FLSL), with the closure set to be completed in September.

Fintech Marqeta, backed by Goldman Sachs and Visa, eyes IPO: Reuters

Marqeta, a fintech that provides a platform for card issuers and whose backers include Visa and Goldman Sachs, is exploring an initial public offering, Reuters reported on Thursday.

HSBC Bank Canada provides country’s first green loan

HSBC Bank Canada has issued the country’s first green loan, the company said Thursday, converting an existing 71.5 million Canadian dollar (about $52.6 million) loan to Vancouver-based Concert Properties and building on HSBC’s sustainability goals.

Insurers to pay record 1.2B Canadian dollars for Calgary hailstorm damage

A hailstorm that pummeled Calgary last month was the most expensive in Canada’s history, costing insurers 1.2 billion Canadian dollars ($884 million) in property damages, the Insurance Bureau of Canada said Wednesday.

CI Financial expands US presence with purchase of two wealth firms

Canada’s CI Financial Corp. said Wednesday that it increased its recently established U.S. presence by closing on deals to acquire interests in The Cabana Group and Congress Wealth Management, advancing its strategy of becoming a more global firm.

Northern Trust boosts European presence with 3 new insurance clients

Wealth management company Northern Trust has taken on three new European insurance clients, it said Thursday, providing global custody services to help protect the companies’ assets.

Prudential Retirement closes $1.7B in longevity reinsurance deals in first half of 2020

Despite the global pandemic’s economic impact, Prudential Retirement said Thursday that it has flourished in the first half of 2020, closing some $1.7 billion in new longevity reinsurance transactions thanks to a resilient U.K. pension market.

Bank of China’s Malaysia arm adopts UnionPay QR code payments

The Bank of China’s Malaysian outpost has begun using a QR code payment option for customers around the world who use the bank’s app, reflecting the current high demand for digital services as well as the bank’s continued interest in the Southeast Asian country.

Interactive Brokers expands Singapore presence with new local entity

Interactive Brokers said on Tuesday that it has expanded its presence in Singapore with the opening of an office and the establishment of a local operating entity, moves that come as the company reports a rising clientele in Asia.

American Express, Discover, Mastercard and Visa commit to global expansion of online checkout system

American Express, Discover, Mastercard and Visa said on Wednesday that they are each starting technical preparations to expand the Click to Pay online checkout system globally, offering consumers a “streamlined experience across any digital checkout environment or network” as the pandemic has accelerated the shift to digital payments.

Sun Life expands sustainability options with new ESG framework

To keep members informed of sustainable investing options, Sun Life’s Group Retirement services has debuted a proprietary Environment, Social and Governance evaluation framework, the insurer said Tuesday.

National Bank of Canada doubles down on fintech as banks rush to boost digital investing features

Montreal-based National Bank of Canada is expanding its collaborative position in Canadian fintech Nest Wealth with an additional strategic investment, speeding up efforts to introduce new digital features for independent brokers on its platform.

Australian fintech Afterpay plans AU$800M equity raising

Afterpay, a fast-growing Australian fintech that allows consumers to buy goods and make interest-free payments for them later, said Tuesday that it plans to issue roughly AU$800 million (nearly $557 million) worth of new shares to fund continued expansion as it benefits from the movement toward online spending due to COVID-19.

UBS’ UK pension scheme enters into £1.4 billion longevity hedge

UBS U.K. Pension and Life Assurance Scheme has covered £1.4 billion ($1.8 billion) of defined benefit pensioner liabilities through a longevity swap with Zurich Assurance.

RBC commits CA$150M to minority businesses, promises greater leadership diversity

Royal Bank of Canada pledged on Monday to invest 150 million Canadian dollars ($111 million) in black- and Indigenous-owned businesses, as well as raise diversity targets, in the latest move by a global financial firm to confront growing civil unrest over racial disparities and discrimination.

Kraken scores regulatory approval for crypto futures exchange in UK

Cryptocurrency trading platform Kraken will become the first licensed crypto futures exchange in the U.K. after securing local regulatory approval, cementing its position as the continent’s largest marketplace for digital assets by trading volumes.

La Capitale, SSQ Insurance complete merger

Canadian insurance companies La Capitale and SSQ Insurance have completed their merger, they said Friday, creating the nation’s largest mutual insurance company.

Citigroup holds off on returning its workforce to offices as COVID-19 cases surge

With confirmed cases of COVID-19 seeing a resurgence in many areas of the country, Citigroup is holding back on its original plan to return many of its employees to offices, the company confirmed Wednesday.

Scotiabank launches sustainable finance group to make progress toward climate pledge

Scotiabank on Tuesday created a new finance group to help clients conduct business more sustainably and contribute to the bank’s own climate-related goals.

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