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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.