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Reinsurer acquired by AIG plans foray into Canadian market

Reinsurer acquired by AIG plans foray into Canadian market

A recent acquisition of American International Group Inc. is now aiming to sell insurance to insurers in Canada.Bermuda-based Validus Reinsurance Ltd., whose parent company was bought by AIG for US$5.56 billion last year, is eyeing a Canadian branch, according to notices given in the Canada Gazette.New York-based AIG already operates in Canada through a subsidiary,…


Why investors think ASX fintech stock Credible is undervalued

Why investors think ASX fintech stock Credible is undervalued

Local venture capital fund Carthona Capital owns 2.24 per cent of the stock and partner Dean Dorrell said the 81¢ it was trading at last week was ridiculously low. It closed last week up at 94¢.”In the Australian context, we see valuations for businesses just starting out or doing small amounts of volumes at elevated…


Labor wants new bank levy to boost compensation scheme

Labor wants new bank levy to boost compensation scheme

The retreat, as revealed by The Australian Financial Review, is a reversal of Labor’s initial position which was to support the recommendation that the borrower, not the lender, pay. Labor will back the current arrangement in which the lender pays.Treasurer Josh Frydenberg said Labor had been humiliated.”It doesn’t matter what Labor say they will do…



Simple solution for the mortgage broker commission problem: Choice

Simple solution for the mortgage broker commission problem: Choice

McAlary is familiar with the US mortgage market because he is in the process of establishing a wealth management business there.His knowledge of the Australian financial services market comes from several decades providing advice and consulting services. His company has an Australian credit licence and an Australian Financial Services Licence.Until now there has been little…


Banking royal commission: what it means for you

Banking royal commission: what it means for you

Your financial planning”The commission is probably the best thing ever that has happened to Australian financial services for the benefit of the public,” says Daniel Brammall, co-director of Brocktons Independent Advisory and president of the Independent Financial Advisers Association of Australia.”This is the value of independence – you don’t expect a royal commission to be…


Aitken Investment Management’s high conviction fund loses 23.8pc in 2018

Aitken Investment Management’s high conviction fund loses 23.8pc in 2018

“The potential to make money there this year is quite strong,” he added, emboldened by the Chinese stimulus tapped this week and light investor positioning. The manager is more optimistic about returns this year, anticipating that US stocks will face a reckoning.Last year was a challenge for hedge fund managers, according to global performance surveys,…


Share market opportunities for active investors

Share market opportunities for active investors

The Australian stock market’s 1.5 per cent fall in total returns (which includes dividend payments) compared with a 11 per cent fall for the MSCI All-Country World Index, its biggest annual drop since the 2008 financial crisis.Relative strengthAustralia outperformed a string of other developed markets including Hong Kong, UK, Canada, Japan and Switzerland.Centennial Asset Management…