ICBC (Insurance Corporation of British Columbia)’s Post

Some ICBC policies require in-person renewal. Discover the reasons and the necessary documents for these exceptions. Keep yourself informed and insured. Stay informed, stay insured. Learn which policies can't be renewed online: https://hubs.li/Q02tFtKt0 🌐💼 #InsureBC #AutoInsurance #ICBCRenewal

"Excited to announce that I have completed the CPBFI (Certificate Programme in Banking Finance and Insurance) #CERTIFICATEOFHRWORKSHOP {STAR} ! This certification has enhanced my expertise in banking, finance, and insurance sectors, preparing me to navigate and excel in these dynamic industries. #ProfessionalGrowth #Banking #Finance #Insurance #CPBFI #bajajfinserv #CERTIFICATEOFHRWORKSHOP #CareerDevelopment"

Fitch has recently published a report addressing the most frequently asked questions around rating interconnectedness between La Banque Postale (LBP), CNP Assurances (CNP) and La Poste (LP), which together form a unique public group. The ratings of the three entities reflect both issuer-specific standalone credit drivers and parent-subsidiaries interdependencies, as well as potential support considerations. CNP’s rating reflect a strong standalone credit quality and, the insurer is an integral part of LBP. LBP’s ratings reflect the group’s consolidated standalone profile including CNP. Our assessment of LBP is driven by an insurance-heavy business profile since 2020, a capitalisation commensurate with risks when considering the benefits from the Danish compromise and despite capital not being fully fungible between LBP and CNP, and higher vulnerability to interest rate and market shocks due to the group's structure and lower diversification than higher rated French peers. Support from the French state is a rating driver for LP, in addition to its standalone credit profile. While not a rating driver of LBP and CNP’s ratings, we believe there is a very high probability of extraordinary state support to LBP, and therefore CNP, if needed. In this report (link below) Fitch answers the following questions: - why are CNP and LBP's ratings aligned? - why are LBP and LP's ratings not aligned? - how does State ownership affect the ratings? - is extraordinary support factored in the ratings? - how would a sovereign rating downgrade affect the ratings? - how does Fitch rate debt instruments across the group? analysis done with insurance expert Manuel Arrive, CFA and public sector expert Ekaterina Kozlova Short comment available here https://lnkd.in/eEJmVEzb Click on the link below to access the full report (subscribers only)

In our latest edition of #PraxInsights, we have provided a comprehensive view of the latest trends in the #financialservices sector from October to December 2023. From banking trends to broking, cards, and insurance updates, here's a 360-degree view of the industry's pulse. Stay ahead of the game with these key takeaways: 📌Banks & NBFCs: Credit growth to the services sector accelerated to 25.4% in Nov’23 from 21.3% in Nov’22, primarily due to higher loans to aviation, professional services, and transport operators 📌Broking & Capital Markets: Net AUM for Mutual funds increased to INR 51T at the end of Dec’23 from INR 48T at the end of Sep’23; direct plans accounted for 45% of the AUM 📌Cards & Payments: UPI transaction volumes saw an increase to 12B transactions (~INR 18T in value) in Dec’23 as compared to 10.6B in Sep’23 (~INR 16T in value) 📌Insurance: Sale of life insurance policies decreased 5% y-o-y to ~2.04M (with LIC having ~68% market share) in Nov’23; the policies covered ~19M lives under group scheme.. Dive deep into sub-vertical key highlights of the quarter. Plus, get the inside scoop on regulatory updates and player updates! – https://lnkd.in/gvZa9dWQ Gain a competitive edge and make informed decisions in an evolving industry. Stay in the know with Praxis Global Alliance!  #SuperiorOutcomes #StayInformed

Exciting news in the Banking & Insurance industry! Mian Zahid Hussain, Chairman of the FPCCI Advisory Board and National Business Group Pakistan, has announced reduced business costs and markups to promote the industry. This initiative is set to have a positive impact on businesses and the overall economy. Stay updated on this development here: [Link to the article](https://lnkd.in/dXPMzuUd) #Banking #Insurance #BusinessNews #PakistanEconomy

For NBFC Professionals & Stakeholders Based on the Scale Based Regulations issued by RBI for NBFCs, NBFCs are required to follow the glide path to adhere to the 90-day NPA Norm. This transition will align the NBFC sector with the banking sector's 90-day NPA recognition norm. Summary for NPA recognition: Gradual Implementation: The shift to the 90-day norm will be phased in over three years, providing NBFCs ample time to adapt: By March 31, 2024: NPAs to be recognized after 150 days overdue By March 31, 2025: NPAs to be recognized after 120 days overdue By March 31, 2026: NPAs to be recognized after 90 days overdue Exceptions: NBFCs already adhering to the 90-day norm will not be impacted. Upcoming Impact? By 31 March 2025, NBFCs will be required to align their NPA recognition as per the 120-day norm instead of the 150-day norm. #RBI #NBFC #NPA #FinancialStability #RegulatoryChanges

Total assets of financial institutions reached RMB461.09 trillion at end-2023 According to preliminary statistics, the total assets of financial institutions reached RMB461.09 trillion at end-2023, increasing 9.9 percent year on year. Specifically, the assets of banking institutions registered RMB417.29 trillion, increasing 10 percent year on year; the assets of securities institutions reached RMB13.84 trillion, up 5.6 percent year on year; the assets of insurance institutions reached RMB29.96 trillion, growing 10.4 percent year on year. The total liabilities of financial institutions reached RMB420.78 trillion, increasing 10.1 percent year on year. Specifically, the liabilities of banking institutions registered RMB383.12 trillion, increasing 10.1 percent year on year; the liabilities of securities institutions reached RMB10.43 trillion, increasing 5.5 percent year on year; the liabilities of insurance institutions reached RMB27.22 trillion, growing 11.4 percent year on year. #PBOC #statistics #assets #NAFR #CSRC

This year’s survey results were included in the 2024 Arcati Yearbook. The IT industry sector was heavily represented in the survey, but the survey also had responses from mainframers working in the Banking, Insurance, and Healthcare sectors, among others. Here's #4 from "Top 10 Things Learned" from the survey. You should check out the whole survey—our full findings will be released on March 4, 2024, at SHARE Association #MainframeSurvey #Insights #TechTrends

Capacity in the marketplace remains plentiful as it continues to drive competition across all lines of business for financial institutions (FIs). Upward rate pressure was expected through 2023 after the bank failures, but premiums have generally remained stable. We expect the current rate environment to continue through the second quarter of 2024 with possible movement in the banking sector. Get more insights from our Insurance Marketplace Realities 2024 Spring Update report. https://ow.ly/HpOO50SjYUF #WTWBroking #Insurance #ASmarterWayToRisk #FinancialInstitutions