Day: January 20, 2021

AXIS Capital shares catastrophe claims estimate for Q4

spike 1 month ago

AXIS Capital Holdings – ahead of the insurance group’s release of its fourth quarter results on January 28 – has issued a preliminary Q4 net claims estimate for catastrophes and weather-related events.

According to the Bermuda-headquartered firm, its net claims estimate for the quarter stands between US$195 million and US$205 million before tax. The range approximation includes US$125 million for COVID-19.

Lifting the lid on the coronavirus allotment, AXIS Capital explained: “This amount was determined following an extensive review of potential exposures to the COVID-19 pandemic on all lines of business, both short and long-tail, which considered new information provided

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Manulife Hong Kong boosts distribution capabilities with senior appointments

spike 1 month ago

Manulife Hong Kong has appointed Ivan Chan (pictured left) as chief agency officer (CAO) and Tracy Leung (pictured right) as chief partnership distribution officer (CPDO). Both will report to Damien Green, Manulife Hong Kong and Macau CEO.

According to a statement from the company, both appointments came as part of its thrust to build up its leadership and further expand its distribution capabilities.

Chan, who joined Manulife in 1999, heads its growing agency force in Hong Kong and Macau and is tasked with driving agency sales and headcount. He was most recently the company’s CPDO. Chan succeeded Kareen Chow, who

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Bitpanda launches debit card that combines all assets into one card

spike 1 month ago

Bitpanda is now taking pre-orders for their first physical product – the Bitpanda Card, facilitated by Visa.

Bitpanda launches debit card that combines all assets into one card in real time

The card is linked to any asset in a user’s Bitpanda portfolio, allowing the user to switch the linked asset at any time via the Bitpanda App and enables them to use digital assets such as Bitcoin or other cryptocurrency holdings to shop online and in stores worldwide.

Transactions are processed immediately, and users get a real-time push notification every time the card is used. Along with this,

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Capital One fined $390 million for anti-money laundering failures

spike 1 month ago

Capital One has picked up a $390 million penalty from the Financial Crimes Enforcement Network (FinCEN) for engaging in both “wilful and negligent violations of the Bank Secrecy Act (BSA) and its implementing regulations.”

Capital One fined $390 million for anti-money laundering failures

Capital One admitted that it had deliberately failed to implement and maintain an effective anti-money laundering program, with it also not reporting thousands of suspicious currency transactions.

The violations are believed to have occurred from at least 2008 through 2014, and relate to Capital One’s Check Cashing Group.

Capital One also acknowledged that it failed to report

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