Revealed: Pay numbers for Beazley’s new and old CEOs

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Former chief underwriting officer Adrian Cox is now the man in charge at Beazley Plc, having assumed the chief executive post on April 01, and the specialist insurer has disclosed how much it is paying the new boss.

“Adrian’s base salary on appointment is set at £507,500, in line with Andrew Horton’s current salary,” said the UK-headquartered insurance group in a London Stock Exchange filing. “His pension benefit is unchanged at 12.5% of salary, in line with the pension opportunity available to the workforce.

“His maximum bonus opportunity for 2021 is unchanged at 400% of salary. Adrian’s maximum LTIP (long-term

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Malaysia vehicle thefts down 37%

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“According to statistics from Insurance Services Malaysia, 3,993 motorcycles, 2,981 private cars and 426 commercial vehicles were stolen last year,” said VTREC coordinator Mas Tina Abdul Hamid, who spoke at the soft launch of the Vehicle Theft Public Awareness Campaign on Monday.

According to Mas Tina, the Malaysian-made Proton Wira was the most-stolen car in 2020, with 353 incidents. The Proton Iswara was next at 273, followed by the Toyota Hilux with 209. Most of the top 10 most stolen cars were from local automakers Proton and Perodua.

Formed in 2007, VTREC is a non-profit organisation composed by stakeholders in

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Central Bank issued digital euro

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The possibility of a digital euro is setting high expectations. But it is also raising questions. At the ECB we take people’s concerns seriously, and are thus committed to clearing up any misunderstandings.

What is the potential impact of a digital euro

There are currently three misconceptions about the digital euro. First, that the ECB intends to abolish cash and then, having done so, impose even lower interest rates on it for reasons related to how monetary policy is implemented.

Second, that a digital euro would displace banking intermediation. And third, that the digital euro would not be based on

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One third of FinTechs faced regulatory intervention due to partner bank

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A new report that reveals 33% of FinTechs have faced regulatory intervention due to agency banking resiliency failures.

The report How well are FinTechs served by banks? The state of agency banking across the UK and Europe explores how well served European FinTechs are by their banking partners.

The report reveals FinTechs, particularly larger FinTechs with more sophisticated needs, are underserved by their current banking partners.

The scale of these issues, including severe outages and operational failings, are not only detrimental to the success of the FinTech industry but the financial services sector as a whole.

Agency banking is when

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