Page 7 - Clins News Today

Canadian banks and insurers can resume dividend increases and share buybacks and raise executive compensation, the country's financial regulator said on Thursday, lifting a moratorium it imposed in March 2020 and possibly paving the way for a boost to the sector's valuation.

French insurer Axa announced the launch of a share buyback programme for up to 1.7 billion euros ($2 billion) on Thursday and said it was planning another next year.

U.S. insurer MetLife Inc blew past Wall Street estimates for third-quarter profit on Wednesday, as strong investment gains helped cushion a hit from coronavirus-related claims.

BlackRock Inc told Reuters it has raised a target-beating $673 million for an infrastructure fund with backing from the French, German and Japanese governments to invest in climate-focused projects such as renewable energy in emerging markets.

There should be more women at the top of multilateral organisations to help alleviate the financial impact of climate change, Amanda Blanc, chief executive of British insurer Aviva and chair of a climate action group, said.

Barclays Chief Executive Jes Staley is leaving the bank after a dispute with British financial regulators over how he described his ties with convicted sex offender Jeffrey Epstein.

More than 100 global leaders late on Monday pledged to halt and reverse deforestation and land degradation by the end of the decade, underpinned by $19 billion in public and private funds to invest in protecting and restoring forests.

AXA , France's biggest insurer, said on Friday it would tighten its policy regarding investing in and insuring the oil and gas sector, as pressure builds on finance to help curtail new production.

Japanese insurers are growing increasingly reluctant to buy foreign government bonds without a currency hedge, as they are not expecting the recent dollar rally against the yen to continue for much longer.

Warren Buffett's Berkshire Hathaway has tendered its stake in Cattolica under a takeover offer by Assicurazioni Generali , a source close to the situation said on Friday.