Fintech Clara is moving its headquarters from Mexico to Brazil after obtaining a central bank license to operate as a payment institution, a move set to boost the firm’s expansion in the country it sees becoming its top market by next year.
Global insured losses from natural catastrophes rose to $50 billion in the first half of 2023, driven by claims in the United States after a series of thunderstorms, a report from reinsurer Swiss Re on Wednesday showed.
India’s Tata Capital plans to raise 280 billion rupees ($3.38 billion) mainly through debt instruments and bank lines in the current financial year to fund its double-digit credit growth, a top executive at the non-banking finance company (NBFC) said.
Lloyd’s of London insurer Hiscox posted a sharp rise in pretax profit on rising premium rates, but its shares fell on Wednesday as analysts focused on a disappointing retail outlook.
The German reinsurer Hannover Re on Wednesday posted a 18% rise in net income in the first half of 2023, helped by its life and health insurance unit and investment income, and it said it was confident about meeting its full-year targets.
Commonwealth Bank of Australia , the country’s biggest lender, posted record annual profit on Wednesday as rising interest rates helped it charge customers more, but warned higher living costs were pushing up debt arrears and competition was squeezing margins.
Australia’s prudential regulator said on Wednesday Bendigo and Adelaide Bank no longer needs to keep an additional amount of cash reserve after the mid-sized lender took steps to rectify issues related to liquidity requirements.
The U.S. House of Representatives Oversight Committee said on Tuesday it has opened a probe into the Federal Trade Commission’s (FTC) regulation of vision care over concerns about concentration in the insurance market.
Australia’s Suncorp Group on Wednesday posted a sharp jump in full-year cash earnings and said it expects an improvement in margins in the medium term from higher renewal premium rates in its insurance segment.
Canada’s Sun Life Financial reported better-than-expected quarterly profit on Tuesday, helped by its acquisition of dental benefits provider DentaQuest and strong insurance sales at home.
