Aviva succumbs to allure of robo-advice with Wealthify purchase
UK insurer Aviva has acquired a majority stake in a startup robo-adviser for an undisclosed sum.
Data center construction boom fuels insurance demand
Construction, Risk Management Aon, Marsh & McLennan
Mastercard and PayPal make agentic commerce plays
Mastercard has unveiled Agent Pay, its new agentic payments technology to power commerce in the age of AI. Separately, PayPal has made its own agentic commerce play, with new tools for developers.
Selective reports $991.5m in NPW in Q4 results
Selective Insurance Group has posted $991.5 million in net premiums written (NPW) for the fourth quarter of 2023, representing a 17% or $142 million increase from the prior year period.
Esma calls for 2027 EU T+1 migration
The European Securities and Markets Authority (Esma) has called for the EU to migrate to a T+1 settlement cycle by October 2027, ensuring coordination with the UK.
Stable performance for PPL new platform following transitioning challenges
Placing Platform Limited (PPL) has confirmed continued strong and stable performance during peak June and July renewals following remediation and performance initiatives that resulted in enhanced platform performance.
EBAday: Banks are seeking new approaches to level up sustainable strategies
In the panel ‘Sustainable finance: Assessing shades of green across payments and banking’, hosted by Finextra’s own Madhvi Mavadiya, speakers explored how the European banking landscape is adopting sustainable strategies.
EvolutionIQ raises $21m in Series A funding
Claims guidance platform EvolutionIQ has raised $21m in Series A funding.
ILS new issuance jumps to record volume in 2023: Swiss Re
Insurance-linked Securities, P/C Insurers, Reinsurance Axis, Chubb Ltd., Swiss Re
Lombard International rebrands to Axcelus Financial following BroadRiver acquisition
Lombard International US & Bermuda has announced that it is rebranding to Axcelus Financial after getting acquired by an affiliate of specialised asset management firm BroadRiver Asset Management, L.P.
UK RegTech NorthRow explores sale
UK RegTech platform NorthRow has appointed boutique investment advisory firm Lazarus Consulting to explore options for growth investment or a full sale of the business.
Klarna reported to Norway’s Consumer Authority
Norway’s Consumer Council has referred Klarna to the country’s Consumer Authority over an alleged failure to provide clear details about interest paid on its buy now, pay later products.
Citi’s Tony McLaughlin on CBDCs, Libra and bitcoin
Tony McLaughlin of emerging payments and business development at Citi tells Finextra TV of his soft spot for bitcoin as an alternative investment, but points out the inefficiencies that still afflict the cryptocurrency.
AXA XL appoints Christopher Lee head of E&S property insurance
AXA XL, the property & casualty and specialty risk division of AXA, has promoted Christopher Lee to lead its Excess & Surplus property insurance business.
Revolut gets Mexico banking license
UK-based fintech Revolut has received the greenlight to start full banking operations in Mexico.