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Tag: lines

Berkshire Hathaway Specialty Insurance Names Louise Kidd Head of Third Party Lines in Ireland

October 12, 2020
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| insurance

Berkshire Hathaway Specialty Insurance (BHSI) today announced that Louise Kidd has joined its growing European team as Head of Third Party Lines in Ireland.

“As our Irish team continues to expand, we are delighted to have Louise leading our efforts to bring proven underwriting acumen and service to the third-party risks of customers throughout Ireland,” said Hilary Browne, Country Manager, Ireland, and Head of Casualty, UK & Europe. “Her deep expertise in both Executive & Professional and Casualty Lines will fuel our ongoing growth and lasting partnerships with customers and brokers in the region.”

Louise comes to BHSI with nearly two decades of industry experience with a focus on third-party lines. She was most recently Financial Institutions and Commercial Professional Indemnity Underwriting Manager for AIG in Europe. Prior to that she held various positions including Head of Financial Lines Ireland. She holds an honours degree in Financial Services from John

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Take Five: Banks, Bottom Lines, Brexit | Investing News

October 9, 2020
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| business

(Reuters) – 1/BANKING ON RECOVERY

After U.S. Q2 results beat expectations, Q3 will show whether dire forecasts for companies’ bottom lines were justified.

Most sectors will again show steep drops in earnings but it should be less dramatic than the previous quarter; expectations are for an average 21% decline, versus the 31% contraction of Q2, when coronavirus-linked lockdowns decimated economic activity.

Energy companies are seen faring worst, with earnings down 115% from a year ago, according to Refinitiv. Tech earnings are predicted to fall just 0.5% percent.

Banks — Citi and JPMorgan report on Tuesday — may see earnings slip 19% on average but there is hope that after two quarters of hefty provisioning against bad loans, potential loan losses have mostly been covered.

(Graphic: Wall Street braces for lower earnings – https://fingfx.thomsonreuters.com/gfx/mkt/qzjvqnrdxpx/Pasted%20image%201602175244692.png)

Will the Fed do something about the Treasury yield curve?

Bets on a spending boost from any

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What China’s Three Red Lines Mean for Property Firms

October 9, 2020
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| business

The People’s Bank of China and the Ministry of Housing announced in August that they’d drafted new financing rules for real estate companies, but have said little more. But the media reports and people familiar with the upcoming guidelines have said developers wanting to refinance will be assessed against three red lines, or thresholds:

• There will be a 70% ceiling on liabilities to assets, excluding advance proceeds from projects sold on contract;

• a 100% cap on net debt to equity;

• and they must have a cash to short-term borrowing ratio of at least one.

Developers will be categorized based on how many limits they breach and their debt growth will be capped accordingly. If all three are breached, the company won’t be allowed to increase its debt in the following year, according to a report by 21st Century Business Herald. If it passes all three, it can

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Personal Lines Insurtech Root Files IPO Proposal with SEC

October 6, 2020
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| personal

Root, Inc., the parent company of Root Insurance Co., has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been announced. Root said it intends to list its common stock on the Nasdaq Stock Market, under the ticker symbol ROOT.

As of last September, Root had raised a total of $523 million in funding, with an additional $100 million in debt financing. Root said that last round, led by DST Global and Coatue, raised its valuation to $3.65 billion.

Columbus, Ohio-based Root operates through a mobile app that uses smartphone technology, telematics and data science. The insurer has begun selling renters and home insurance in addition to its primary offering, auto insurance.

At the end of 2019, Root reported a net

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China’s ‘three red lines’ strike delicate balance between curbing real estate debt and local government finances

October 6, 2020
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| business

As China moves to tackle excessive borrowing in the real estate sector, it is walking a tightrope between providing cash-strapped local governments with revenues from land sales and keeping a lid on rising house prices.

Chinese regulators in August tightened funding conditions for 12 major property developers, setting caps on the amount of debt they could hold in relation to cash on hand, the value of their assets and as a proportion of equity in their businesses – dubbed “the three red lines”.

Last week, mainland financial newspaper the 21st Century Business Herald reported authorities had asked large banks to keep the proportion of property loans below 30 per cent of all new loans, citing unidentified sources.

Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.

Property sales growth has surged this year, helping the economy recover from the coronavirus pandemic.

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Embedded finance expected to blur fintech lines by 2030

October 2, 2020
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| finance

  • Fintechs expect embedded finance to be a dominant trend by 2030, with big techs leading the charge.
  • This would open partnership and customer acquisition opportunities for fintechs.
  • Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry with the Fintech Briefing. You can learn more about subscribing here.

The fintech industry expects financial services to increasingly be embedded into nonfinancial platforms over the next decade, so much so that fintech will no longer be a distinct sector, per a press release seen by Insider Intelligence.

Fintechs' view on big tech firms offering financial services

Fintechs expect embedded finance to be a dominant trend by 2030.

Business Insider Intelligence


“Embedded finance” is a term for nonfinancial firms directly offering financial products and services to their customers while retaining complete control over the customer experience. The findings are based on the study “Fintech 2030: The Industry View,” by payments provider Tribe Payments, which surveyed 125 fintech executives.

Respondents

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