Zurich Insurance boosts ambition with new financial targets

Zurich Insurance boosts ambition with new financial targets

ZURICH/LONDON, Nov 16 (Reuters) – Zurich Insurance Group (ZURN.S) has set a new 2023-2025 target of increasing business operating profit after tax return on equity (BOPAT ROE) to more than 20% by 2025, with 8% compounded organic growth per share per year. aims to produce announced on wednesday. Europe’s fifth largest insurer also targets cumulative … Read more

Spain to agree bank mortgage relief measures by weekend

Spain to agree bank mortgage relief measures by weekend

MADRID (Reuters) – The Spanish government expects to reach an agreement with banks by the end of this week on mortgage relief measures to help vulnerable households and middle-class customers cope with the rising cost of borrowing such loans. Yes, the economy minister said. Governments and lenders are preparing a broader array of measures to … Read more

Bank of Ireland raises fixed interest rate on home loans by 0.25%

Bank of Ireland raises fixed interest rate on home loans by 0.25%

DUBLIN, Nov 10 (Reuters) – Bank of Ireland (BIRG.I) Following main rival AIB (AIBG.I) Mortgage rates rose after the European Central Bank began raising interest rates, with the cost of new fixed-rate mortgages increasing by just 0.25% on Thursday. AIBs (AIBG.I)became the first Irish bank to raise fixed interest rates since the ECB began pushing … Read more

Crédit Agricole’s third quarter profit beat expectations for corporate lending growth

Crédit Agricole's third quarter profit beat expectations for corporate lending growth

Paris, November 10 (Reuters) – Credit Agricole SA (CAGR.PA) Joining French and European peers, it was driven primarily by corporate and consumer lending, offsetting the exit of asset manager Amundi and lower trading income. Net income was €1.35 billion ($1.35 billion), down 3.6% from the prior-year quarter, but supported by one-off items such as the … Read more

Zurich Insurance claims $550 million in damages from Hurricane Ian

Zurich Insurance claims $550 million in damages from Hurricane Ian

Zurich, November 10 (Reuters) – Zurich Insurance Group (ZURN.S) expects a net pre-tax hit of $550 million from Hurricane Ian. Europe’s fifth-largest insurer said its new annual premium equivalent (APE) in life insurance fell 6% but rose 2% on an equal basis after adjusting for currency movements, acquisitions and disposals. Zurich’s Swiss Solvency Test (SST) … Read more

Sean Penn lends Oscar to Zelensky until Ukraine wins war

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Kyiv, Ukraine — Actor Sean Penn is making a documentary about the Russian invasion Ukraineloaned one of his two Oscars to Ukrainian President Volodymyr Zelensky and told him: “If you win, take it back to Malibu.” On Wednesday, Zelensky’s office released a video of Penn’s recent visit to Ukraine. The president tweeted that the Oscars … Read more

IMF and Bangladesh Reach Tentative Agreement for $4.5 Billion Loan

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Dhaka, Bangladesh – The International Monetary Fund on Wednesday reached a preliminary agreement with Bangladesh to provide $4.5 billion to help the country weather the turmoil caused by the civil war. Ukraine Manage risks from climate change. The agreement is subject to approval by the IMF Executive Board, which is expected to be approved in … Read more

Sean Penn visits Zelensky in Ukraine, lends Oscar

Sean Penn visits Zelensky in Ukraine, lends Oscar

(Reuters) – Hollywood actor and director Sean Penn, who has been sanctioned by Russia for criticizing the war in Ukraine, met Ukrainian Volodymyr Zelensky during a visit to Kyiv on Tuesday. Lent an Oscar statuette to the president. “It’s just symbolic and ridiculous,” he said, sitting beside the Ukrainian leader at the table at the … Read more

UK to provide loans to countries most vulnerable to climate change

UK to provide loans to countries most vulnerable to climate change

LONDON, Nov 8 (Reuters) – Britain’s Treasury on Thursday released new loans to help countries most vulnerable to the effects of climate change, including options to defer debt repayments in the event of a catastrophe. announced plans to offer The country’s export credit agency, UK Export Finance (UKEF), will provide such loans to low-income countries … Read more

UK homebuilder Persimmon flags slowing demand amid surge in mortgage rates

HDFC, India's largest mortgage lender, reports an 18% increase in profit in the second quarter.

November 8 (Reuters) – Persimmon (PSN.L)It is the second largest homebuilder in the UK. The UK housing market has shown signs of slowing in recent months as rapid inflation hit consumer budgets and the Bank of England raised interest rates. Moreover, the government’s mini-budget in September led to a surge in mortgage rates. “Rising interest … Read more