Sampo said its 2024-2026 Solvency II ratio might fall compared to the prior three years, as the Finnish insurer unveiled new medium-term targets ahead of its capital markets day on Wednesday.
The chief executive of Swiss bank UBS chastised European regulators for letting the United States get ahead in banking since the financial crisis, amid continuing debate over the future of global mega banks.
Morgan Stanley has laid off about 9% of its staff at its asset management business unit in China, two people with direct knowledge of the matter said, as the country’s spiralling stock market dampens prospects for its $3.8 trillion fund sector.
Australia’s corporate regulator said on Wednesday it issued a letter to the country’s general insurance firms asking for improvement in insurance claim handling practices, especially in response to severe weather events.
British wealth manager Quilter said on Wednesday it would review historical services provided to customers amid heightened regulatory scrutiny of charging by fund managers.
British life insurer Legal & General said it missed expectations for 2023 operating profit on Wednesday amid tough market conditions, dashing residual investor hopes of a share buyback and sending its stock lower in early trading.
Administrators of the Euribor bank-to-bank lending rate said on Wednesday they will roll out planned changes from May, in a move that could mean more banks contributing to a benchmark used in products from mortgages to car loans worth trillions of euros.
India’s central bank on Wednesday said issuers of credit cards cannot enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks.
The Bank of Japan is expected to revise down its assessment on consumption and factory output this month, three people familiar with its thinking said, nodding to recent weak signs in the economy that underscore the fragile state of its recovery.
Piyush Gupta, CEO of Singapore’s biggest bank DBS Group and one of the highest paid CEOs in the city-state, saw his total compensation dropped 27.3% for 2023, according to the lender’s annual report published on Wednesday.
