Former Gallagher Re exec named next CEO of BMS Re Bermuda
P/C Insurers, Reinsurance Bermuda Arthur J. Gallagher & Co.
Mollie agrees GoCardless acquisition
Mollie has agreed a deal to acquire GoCardless, marking a new wave of consolidation in the venture-backed fintech payment sector.
USED CAR WEEK 2023 PODCAST: Path to improved repossession & remarketing logistics
We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features a dealer panel titled, “Building the Bridge for Lenders to Improve Remarketing Logistics.” The session was … [Read More]
Scotland launches North America Fintech Gateway
Scotland has unveiled a “Fintech Gateway” with North America in an effort to accelerate international growth for the country’s fintechs while attracting a wave of foreign direct investment.
Edmunds spots 3 new records connected to negative equity in Q3
The newest auto-finance data Edmunds released on Wednesday focused specifically on new-vehicle purchases and excluded used. But it still showed the conundrum lenders are facing nowadays associated with average negative equity, which climbed to an all-time high in the third … [Read More]
Ageas finalises deal to acquire Saga’s underwriting business
International insurance group Ageas has announced the successful conclusion of exclusive negotiations with Saga plc, a UK specialist provider of products and services to people aged over 50, for Ageas UK to acquire Saga’s insurance underwriting business, Acromas Insurance Company Limited (AICL).
Turkish crypto chief starts 11,196-year prison sentence
Faruk Fatih Ozer, the former boss of failed Turkish cryptocurrency exchange Thodex, has started a lengthy jail sentence after he was found guilty of defrauding investors in a multimillion dollar fraud.
As delinquency continues to rise, consumers’ view on buying vehicles deteriorates, too
Signals about what happens before and after a vehicle is delivered and financed aren’t so rosy. Cox Automotive chief economist Jonathan Smoke pointed out that the initial October reading of consumer sentiment from the University of Michigan showed, “Consumers’ views … [Read More]
62% of US insurers willing to take more investment risk in 2024: Conning survey
62% of US insurers have said that they are willing to take more investment risk in 2024, even with concerns rising in regards to election year politics, fiscal/monetary policy, persistent inflation and volatility, according to a recent survey sponsored by insurance asset management firm Conning.
Mastercard rolls out first of a suite of GenAI assistants
Mastercard has launched a GenAI-based digital assistant designed to speed up customer onboarding.
Resolution Re announces £2bn funded reinsurance transaction
Resolution Life’s Bermudian reinsurance platform, Resolution Re, has executed a new reinsurance transaction in which it reinsured the market and longevity risks of around 90,000 policyholders – c.£2 billion ($2.5bn) of individual in-payment UK annuity liabilities. The transaction was completed at the end of 2023, and is Resolution Re’s second funded reinsurance transaction in the UK market.
Lord Christopher Holmes selected for SustainableFinance.LIVE keynote
Lord Christopher Holmes, Baron Holmes of Richmond will open Finextra’s fifth SustainableFinance.LIVE conference and hackathon as keynote speaker on the 29th of November.
Citi appoints CEO as chair of the board
US investment bank Citi has named its current CEO, Jane Fraser, as chair of the board of directors.
Former bank employee jailed over £130,000 fraud
A former bank employee and his acccomplice have been sentenced to a combined total of five years and seven months in prison after stealing £130,000 from customer accounts.
Cytora enhances underwriting capabilities with Autoaddress’ Address Capture
Cytora, a digital risk processing platform, brings fast, reliable, and secure address capture capabilities with the integration of Autoaddress’ Address Capture into its underwriting productivity tool.