Munich Re posts Q3 2021 numbers

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Source

Q3 2021 profit

Q3 2020 profit

Q1-3 2021 profit

Q1-3 2020 profit

Reinsurance

€232 million

€63 million

€1.59 billion

€619 million

ERGO

€134 million

€136 million

€467 million

€381 million

Consolidated

€366 million

€199 million

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Manulife Hong Kong sees higher sales and profits

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Manulife Hong Kong has announced its results for the third quarter and first nine months of 2021, with growth in profits, sales and new business value.

The insurer revealed core earnings of HK$5.3 billion in the first nine months of 2021, up 16% from the same period of 2020. For the third quarter, it was HK$1.9 billion, up 16% from a year ago.

Annualized premium equivalent (APE) sales were at HK$4.9 billion for the first nine months, growing 10% year over year, and HK$1.7 billion in the third quarter, up 12% from the previous year.

New business value (NBV) grew

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Banks could increase annual revenues by nearly 4%

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By embracing digital transformation, rethinking their business models and following the innovative strategies of digital-only banking and financial services new entrants, traditional banks could boost revenues by nearly 4% annually.

This would result in more than half a trillion dollars in additional revenues by 2025, according to a new report from Accenture.

The report, “The Future of Banking: It’s time for a change of perspective,” analyses the business models of nearly 100 leading traditional banks and over 200 digital-only players in 11 countries across North America, Europe, Asia-Pacific, and Latin America and the role they play in the

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Blockchain to facilitate $10 billion savings in cross-border payments

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Following on from yesterdays article on mCBDC and cross-border payments, a second study, looking at the same problem from a different angle, has found deployment of blockchain for cross-border settlement will drive increasingly significant cost savings for banks; rising from $301 million in 2021 to $10 billion in 2030.

$10 billion savings in cross-border payments

Blockchain implementation in cross-border settlement will enable stakeholders to leverage improved payment transparency and traceability; a critical advantage in an omnichannel payments market.

The report found large trading nations, such as the US and China, will see the biggest cost savings from blockchain use, aided

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