French investment bank Société Générale said Monday that it was embarking on “several organizational adjustment projects” that are expected to lead to the elimination of 640 positions, the latest step in its cost-reducing plan for the next two years.
Aon said Friday that large insured losses are expected from an Oct. 30 earthquake that damaged thousands of buildings in Turkey and Greece, with the United States Geological Survey estimating losses up to $1 billion.
CVS Health tapped Aetna President Karen Lynch as its the new CEO on Friday , as the health care company revealed that its benefits segment showed a 24.1% year-over-year drop in adjusted operating income for the third quarter due to planned COVID-19-related investments and the divestiture of its workers’ compensation business.
Barings, a subsidiary of insurer MassMutual, said Thursday its current president Mike Freno, who has been credited with keeping the company strong during the COVID-19 pandemic, has been named chairman and CEO of the $346 billion asset manager as its current leader departs to join the board at Invesco.
Wells Fargo will freeze increases in base pay for employees making more than $150,000, Bloomberg reported, the latest in a series of cost-cutting moves at the bank.
The head of JPMorgan Chase's assets and wealth management arm said Thursday that asset managers have found remote work so productive that they're not in any hurry to get back to the office, as the work-from-home environment during the COVID-19 pandemic has provided more time for thoughtfulness about financial goals.
A day after Australia’s central bank slashed interest rates to historic lows, the country’s four largest banks responded by reducing fixed small-business and home-lending rates, in some cases to record lows for the banks, but left variable interest rate mortgages untouched.
On the morning after Election Day with the outcome of the U.S.presidential race yet to be decided, Progressive CEO Tricia Griffith took time during a third-quarter earnings call to address the need for new government stimulus, raising the minimum wage and ensuring that race is kept out of insurance pricing.
Deutsche Bank’s success so far in its restructuring efforts have led Moody’s to affiirm the bank’s ratings and upgrade its outlook from negative to stable on its A3 long-term deposit and senior unsecured debt ratings, the ratings service said Tuesday.
Australia’s central bank cut interest rates to new lows Tuesday and unveiled a significant new government bond-buying program in an effort to boost the country’s economy and reduce unemployment as it recovers from the COVID-19 pandemic.
Hong Kong’s markets watchdog is proposing an expansion to its cryptocurrency regulations that would widen its supervisory net to cover all centralized virtual trading platforms, including those that trade only in nonsecurity tokens such as Bitcoin.
Citigroup's veteran chief risk officer is departing as the bank faces regulatory and investor scrutiny over deficiencies in risk management, and the bank also revealed Monday that it named an insider to succeed Jane Fraser as CEO of global consumer banking when she becomes company CEO in February.
Blue Cross and Blue Shield companies have agreed to pay $2.67 billion to settle a long-running antitrust class action that accused the health insurers of unlawfully divvying up the U.S. into segments where they did not compete with one another.
Continuing with its ambitious plans to expand its reach across Europe, Italian digital-payments company Nexi said Monday that it has entered into exclusive talks for an all-share merger reportedly valued at over $8 billion with Nets, a Denmark-based payments firm active in 20 countries across the continent.
Visa Direct, the credit card network's instant-payments platform, has struck a partnership with Mumbai-based RBL Bank, expanding the platform's reach across India.
Mapfre executives said Friday that they will pay a EUR .05 (about 6 cents) dividend per share in December, cutting it down by the equivalent about about 1 cent to strengthen the Madrid-based insurers’ capital position.
A little more than a month after New York’s state financial regulator told insurers to begin analyzing climate-related financial risks, the agency said Thursday that it’s expanding those efforts to begin making sure that banks and the other financial institutions evaluate those risks and include them in their risk management strategies as well.
Intercontinental Exchange executives said Thursday that integration of mortgage software company Ellie Mae into its operations is off to a strong start, as the company reported that its mortgage technology revenues were up 62% year over year despite an overall dip in profits.
Intact Financial Corp., Canada’s largest property and casualty insurer, said Tuesday that it will no longer offer optional automobile coverage in British Columbia, in response to upcoming regulatory changes in the province that it critics say will restrict competition and customer choice.
Ongoing COVID-19 costs and a return to near normal levels of health care visits not related to the pandemic led to a sharp year-over-year decline in earnings for Anthem, the health insurer reported Wednesday, a reversal from the previous quarter when profits surged.