Financial
Walmart to raise wages for some workers after earnings miss
Walmart announced it would raise wages for 425,000 U.S. employees, which amounts to over 25% of its workforce. The big-box retailer will boost their wages to at least $13 an hour, bringing its average hourly wage to over $15 an hour. Q4 2020 hedge fund letters, conferences and more Walmart announces plans to raise wages […]
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Read MoreUniversal takes almost $100m Q4 hit from catastrophes & loss creep
Universal Insurance Holdings, the Florida headquartered, nationally expansive primary insurance carrier, announced last night that it has taken a nearly $100 million hit from catastrophe losses and loss creep from prior year events during the fourth-quarter of 2020. Universal said that “unprecedented” storm activity drove an total net impact of approximately $76 million, pre-tax (approximately…
Read More“Dreams All The Way Up”
Meme via “Not Boring” by Packy McCormick. Q4 2020 hedge fund letters, conferences and more A Novel Way To Value Tech Stocks “Dreams all the way up” was the title of an interesting post by business strategist Packy McCormick earlier this week. It caught our eye for two reasons. First, because it offered a novel metric to […]
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Read MoreZaffino highlights critical evolution of AIG reinsurance program at 1/1
American International Group’s (AIG) reinsurance program has undergone a critical evolution over the last year with a range of changes now made at the January 1st 2021 renewals to reflect the underlying changes to the insurers portfolio, incoming CEO Peter Zaffino has explained. Zaffino was speaking during the AIG fourth-quarter earnings call this week, the…
Read MoreAs Bitcoin Trading Breaks Records – Demand for Digital Asset Trading Solutions Rises
As Bitcoin value jumps to over $50,000—demand for regulated digital asset trading solutions becomes more prevalent, as witnessed by HFinance—new solution taking the EU by storm. Q4 2020 hedge fund letters, conferences and more February 18, 2021. The recent cryptocurrency value jump to over $50,000, driven by institutional demand, where Tesla’s $1.5 billion investment in […]
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Read MoreBuffett Indicator at All-Time Highs: A Cause for Concern?
In 2001, Warren Buffett famously described the stock market capitalization-to-GDP ratio as “the best single measure of where valuations stand at any given moment.” Q4 2020 hedge fund letters, conferences and more This ratio, now commonly known as the Buffett Indicator, compares the size of the stock market to that of the economy. A high […]
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Read MoreFEMA’s new flood cat bond to settle at upsized $575m, prices down
The U.S. Federal Emergency Management Agency (FEMA) will be delighted with the outcome of its latest visit to the catastrophe bond market, as its FloodSmart Re Ltd. (Series 2021-1) issuance will now secure the upsized target of $557 million of reinsurance protection, while pricing has been fixed at the bottom of an already reduced range.…
Read MoreCat bonds: Structurally diversifying & primed for growth, says Neuberger Berman
Catastrophe bonds and insurance-linked securities are one of the “very few genuinely, structurally diversifying asset classes,” according to the Neuberger Berman Insurance-Linked Strategies team, who give the asset class a positive outlook for 2021. Writing in a white paper, the Insurance-Linked Strategies team of global asset manager Neuberger Berman explain that they also believe catastrophe…
Read MoreHymans Robertson appoints Mistry for Non-Traditional pension risk transfer
Hymans Robertson LLP, the pensions and financial services consultants, is anticipating more non-traditional risk transfer for pensions, including through the use of capital backed solutions and alternative insurance products. As a result, the company has promoted Kieran Mistry to the newly created position of Head of Non-Traditional Risk Transfer. In this role, Mistry will lead…
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