China Pacific Life Insurance (HK) obtains Hong Kong licence

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China Pacific Life Insurance (HK) Company has received authorisation from the Hong Kong Insurance Authority to operate long-term insurance business in the special administrative region.

The licence, dated Nov. 18, enables the insurer to play an important role in China Pacific Life Insurance’s strategy for the Greater Bay Area (GBA) strategy, said John Cai, general manager and CEO of CPIC Life. The Hong Kong operation also serves as a springboard for CPIC’s international business, he said.

Cai said that CPIC is pursuing its Big Health Strategy, which integrates health management, insurance products and medical services. It took part

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a parallel payments data revolution to underpin digital payments

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US payments technology is currently lagging behind other regions with lengthy settlement delays, limited mobile money penetration and outdated data management processes.

A parallel payments data revolution to underpin digital payments

Just 10% of US consumers use mobile payments, despite widespread smartphone ownership. Not only are paper checks still in widespread use, but 80% of Americans use credit cards for purchases, which can take up to three days to settle payments or even allow customers access to their own deposits.

By comparison, countries such as the UK shifted to near or real-time payment systems over a decade

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What’s going on across the global ILS sector?

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“This was after a meteoric rise [between] 2011 and 2018, where many people thought this alternative capital space was going to blow the top off the reinsurance space,” said Jeff Mohrenweiser, senior director at Fitch Ratings, who added that he’s not concerned over potential long-term stagnation of the alternative capital market. Rather, he said: “We think there’s opportunity for further growth here.”

Mohrenweiser described the flatness in the marketplace from 2018 to 2021 as a period of “realignment” where investors started to understand that losses do occur. He pointed to the historic natural catastrophe losses in 2017, which saw the

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Payments Cards & Mobile Jobs of the Week December 06

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The FinTech industry has grown exponentially over the last decade and this expansion won’t be slowing down in 2022 either.

While 2020 and 2021 were dominated by the challenges of adapting to the pandemic, 2022 looks set to be a more stable year where companies will fully embrace digital transformation in all its forms.

The top six highest paying jobs in 2022

Here are some of the main trends that we are predicting as well as the top paying jobs to look out for.

We find that this time of year is one of the most popular for companies to

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