Business & Finance

Prudential shares tumble amid demerger delay

spike 9 hours ago

Prudential’s announcement that its demerger of its US business Jackson will be delayed to the second half of 2021 has caused its share price to dip 5%.

According to a report by Reuters, the demerger was expected to take place this month, following Prudential’s previous announcement that it would occur in the second quarter. Activist investor Third Point is one of the major drivers of the demerger though constant pressure.

Prudential said that while the transaction has received approvals from Michigan and New York regulators, it is still continuously engaging with regulators, awaiting Jackson’s first-quarter financial performance.

“The US demerger

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Starr & Co. joins call for US to lead global vaccination effort

spike 13 hours ago

“The US must act now to leverage rapidly increasing US domestic vaccine production, export ever-larger volumes of our surplus supplies, and go to work on the massive technical and logistical challenges to vaccine development on a global scale,” the letter said.

The group also expressed opposition to the intellectual property waiver being promoted by the World Trade Organization, saying the move “would make little difference and could do harm” by not considering the steps necessary for safely manufacturing the vaccines.

The letter, initiated by C.V. Starr & Co. chairman and chief executive officer Maurice R. Greenberg, noted that the world

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Insurance firm joins call for US to lead global vaccination effort

spike 14 hours ago

“The US must act now to leverage rapidly increasing US domestic vaccine production, export ever-larger volumes of our surplus supplies, and go to work on the massive technical and logistical challenges to vaccine development on a global scale,” the letter said.

The group also expressed opposition to the intellectual property waiver being promoted by the World Trade Organization, saying the move “would make little difference and could do harm” by not considering the steps necessary for safely manufacturing the vaccines.

The letter, initiated by C.V. Starr & Co. chairman and chief executive officer Maurice R. Greenberg, noted that the world

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Beazley reveals resilient start to the year with Q1 results

spike 14 hours ago

The global insurer Beazley plc has become the latest insurance company to step up to the plate and highlight its trading results for Q1 2021, ended 31 March, 2021. Overall, it was a positive start to the year for the company with gross written premiums (GWP) increasing by 16% to US$971 million (around SG$1.297 billion) from Q1 2020’s US$840 million. The insurer also reported that its premium rates on renewal business increased by 16%, ahead of its expectations.

The business saw an investment return of US$27 million, compared to Q1 2021’s loss of US$55 million and noted its capital surplus

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