Tag: Financial Services
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Standard Insurance S.C. Set to Become Ethiopia’s 19th Insurance Provider
Overview: A New Player in Ethiopia’s Insurance Landscape Standard Insurance S.C. is preparing to enter the Ethiopian insurance market in the coming days, positioning itself as the country’s 19th insurance company. This expansion is notable in a market that has long been characterized by relatively low insurance penetration compared with regional peers. For Ethiopian citizens…
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Standard Insurance S.C Enters Ethiopia as 19th Insurer
Overview: A New Player in Ethiopia’s Insurance Landscape Standard Insurance S.C. is preparing to enter the Ethiopian insurance market in the coming days, asserting its position as the country’s 19th licensed insurer. This move comes as Ethiopia seeks to diversify its financial services sector and expand risk management options for individuals and businesses alike. With…
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Bank Data Breach: FBI Probes Vendor Hack at SitusAMC
Overview: A Major Vendor, A Widespread Breach A sweeping data breach involving a third-party vendor has put the spotlight on the fragile links in the banking industry’s security chain. The incident, which surfaced over a weekend, centers on SitusAMC, a vendor whose software and services are used by hundreds of banks and financial institutions. The…
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A Swath of Bank Customer Data Was Hacked. The FBI Is Investigating
Overview: A Major Breach Tied to a Vendor A sweeping data breach has put a spotlight on the security practices of vendors that support the banking sector. The FBI has confirmed an active investigation into the incident, which centers on a compromise at a third-party service provider used by hundreds of banks and financial institutions.…
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Mahindra & Mahindra and Manulife Join Forces to Create 50:50 Life Insurance Venture in India
Strategic step into Indian life insurance In a move poised to reshape India’s life insurance landscape, Mahindra & Mahindra Ltd. (M&M) announced that its board has approved a joint venture with Canada’s Manulife Financial Corporation. The 50:50 partnership aims to carry on the life insurance business in India, combining M&M’s deep distribution network with Manulife’s…
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Mahindra & Mahindra and Manulife Forge 50:50 Life Insurance JV in India
New Era for Indian Life Insurance: A 50:50 JV In a strategic push to expand its financial services footprint, Mahindra & Mahindra Ltd. (M&M) announced that its board approved a joint venture with Canada’s Manulife Financial Corporation to operate life insurance business in India. The 50:50 partnership signals a significant shift in the country’s life…
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Top-Performing Sectors in Nairobi County: Services Lead the Way in Growth
Overview: Nairobi’s Service-Driven Economy Nairobi County has long stood as Kenya’s economic powerhouse, with a landscape dominated by the service sector. Recent insights from the County Competitiveness Index (CCI) reveal that services, particularly Financial and Insurance activities, account for a substantial share of the county’s top-performing sectors, underscoring the central role of the service economy…
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Nairobi County’s Top-Performing Sectors: A Service-Driven Economy on the Rise
Overview: Nairobi County’s service-led economy Nairobi County’s economy is increasingly defined by the service sector, a pattern that reflects Kigali-like urbanization dynamics in Africa’s largest financial hub. Recent analysis from the County Competitiveness Index (CCI) highlights that services dominate the business landscape, underscoring how demand from households, firms, and the public sector shapes growth trajectories.…
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Westpac CEO Pay Sparks Debate: Over $4 Million, Transparency, and the Kiwi Wage Gap
Overview: A High-Profile Pay Package in the Banking Sector The latest Westpac annual report has spotlighted a dramatic increase in chief executive officer pay, with the top executive earning more than $4 million. The figure represents a substantial rise from the previous year and has sparked broader conversation about executive compensation, transparency, and the gap…
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Westpac CEO pay hits $4 million: transparency meets scrutiny
Executive pay sparks renewed debate in New Zealand banking The latest annual report from Westpac reveals that the bank’s chief executive officer earned more than $4 million in the reporting year, a figure that nearly doubles the amount from the previous year and sits at about 55 times the average Kiwi wage. The disclosure has…