China’s tightening grip on fintech firms and an antitrust crackdown complicate Ping An’s bid to lift its valuation closer to those garnered by tech giants like Alibaba Group Holding Ltd. and Tencent Holdings Ltd. The Shenzhen-based finance firm, which gets three-quarters of its revenue from insurance, trades at about 10 times 2019 earnings; Alibaba’s ratio is six times higher.

Ping An has pledged to plow more than $22 billion into research from big data to blockchain to make it more “tech” than “fin,” while carving out some of its units through public listings to maximize value.

Insurer Inigo raises $800 million from investors including QIA, CDPQ

Nov 23, 2020

In a statement, Inigo said that current conditions are ideal to launch a new insurance business, at a time when demand across a number of classes of insurance and reinsurance is high.

Inigo has chosen London as its principal base since it regards the overall insurance ecosystem offered by Lloyd’s as exceptionally attractive and believes it will best support the growth and development of the new syndicate.

UK FM says he hopes for a Brexit deal but not at any price

Nov 23, 2020

“If we don’t get a deal, why is that? It is because they are refusing to compromise on what are some completely reasonable and very transparent principles that we’ve laid out from the beginning. We are not asking for … super-special treatment.”

G20 leaders call for ‘affordable, equitable’ access to Covid-19 vaccine

Nov 22, 2020

“We need to avoid at all costs a scenario of a two-speed world where only the richer can protect themselves against the virus and restart normal lives,” French President Emmanuel Macron told the summit.

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