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MetLife acquires Barbridge Investment, with a transaction value of up to 1.2 billion USD.
USA insurance company MetLife announced on Monday that it has agreed to acquire the global asset management firm PineBridge Investments from The Pacific Century Group for a price of up to 1.2 billion USD. Reportedly, this transaction price includes 0.8 billion USD in upfront cash, 0.2 billion USD in deferred payments contingent on specific financial goals being met by 2025, and 0.2 billion USD in milestone payments linked to multi-year earnings structures. Acquiring PineBridge will also allow MetLife to grow.
Boeing has confirmed that all aircraft programs, including the 737 MAX, have resumed production.
Boeing has announced that it has resumed production of all aircraft programs that were previously paused due to the strike by mechanics in the USA's Pacific Northwest. The company confirmed that production of the popular 737 MAX jet has resumed at the beginning of December, following the end of the seven-week strike involving 0.033 million factory workers. In Everett, Washington, the production of wide-body aircraft, including the 767 and 777/777X models, has also resumed. Stephanie Pope, CEO of Boeing Commercial Airplanes, announced the resumption of production on Social Media.
CEB BANK plans to approve a comprehensive credit limit of 3 billion yuan for Taibao Life Insurance.
CEB BANK (06818) announced that the company plans to grant a credit quota of 3 billion yuan to CHINA TAIPING Life Insurance Co., Ltd. (referred to as Tai Ping Life Insurance), with a term of 1 year, through a credit facility.
Market Chatter: Chinese Brokerages Shuttering Branches to Remain Competitive
December 13 Insurance Daily | Personal Retirement accounts are rolled out nationwide, presenting a historic policy opportunity for the insurance industry! Over 40 insurance companies have reshuffled their equity this year.
The personal Retirement system will be fully implemented nationwide. The Insurance and other markets are expected to face a historic policy opportunity period. On December 12, the Ministry of Human Resources and Social Security, Ministry of Finance, State Taxation Administration, Financial Regulatory Bureau, and China Securities Regulatory Commission issued a notification on the comprehensive implementation of the personal Retirement system. Starting from December 15, 2024, all laborers participating in the urban employee basic Retirement Insurance or the rural residents' basic Retirement Insurance in China will be able to join the personal Retirement system. Ning Wei, Vice President and Secretary-General of the China Insurance Research Institute at Peking University, stated that this notification along with the 2022 "Implementation Measures for Personal Retirement".
The fire in the coastal city of Malibu, California, is spreading rapidly, and over ten thousand residents have been evacuated.
In the early hours of Tuesday, a fire in Malibu, California, doubled in size within an hour, rapidly destroying homes. The local government issued evacuation orders, and schools were suspended. The California Department of Forestry and Fire Protection reported that the Franklin fire in Los Angeles County went out of control on Monday evening, burning an area of 2,200 acres. All schools in Malibu are closed, awaiting further notification. Pepperdine University has suspended classes. As of Tuesday morning, about 18,000 residents received evacuation orders or warnings. A stretch of the Pacific Coast Highway from Pacific Palisades to central Malibu has been closed.
Pacific Securities (SHSE:601099) Shareholders Have Earned a 46% Return Over the Last Year
