Australian insurance companies will likely continue to see depressed earnings and slow premium growth this year as the COVID-19 pandemic and extreme weather dampen economic conditions, according to Fitch Ratings.
Executives at Bain Capital during a conference call Friday highlighted “significant improvements” in finances that would prepare it for strong future performance, even as the U.S. private equity firm’s investment activity fell to its lowest in years during the pandemic.
Goldman Sachs leaders are building “ample and incremental confidence” in the investment bank's ability to meet performance targets set in January despite the COVID-19 pandemic’s economic disruption, Chief Operating Officer John Waldron said at a virtual conference on Thursday.
Private equity firm Bain Capital sank only $30 million of new money into portfolio of companies during the third quarter, nearly 90% less than the same period last year, as the COVID-19 pandemic continued to disrupt markets.
French investment bank Natixis said one of its units will exit London-based H2O Asset Management after being the firm’s majority owner since its founding in 2010, following controversy over the disclosure of investments in hard-to-sell bonds.
Invesco said Thursday that it is expanding its board of directors by three seats and bringing in two top executives of Trian Partners, as the activist investment firm looks to steer Invesco into a merger with a competitor.
Citigroup will manage newly sold securities in the U.S. for Chinese lender Lufax, which made its American exchange debut by raising $2.36 billion, the New York-based bank said on Monday.
Guotai Junan Securities completed the first securities lending transaction through China’s reformed qualified foreign institutional investor program, a step the country has taken to further open up its financial markets.
Stablecoins, an emerging type of digital currency, will likely threaten Europe’s monetary authority, finance markets and consumer safety without proper regulation, a board member of the European Central Bank warned.
JPMorgan may face a monetary penalty from U.S. regulators for faults in its internal rules and procedures, the bank said on Monday in a regulatory filing, one month after it paid a record settlement in a spoofing probe.
Seven major banks placed their first transactions between two blockchain trade-finance platforms in Hong Kong and China, with the intent of simplifying the infrastructure for international trade.
China Pacific Insurance, China’s fourth-largest insurance company by net premiums written, posted a weakened bottom line in its third-quarter earnings report on Monday despite the country’s economic recovery following the COVID-19 pandemic.
Four Japanese financial institutions and automaker Toyota will establish a new fund to support the country’s manufacturing sector through the COVID-19 pandemic, the companies said Monday.
Australia’s central bank recruited a team that includes major banks and a blockchain company to create and test a prototype central bank digital currency, in the country’s biggest step yet in pursuing the emerging payment technology.
Specialty insurance and reinsurance carrier Argo Group will no longer provide policies for the retail and grocery markets, the Bermuda-based firm said Thursday, as it continues to hunt down insufficiently profitable units.
Personal-finance firm Credit Karma is in talks to sell its tax-preparation unit Square to ease federal antitrust concerns over its pending $7.1 billion buyout by TurboTax operator Intuit, The Wall Street Journal reported Friday.
Aflac will acquire about 9% of pet insurer Trupanion as part of an agreement to sell policies in U.S. worksites, the companies said on Thursday in a joint statement, as the pet insurance market continues to expand.
AllianceBernstein said Thursday it will hold itself and its suppliers to stricter criteria on climate change and unethical labor practices, joining a steady trend of institutional investors imposing new ethical standards.
Raymond James is focusing on curbing risk and expenses despite reporting record quarterly revenues and assets under management, with uncertainty over COVID-19 remaining top-of-mind for executives.
Life insurer Equitable Holdings said on Tuesday that it agreed to reinsure $12 billion of its old variable-annuity policies with Venerable as it looks to “de-risk” its operations and move away from capital-intensive business lines.