IC asked to assess liquidity of pre-need firms

Deputy Speaker and Surigao del Sur 2nd district Rep. Johnny Pimentel says there’s a need for the Insurance Commission (IC) to assess the liquidity of all licensed pre-need corporations. Deputy Speaker and Surigao del Sur 2nd district Rep. Johnny Pimentel (FACEBOOK / MANILA BULLETIN) This, after the House leader learned that at least one pre-need provider has deferred by 75 days the distribution of a previously scheduled benefit...

Lemonade perfect for ‘millenials’ but valuation a concern, Cramer says

Recent Stock Market IPO Lemonade Inc. (NYSE:LMND) has a great story as a company, CNBC's Jim Cramer said in a feature on the company on Mad Money, noting it is "revolutionizing" a stale insurance industry ripe for disruption. The chatbots the co. uses are perfect for the younger generation as "millenials hate talking to a human being"  -- so if the upstart can acquire these clients, it has a...

China Scraps Equity Investment Restrictions for Insurance Funds

By Wu Yujian and Han Wei Decision may unleash trillions of yuan into the economy from an industry with $3.1 trillion of total assets as Beijing moves to fuel pandemic reboundWant to know more on China Scraps Equity Investment Restrictions for Insurance Funds click here go to market news source. Market news summary from Caixin Global market news.Author: By Wu Yujian and Han Wei

US economy improves, but not by much: Fed’s Beige Book

The US economy improved in almost all US regions as stay-at-home measures eased during June and early July, but it's still nowhere near pre-pandemic levels, the Federal Reserve said in its Beige Book report. "Outlooks remained highly uncertain as contacts grappled with how long the COVID-19 pandemic would continue and the magnitude of its economic implications," the report said. While many industries improved from a depressed level, energy...

TFSA Investors: 3 Reasons to Buy Aphria Stock Today

Cannabis firm Aphria’s (TSX:APHA)(NASDAQ:APHA) stock price rallied to close 9% higher on Monday after W. Andrew Carter, a respected equity analyst at Stifel Financial, upgraded the top marijuana stock from a Hold to a Buy and increased his price target. The analyst’s US$5.90 new price target on APHA Stock implied a 26% upside from the company’s previous share price at the time. There could be plenty upside potential...

Amending the Bank Secrecy Act as a key to financial integrity

The integrity of a financial system is a key factor in its financial stability. Finance Secretary Carlos Dominguez 3rd and Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno recently reiterated the need to amend Republic Act (RA) 1405, or the “Bank Secrecy Act.” This comes in the wake of the controversy involving German company Wirecard AG and its missing $2.1-billion funds. An “elaborate” search was conduct to determine...

Swiss insurers oppose immigration changes, Swiss Re head tells paper

Switzerland's insurance industry is against tightening the country's immigration rules, a move that will be put to voters this year, Swiss Re Chief Executive Christian Mumenthaler told Handelszeitung newspaper.Want to know more on Swiss insurers oppose immigration changes, Swiss Re head tells paper click here go to market news source. Market news summary from Reuters Market News.Author:

J.C. Penney Stock soar after announcing 152 store closures and 1,000 job cuts

Stock Market of bankrupt department store retailer J.C. Penney Co. Inc. soared 16.6% in Wednesday trading after it announced a company restructuring that includes 152 store closures and a headcount reduction of 1,000 workers across corporate roles, management and internationally. J.C. Penney filed for bankruptcy protection on May 15, after which Cowen analysts forecast the company would have to shutter 25% of its locations. J.C. Penney has 90,000...

White House Inches Closer To Compromise On Expanded Unemployment Benefits, But It Might Be Too Late

An extra $600 per week in federal unemployment insurance is likely to expire before Congress has a chance to extend it.Want to know more on White House Inches Closer To Compromise On Expanded Unemployment Benefits, But It Might Be Too Late click here go to market news source. Market news summary from Forbes Market News.Author: Sarah Hansen, Forbes Staff
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