Goldman Sachs Chairman and CEO David Solomon testifies before the House Financial Services Committee during a hearing in Washington, D.C. (AP Photo/Patrick Semansky, File)
Goldman Sachs Chairman and CEO David Solomon testifies before the House Financial Services Committee during a hearing in Washington, D.C. (AP Photo/Patrick Semansky, File)AccessFintech, a startup that specializes in supply chain management for financial firms and is backed by several major banks, said Monday that it is teaming up with investor Goldman Sachs to offer a service meant to make the cash settlement of derivatives more convenient.

Blackstone is a major backer of Paysafe Group. (AP Photo/Mark Lennihan)
Blackstone is a major backer of Paysafe Group. (AP Photo/Mark Lennihan)Paysafe Group, a payment services company backed by private equity firms Blackstone and CVC, is in talks to combine with a special purpose acquisition company supported by dealmaker Bill Foley, Bloomberg reported on Friday.

People's Bank of China Deputy Governor Pan Gongsheng speaks during the Bond Connect launching ceremony in Hong Kong. (AP Photo/Vincent Yu)
People's Bank of China Deputy Governor Pan Gongsheng speaks during the Bond Connect launching ceremony in Hong Kong. (AP Photo/Vincent Yu)Bloomberg on Thursday unveiled the first index geared towards liquid Chinese corporate bonds with investment-grade ratings, a development that comes as it is poised to complete a 20-month transition to add Chinese government and policy bank debt to its Global Aggregate Index, which is a flagship fixed-income benchmark.

Deutsche Bank has hired nearly 30 people away from Standard Chartered in recent months in a bid to bolster its wealth management unit in China, a spokesperson for the German bank said on Friday, making it one of several firms to focus more on the space as China opens up its financial sector.

An aerial view of Lower Manhattan in New York, where Marsh & McLennan Companies is based. (Photo by Florian Wehde on Unsplash)
An aerial view of Lower Manhattan in New York, where Marsh & McLennan Companies is based. (Photo by Florian Wehde on Unsplash)Insurance brokerage Marsh said Thursday that its Global Insurance Market Index, which measures global insurance premium pricing changes at renewal, showed a 20% year-over-year spike during the third quarter, an increase that it said is the index’s largest since it was established in 2012.

People gather in a bar with the skyline of Barcelona in the background. (AP Photo/Manu Fernandez)
People gather in a bar with the skyline of Barcelona in the background. (AP Photo/Manu Fernandez)A group of Spanish banks and insurance companies that includes Banco Santander, CaixaBank and Mapfre said on Thursday that they have partnered to work on a digital user identity based on blockchain, an offering that is meant to offer personal-data control and simplicity when signing up for services.

In this file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. (AP Photo/Steven Senne)
In this file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. (AP Photo/Steven Senne)Home-lending refinancing activity, which was boosted by a drop in interest rates earlier this year amid the COVID-19 downturn, is leveling off due to rates stabilizing, Bank of America Chief Financial Officer Paul Donofrio said on Thursday.

Bitcoin is among the collateral ErisX accepts for futures transactions, the company notes. (Photo by Dmitry Demidko on Unsplash)
Bitcoin is among the collateral ErisX accepts for futures transactions, the company notes. (Photo by Dmitry Demidko on Unsplash)ErisX, which offers Eris Clearing for cryptocurrency futures, said Wednesday that it will provide support for futures and swaps of all commodities following approval from the Commodity Futures Trading Commission of an amendment of its Derivative Clearing Organization license.

A man watches over a set promoting the Disney movie "Mulan" in Beijing on Wednesday, Feb. 19, 2020. (AP Photo/Ng Han Guan)
A man watches over a set promoting the Disney movie "Mulan" in Beijing on Wednesday, Feb. 19, 2020. (AP Photo/Ng Han Guan)Cincinnati Financial said on Wednesday that it is offering a pair of new insurance lines through its Cincinnati Global Underwriting unit that will cover production for TV and movies, along with valuables that are transported.

An employee walks past the logo of Ant Group at its office in Hong Kong, Oct. 23, 2020. (AP Photo/Kin Cheung)
An employee walks past the logo of Ant Group at its office in Hong Kong, Oct. 23, 2020. (AP Photo/Kin Cheung)Chinese fintech Ant Group is unlikely to be able to move forward with its suspended initial public offering unless it makes multiple changes to appease regulators, amid speculation that controlling shareholder Jack Ma’s comments criticizing regulation as stifling innovation led to the suspension.

