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Four Canadian Banks Quit Climate Group as Exodus Begun by Wall Street Picks Up

Insurance Journal

Four of Canada’s biggest banks are leaving the industry’s top climate-finance alliance, joining Wall Street peers and extending an exodus that started in early December. Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Bank of Montreal and National Bank of Canada …

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UK Bankers Criticized for Lack of Risk Appetite in Green Finance

Insurance Journal

A senior executive at the UK’s National Wealth Fund has criticized the country’s banks and money managers for what he characterized as their failure to embrace the risk levels needed to drive the low-carbon transition. “What I’m not seeing is …

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Lenders Get Reprieve in UK Motor Finance Case From Top Court

Insurance Journal

A group of lenders won a major reprieve in a pivotal UK car finance case, after the country’s top judges agreed to rein in a lower court’s ruling that could have cost the banks billions more in consumer payouts. The …

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Italy to Tap Banks, Insurers for €3.5 Billion in Budget Plan

Insurance Journal

Prime Minister Giorgia Meloni’s cabinet is tapping Italy’s banks and insurers to help finance its budget, according to a new plan designed to deliver on giveaways pledged to voters. “As we promised, there will be no new taxes for citizens,” …

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Polish Insurer PZU Eyes Seed Funding Role for Big Polish Projects

Insurance Journal

Polish insurer PZU SA envisages playing a key role in attracting financing for the country’s big-ticket energy and infrastructure projects after it completes a merger with Bank Pekao SA. Chief Executive Officer Andrzej Klesyk said he wants to channel some …

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People Moves: US Premium Finance Hires Malone From AFCO Direct

Insurance Journal

US Premium Finance, a division of Atlanta-based Ameris Bank, named Alan Malone director of sales and marketing. Malone has more than 30 years of experience in insurance premium finance. He was previously senior vice president and regional sales manager at …

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Treasury Warns That Anti-Woke Banking Laws Like Florida’s Are Security Risk

Insurance Journal

WASHINGTON (AP) — The Treasury Department is warning that state laws that restrict banks from considering environmental, social and governance factors could harm efforts to address money laundering and terrorism financing. The Associated Press obtained a copy of the letter …