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Financial Trends
1. Allianz Insurance : Network risk ranks first in the financial industry risk ranking
Keywords: Financial risk
Recently, in response to global financial industry risks, Allianz Insurance released the "2021 Allianz Risk Barometer" to the world. The primary risk ranking in the financial industry risk ranking is Network risk . The
report lists the most important risk trends in major financial industry enterprises, including banks, asset management companies, private equity funds, insurance companies and other financial services industries. Among them, the three major risks of network events, COVID-19 epidemic outbreak and business interruption rank in the top three; followed by changes in laws and regulatory regulations - especially environmental and social governance and climate change; and in terms of macroeconomic development, including credit risk rising, and the continued low interest rate environment, etc. rank fifth.
Conclusion shows that despite financial companies investing a lot of money in cybersecurity, financial companies still face widespread cyber threats, especially the potential vulnerability of the financial industry due to its reliance on third-party service providers.
Wealth Technology
1. Canadian asset management platform Wealthsimple received CAD 750 million CAD financing
Keywords: Online asset management
Last week, Canadian Fintech service startup Wealthsimple announced that it had received CAD 750 million CAD financing, with the platform's valuation exceeding CAD 5 billion CAD.
Wealthsimple was founded in 2014 and is headquartered in Toronto . It mainly provides online asset management service to millennial young investors. The outbreak of the new crown epidemic has driven the growth of Wealthsimple platform business. At present, the total number of Wealthsimple users has exceeded 2 million, covering the United States, Canada and the United Kingdom, with asset management exceeding US$10 billion.
Insurance technology
1. The largest independent insurance technology platform in China, , Water Drop Company, , officially landed on the New York Stock Exchange
Keywords: Insurance technology listing
On the evening of May 7, Water Drop Company successfully landed on the NYSE IPO, becoming China's "first stock in insurance technology" on the NYSE . As an Internet insurance technology platform, Shuidibao cooperates with 62 insurance companies to use technology to promote universal insurance. As an insurance platform focusing on Internet health insurance, with its strong online service capabilities and big data insight and analysis capabilities, Shuidi achieves efficient operational efficiency, providing users in the sinking market with cost-effective insurance products and insurance services throughout the process from underwriting to claims settlement.
Judging from the premium scale of health insurance and life insurance in 2020, Shuidi is China's largest independent third-party insurance platform, achieving first-year premium of more than 14.4 billion yuan in 2020. As of December 31, 2020, a total of 79.4 million insurance users were served.
Shuidie Company’s goal is to build an “insurance + health services” ecosystem, and to provide consumers with a wider range of medical and health service options by further expanding user coverage and participation, investing in data analysis and technical infrastructure.
2. Risk Strategies cooperated with CyberCube to launch the network risk analysis platform
Keywords: Risk analysis
Insurance brokerage and risk management company Risk Strategies cooperated with CyberCube to launch Broking Manager, a network risk analysis platform for insurance intermediaries. In addition, Risk Strategies will utilize the Application Programming Interface (API) in the CyberCube solution for analysis.
Broking Manager is known as the first SaaS application developed by CyberCube for insurance brokers. This application provides a simplified method that can market financial risks . With this feature, customers will be able to make informed decisions about coverage and limits.
Broking Manager will enable the Risk Strategies team to quantify and inform their clients of the source and financial impact of cyber risks. In addition, the platform can generate reports, which will help test customers for potential sources of losses, recent and important cyber incidents.
Financial Trends
1. China Wealth Management 50 Forum released the Asset Management Industry Outlook
Keywords: Asset Management Outlook
According to the Shanghai Securities News, China Wealth Management 50 Forum (CWM50) recently released the "Review and Outlook for the Third Anniversary of the "New Asset Management Regulations"" saying that the asset management industry will develop in the direction of "one set of regulatory systems, two types of product forms, three major business nodes, and multiple investment strategies".
First, all types of asset management businesses are gradually implemented to achieve unified supervision. Second, the products issued by asset management institutions will be clearly divided into two categories: public offering products and private offering products. Third, the three major business links of the asset management industry chain are sales, investment consulting and investment management. Fourth, although various asset management institutions are in accord with licenses, they can be rich and diverse in underlying strategies to achieve refined division of labor. The report
stated that in the three years since the implementation of the new asset management regulations, on the one hand, the regulatory system has been continuously improved, and the chaos in several industries in the early stage has been fundamentally curbed, laying the foundation for the phased results of preventing and resolving major financial risks; on the other hand, the development of the asset management industry has first broken down and then established, gradually moving towards a new stage, presenting the "three new" transformation characteristics of new models, new products and new patterns.
2. In 2020, the scale of insurance asset management reached 21 trillion yuan: bonds, financial products , and bank deposits account for more than 70%
Keywords: asset management scale
Recently, China Insurance Asset Management Industry Association announced the comprehensive survey data of the insurance asset management industry from 2020 to 2021. Data shows that as of the end of 2020, the total asset management scale of 35 institutions was 21 trillion yuan, an increase of 19% year-on-year, the highest growth rate in the past five years.
In 2020, the overall asset allocation of the insurance industry will be mainly fixed income assets. Among the various asset categories allocated by the industry, bonds, financial products and bank deposits (including certificates of deposit) are among the top three, with a total of more than 15 trillion yuan, accounting for more than 70%. Among them, bonds account for 38%, financial products account for 18%, bank deposits account for 13%, and certificates of deposit account for 2%. It is worth noting that the scale of investment real estate assets in 2020 decreased by 38% year-on-year, making it the only asset type among the eight major investment assets with a decline in scale growth rate.
