Banking & Financial Services News on Business Daily

Joel Carnes has been named leader of Nationwide Pet, effective immediately. Carnes will report to Juan Jose (JJ) Perez, leader of Nationwide’s Corporate Solutions business. His leadership, entrepreneurial mindset, operational experience, and knowledge of the pet insurance industry qualify him to lead this business line as Nationwide aims to serve more pet families with valuable offerings and services.

Ted Pick, Chief Executive Officer of Morgan Stanley, will speak at the Morgan Stanley Annual U.S. Financials, Payments & Commercial Real Estate Conference on June 10, 2024, at 12:00 p.m. (ET).

Tokyo, Japan – May 21, 2024 – Global investment firm Carlyle (NASDAQ: CG) announced the final close of its fifth Japanese buyout fund, Carlyle Japan Partners V (“CJP V”). The fund raised JPY 430 billion (approximately USD 2.8 billion), inclusive of commitments from the General Partner and its affiliates, hitting the hard cap on Limited Partner commitments. According to data from Preqin, this marks the largest fundraise for a buyout strategy focused on the Japanese market.

Welcoming a new puppy or kitten into your home is a significant event and an opportunity to provide your new pet with a healthy start. Whether you are an experienced pet owner or this is your first pet, having support can be beneficial. To assist in this endeavor, Nationwide® has created the Pet HealthZone®, a free online resource designed to help you care for your new pet. Here is how it can support you in addressing your new pet’s needs.

Sydney, Australia, May 22, 2024 – Global investment firm Carlyle (NASDAQ: CG) and Australian private credit manager amicaa have announced a NZ$140 million debt financing package for New Zealand fuel retailer NPD. The funding will support a management buyout of the family-owned business.

Morgan Stanley Wealth Management announced the season two launches of its award-winning podcasts, "What Should I Do With My Money?" and "Invested at Work."

Corporates worldwide see sustainability primarily as a value creation opportunity, according to a new “Sustainable Signals” report by the Morgan Stanley Institute for Sustainable Investing. The survey polled over 300 private and public companies across North America, Europe, and APAC to understand how sustainability factors into their businesses and where their organizations see the greatest opportunities and challenges.

The Insurance Information Institute (Triple-I) and the National Insurance Crime Bureau (NICB) have partnered to combat contractor fraud, a growing issue that has stalled or completely halted the rebuilding process for many homeowners after a disaster. Sean Kevelighan, CEO of Triple-I, emphasized the importance of educating homeowners about common signs of fraud and offering guidance on hiring reputable contractors.

After more than three decades in the technology sector, I have come to appreciate that innovation can originate from the most unexpected places. Despite this open-minded approach, I never anticipated that a lacrosse field would serve as a source of business wisdom, particularly since I was not an active participant.

The Allstate Corporation (NYSE: ALL) has disclosed its estimated catastrophe losses for April 2024, amounting to $494 million before tax and $390 million after tax. The losses are said to encompass 11 events, estimated at $491 million, with roughly 80% of the losses attributed to four wind, hail or tornadic events.

The Allstate Corporation, a leading publicly held personal lines insurer in the United States, has announced that its Chair, President and Chief Executive Officer, Tom Wilson, will be presenting at the William Blair Growth Stock Conference. The conference is scheduled for 8:00 a.m. Central on Wednesday, June 5.

Morgan Stanley Baltimore recently celebrated the second annual graduation of its STEM Robotics Program. The event was held at Morgan Stanley’s Thames Street Wharf office in Harbor Point, where middle school students from The Crossroads School showcased the robots they had constructed during the 12-week program, under the guidance of Morgan Stanley employees.

WASHINGTON, D.C. (May 16, 2024)—The national average for a gallon of gasoline continues its slow decline, falling four cents since last week to $3.60. The main factors driving this decrease are weak domestic demand and oil costs below $80 a barrel.

Global investment firm Carlyle (NASDAQ: CG) has announced a $450 million forward flow agreement to purchase newly issued residential solar loans from Sungage Financial, a leading provider of solar financing. Alongside this, Carlyle has made a strategic investment into Sungage Financial. This partnership is expected to enhance Sungage Financial's origination capacity and drive future growth.

Nationwide research reveals that company drivers are facing escalating distractions and safety risks on the road, a situation worsened by staffing shortages leading to extended hours of driving and diminished focus on safety.

Carlyle (NASDAQ: CG) announced today that its Chief Executive Officer, Harvey Schwartz, is scheduled to present at Bernstein’s 40th Annual Strategic Decisions Conference. The event will take place in New York on Thursday, May 30, 2024, at approximately 9:00 AM EDT.

Morgan Stanley has announced the declaration of regular dividends on the outstanding shares of various preferred stock issues. The declared dividends are as follows:

Morgan Stanley Investment Management, via investment funds managed by Morgan Stanley Real Estate Investing (MSREI), announced the sale of a portfolio of four fully leased industrial properties. The properties, two in El Paso and two in Laredo, Texas, were sold for $178 million to two distinct institutional investors. The warehouses, totaling over 1.2 million square feet, are located within 10 miles of the United States’ border with Mexico which is currently experiencing a significant increase in manufacturing.

NORTHBROOK, Ill., May 14, 2024 – The Allstate Corporation (NYSE: ALL) announced today that its board of directors has approved a quarterly dividend of $0.92 on each outstanding share of the corporation’s common stock. This dividend will be payable in cash on July 1, 2024, to stockholders of record at the close of business on May 31, 2024.

The U.S. property/casualty industry experienced its second consecutive year of underwriting losses in 2023, with a net combined ratio of 101.6. Despite an improvement compared to 2022, personal lines remained the primary contributor to unprofitability in 2023. The latest industry underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman anticipate that premium growth will further enhance underwriting results in 2024, forecasting a net combined ratio of 100.2 for the P/C industry.