AXA XL unveils key appointments globally

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Asia and Europe business unit appointments

  • Marie Charbonnier, global programs and captives director, Asia and Europe.
  • Matthew Daubin, chief underwriting officer, marine, Asia and Europe.
  • Yannick Daucourt, chief underwriting officer, specialty, Asia and Europe.
  • Simon Fumagalli, chief underwriting officer, global financial lines, Asia and Europe.
  • Michael Maier, chief underwriting officer, aerospace, Asian and Europe, and underwriting manager, aerospace, Switzerland.
  • Daniel Maurer, chief underwriting officer, casualty, Asia and Europe.
  • Laurent Richème, chief underwriting officer, property, construction and energy, Asia and Europe.
  • Corinne Southarewsky, chief claims officer,
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UnionPay accounts for 45% of global cards spending

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New research shows that spending on payment cards continues to grow strongly, expenditure rose by 13% to reach $35 trillion in 2019.

There were a number of factors driving this impressive growth; in developing countries, government financial inclusion initiatives continue to encourage people to open bank accounts for the first time. In more mature markets, contactless is hastening moves away from use of cash, a trend which COVID-19 has accelerated in 2020, due to health and hygiene concerns.

UnionPay’s share of spending

UnionPay has the largest share of global card expenditure, with 45%. This is largely driven by spending in

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Apple payments business could be next billions dollar revenue stream

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Payments could be Apple’s next multibillion-dollar business according to Krish Sankar a Cowen analyst.

In a research note this week he notes that the three elements of the business, Apple PayApple Card and Apple Cash, have collectively grown more than 100% year over year in recent years, and that with the COVID-19 pandemic, “usage and penetration of it’s digital payments offerings have only accelerated further.”

Sankar also notes that the company has positioned payments as complementary to its hardware business, but that “future scaling of these services globally coupled with increasing depth and sophistication of them could

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Group of seven powerful central banks publish report on CBDC

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A group of seven central banks together with the Bank for International Settlements (BIS) has published a report identifying the foundational principles necessary for any publicly available CBDCs to help central banks meet their public policy objectives.

Group of seven powerful central banks publish report on CBDC

The report, Central bank digital currencies: foundational principles and core features, was compiled by the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, Sveriges Riksbank, the Swiss National Bank and the BIS, and highlights three key principles for a central bank digital

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