Avo secures HK$260 million investment

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Avo Insurance Company, the first firm to receive a virtual general licence in Hong Kong, has received a capital injection of HK$260 million (SG$45.1 million) in its latest funding round.

The investment will be used to accelerate Avo’s product development and enhance its insurtech capabilities as it aims to be a key player in the Hong Kong insurance market. The sum also demonstrates shareholders’ recognition of the company’s achievements since its inception in 2019, Avo said.

“We’re thankful for this round of injection. It’s not only a sign of trust, but also will bolster our efforts in product development and

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Cunningham Lindsey Indonesia to rebrand under Sedgwick

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The move is part of a global series of rebrandings to the Sedgwick name, following Sedgwick’s acquisition of Cunningham Lindsey and its subsidiaries in 2018. It also marks the final step in the integration of Sedgwick’s operations in Indonesia. Sedgwick Adjusters Indonesia’s local staff will receive the support of Sedgwick’s global expertise, networks and reach, the company said.

The rebranding aligns with Sedgwick’s expansion efforts in Indonesia across the wider Southeast Asia market as it seeks to become a regional industry and market leader. It follows several senior leadership changes announced in December 2020.

“The benefits of this rebrand continue

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Canadian consumer payments make full recovery in 2021

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The number of consumer payments in Canada is expected to increase by 770 million transactions in 2021 after falling by 1.68 billion in 2020, according to the recently released Canadian Payments Forecast, 2021.

Canadian consumer payments make full recovery

The projected uptake in consumer payment transactions is a direct consequence of the increase in economic activity after the stringent measures taken to contain COVID-19 in 2020.

“The reopening of the economy on the back of an aggressive vaccination campaign, coupled with significant pent-up demand for a wide range of goods and services that were not accessible during the height of

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Is there a problem in the e-money institution market?

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There are now some 479 e-money institutions (EMIs) across the European Union and a further 235 in the UK.

Is there a problem in the e-money institution market?

EMIs store cash for their customers in a digital format for use in payments instrument which can be considered as a digital form of cash.

While EMIs are authorised to issue e-money, they do not have to comply with capital requirements, participate in deposit guarantee schemes and are also not required to implement strict KYC/AML requirements – all strictures which apply to banks.

With more than one in ten e-money institutions now

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