HSBC buy Axa’s Singapore operations in bid to boost Asia fee income August 16, 2021 HSBC has agreed to acquire Axa’s Singapore operations in a bid to boost its fee incomes in the Asia market. HSBC said in a statement that the combined unit comprising HSBC Life Singapore and Axa Singapore would be the seventh-largest life insurer and the fourth-largest retail health insurer in Singapore. HSBC currently ranks 10th in [...]
Wall Street smashes records yet again August 13, 2021 Wall Street opened higher today to breach record highs once again driven by a string of strong earnings reports. The S&P 500 came out of the blocks quickly to hit an all-time high, but fell back slightly to rise 0.06 per cent to 4,463.75 points in the early afternoon session. Similarly, the Dow Jones sped [...]
US insurance giant Gallagher snaps up Willis reinsurance arm in $3.25bn deal August 13, 2021 US insurance giant Arthur J. Gallagher has announced it will buy the treaty reinsurance brokerage arm of Willis Towers Watson for a proposed cash consideration of $3.25bn (£2.35bn). It comes just over a fortnight after Willis agreed to terminate a $30bn (£22.9bn) merger agreement with Aon, in what would have created the world’s largest insurance [...]
Job ads dip for first time in two months August 13, 2021 Job vacancies fell for the first time in two months suggesting that severe worker shortages that have plagued the UK labour market are starting to clear, according to new figures released today. Data from the Recruitment and Employment Confederation shows the number of active job postings dropped by 2,000 over the last week, the first [...]
US stocks climb to record highs as inflation clip higher than expected August 11, 2021 US stocks climbed to record highs today as investors were boosted by data showing inflation growth in America may have peaked. The Dow Jones hit a record high today, surging 0.57 per cent to 35,465 points. The blue-chip S&P 500 also trailed higher, up 0.19 per cent to 4,444 points. However, the tech-heavy Nasdaq dropped [...]
The latest British unicorn? Insurtech Marshmallow is waiting in the wings August 11, 2021 Marshmallow Financial Services is soon to announce its latest fundraising round that will bring its valuation to $1.2bn (£869m), joining the ranks of other recent UK unicorns Starling Bank, Gousto and Zego. Its latest cash injections is fuelled largely by existing investors, according to reports in Sky News citing “city insiders” with knowledge of the [...]
Cardano surges with smart contract upgrade imminent August 11, 2021 Crypto at a Glance The cryptocurrency markets continue to climb today, with the Bitcoin price up another 2 per cent over the past 24 hours to more than $46,300 at time of writing. Ethereum is also up around 4 per cent to more than $3,200. Can they keep the upward momentum today? The market’s resurgence [...]
Admiral posts strong half-year results as pre-tax profit jumps 76 per cent August 11, 2021 Admiral has posted strong half-year results for the period up to the 30 June 2021 as their decision to adjust pricing on pandemic-related claims looks to have paid off. The insurance company saw its pre-tax profit jump by 76 per cent, from £274.4m this time last year to £482.2m for the six months to 30 [...]
Covid: West End shows halted as self-isolation rules hit theatres August 10, 2021 While the end of lockdown restrictions promised a show-stopping return for the West End, self-isolation troubles mean London theatres are still being forced to put productions on ice. Joseph and the Technicolour Dreamcoat, Jersey Boys and The Lion King have all been forced to cancel performances in recent days after cast or crew members were [...]
Fine dining restaurant planned for the top of Lloyd’s of London August 10, 2021 Lloyd’s of London is considering adding a Michelin-starred restaurant to the top of its headquarters as part of a revamp of the insurance marketplace’s iconic building spaces. The creation of a high-end restaurant with enviable views of London is being considered as a way to create ‘destination style’ experiences, and attract more clients and members of [...]