The logo for Goldman Sachs appears above a trading post on the floor of the New York Stock Exchange. The company was an investor in LLamasoft. (AP Photo/Richard Drew, File)
The logo for Goldman Sachs appears above a trading post on the floor of the New York Stock Exchange. The company was an investor in LLamasoft. (AP Photo/Richard Drew, File)Private equity firm TPG said on Tuesday that it has sold its stake in supply chain software company LLlamasoft to Coupa Software as part of a deal worth around $1.5 billion, with Goldman Sachs among the fellow investors involved in the sale.

A view of Stockholm, Sweden, where Swedish insurer Folksam is headquartered. (Photo by Jon Flobrant on Unsplash)
A view of Stockholm, Sweden, where Swedish insurer Folksam is headquartered. (Photo by Jon Flobrant on Unsplash)Sweden’s Folksam said Tuesday that an estimated one million people have been impacted by a personal data breach caused by the insurer accidentally sharing information with multiple partner companies.

Workers in protective suits walk past a display board showing the stock market prices in the lobby of the Shanghai Stock Exchange building in Shanghai, China, Friday, Feb. 14, 2020. (AP Photo)
Workers in protective suits walk past a display board showing the stock market prices in the lobby of the Shanghai Stock Exchange building in Shanghai, China, Friday, Feb. 14, 2020. (AP Photo)The Shanghai Stock Exchange said on Tuesday that it suspended Ant Group’s initial public offering following a meeting the company’s leaders had with Chinese regulatory officials, citing what it said were significant issues, including changes in the fintech regulatory environment.

A man walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Oct. 12, 2020. (AP Photo/Vincent Yu)
A man walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Oct. 12, 2020. (AP Photo/Vincent Yu)HKEX said on Monday that it will offer options and futures tied to Ant Group, which will launch when the Chinese fintech’s shares start trading on Nov. 5 for its blockbuster initial public offering that is set to bring in more than $34 billion.

A Westpac branch in Sydney, Australia, Nov. 3, 2010. (AP Photo/Rick Rycroft, FIle)
A Westpac branch in Sydney, Australia, Nov. 3, 2010. (AP Photo/Rick Rycroft, FIle)Australian bank Westpac disclosed full-year 2020 results on Monday that were down sharply from the prior year, with hits coming from an anti-money laundering case that resulted in a record AUD 1.3 billion penalty ($917.43 million) and the impact of the COVID-19 downturn.

In this file photo, a Prudential Financial sign on the marquee direct customers to the company inside an office building in Salt Lake City. (AP Photo/Douglas C. Pizac, File)
In this file photo, a Prudential Financial sign on the marquee direct customers to the company inside an office building in Salt Lake City. (AP Photo/Douglas C. Pizac, File)Life insurer Prudential’s retirement plan division said on Friday that it has made a foray into the growing funded reinsurance space, which addresses pension de-risking, with a deal that it struck with Aviva.

Buses drive across Waterloo Bridge, against the backdrop of the City of London' skyline in London, Monday, May 18, 2020. (AP Photo/Alberto Pezzali)
Buses drive across Waterloo Bridge, against the backdrop of the City of London' skyline in London, Monday, May 18, 2020. (AP Photo/Alberto Pezzali)Aon said that its strong performance in the third quarter isn't likely to carry through to the end of the year, warning that the COVID-19 pandemic will continue to pressure discretionary businesses as the season turns.

Ant Group’s office in Hong Kong. (AP Photo/Kin Cheung)
Ant Group’s office in Hong Kong. (AP Photo/Kin Cheung)Ant Group said Thursday that retail investors were around 872 times oversubscribed for the Shanghai portion of its blockbuster initial public offering, a development that comes days after the Chinese fintech set pricing for its dual listing that could bring in more than $34 billion.

Buses drive across Waterloo Bridge, against the backdrop of the City of London' skyline in London, Monday, May 18, 2020. (AP Photo/Alberto Pezzali)
Buses drive across Waterloo Bridge, against the backdrop of the City of London' skyline in London, Monday, May 18, 2020. (AP Photo/Alberto Pezzali)Willis Towers Watson reported a soaring third-quarter profit on Thursday, rising by 52.5% year over year, a boost that it attributed in part to the impacts of selling its Max Matthiessen business in September to Nordic Capital for SEK 2.3 billion ($267.66 million) and a revenue increase from from its 2019 purchase of TRANZACT for $1.3 billion.

This file photo shows the Willis Tower, formerly known as the Sears Tower, in Chicago.(AP Photo/Robert Ray, File)
This file photo shows the Willis Tower, formerly known as the Sears Tower, in Chicago.(AP Photo/Robert Ray, File)Fundraising for insurtechs reached a record during the third quarter with proceeds coming in at more than $2.5 billion across 104 deals, Willis Towers Watson said on Wednesday in a new report.