L&G completes £1.6bn buy-in with BP Pension Fund
UK insurer Legal and General Assurance Society Limited (L&G) has completed a £1.6 billion buy-in with the BP Pension Fund, marking the first transaction for the £18 billion Fund.
Cinven makes majority investment in Objectway
Private equity firm Cinven has made a majority investment in Italian wealth management technology provider ObjectWay. Terms of the transaction were not disclosed.
2024 climate disasters cause billions in losses highlighting urgent need for action: Christian Aid
The year 2024 saw several extreme climate disasters that resulted in billions of dollars in insured losses, underscoring the urgent need to reduce carbon emissions, accelerate the transition to renewable energy, and provide funding for vulnerable populations, according to Christian Aid.
BMA data suggests majority of Bermudian insurers purchased external cat reinsurance in 2023
A new study by the Bermuda Monetary Authority (BMA) on catastrophe risk modelling practices on the island has found that the number of insurers purchasing little or no external catastrophe reinsurance decreased in 2023, which reflects the heightened demand for coverage during the year.
US hiring picks up, showcasing solid job market ahead of tariffs
US job growth topped all forecasts in March, suggesting the labor market was holding up well before President Donald Trump’s…
Berkshire specialty unit adds Canadian executive lines
D&O, Excess and Surplus Lines, P/C Insurers, Products & Services Canada Berkshire Hathaway
LCH gets green light to clear Bitcoin index derivatives
London Stock Exchange Group-owned LCH has secured regulatory approval to clear cash-settled Bitcoin index futures and options contracts.
Carvana originations nearly flat as credit tightens
Used-vehicle retailer Carvana’s loan originations ticked down in the fourth quarter following months of credit tightening as the company eyes…
JPMorgan rolls out sustainable investment data product suite
JPMorgan is to equip institutional investors with sustainable investment data cherry-picked from a raft of market data providers.
Starling to invest $50 million to take Engine to the Americas; hires Jody Bhagat to spearhead push
Starling Bank’s SaaS arm, Engine, has named industry veteran Jody Bhagat to lead its expansion into North America.
Swiss crypto firm launches university courses
Swiss crypto bank Seba has sought to address the potential skills gap in emerging technology by launching a blockchain-themed university education course.
Automakers extend $7,500 EV discount after federal subsidy expires
General Motors Co., Hyundai Motor Co. and Ford Motor Co. said they would extend discounts on certain electric models after…
Fifth Third Bank faces $200M in provisions from Tricolor ‘fraud’
Fifth Third’s auto portfolio grew in the third quarter, despite the potential loss of millions following subprime lender Tricolor Holdings’…