Finance Knuggets

Jul 18, 2024

I recently heard about the significant increase in the usage of automotive usage-based insurance in the APAC region, with the market projected to expand to $249 billion by 2032. APAC consumers are also adjusting their spending habits amidst economic uncertainty, with many choosing to save money by trading down. In the cyber insurance investment arena, a Forrester report found that only a quarter of firms possess standalone policies, debunking misconceptions about the industry.

In Japan, SMFG issued new shares worth $23.89 million, and classic flavors continue to dominate new product launches in packaged foods, with chocolate leading in staying power. Japanese life insurers’ premium income hit $18 billion, while Southern China experienced floods that triggered 18,400 insurance claims and estimated losses of $86.66 million.

In the United States, venture capitalists Marc Andreessen and Ben Horowitz announced their financial support of Donald Trump’s campaign, citing concerns about issues impacting tech startups. Additionally, EssilorLuxottica, the European glasses and lenses giant, has agreed to buy streetwear brand Supreme from North Face owner VF Corp for $1.5 billion in cash, marking EssilorLuxottica’s first major move outside of eyewear, expanding into the apparel industry.

I also heard about several funding rounds in the tech industry, including Mira, Merly.ai, Itselectric, and Earthshot Labs. There were also several acquisitions and takeover bids in the private equity space, along with some SPAC deals and significant liquidity events, including the sale of Trachte to nVent Electric for $695m and Allianz’s agreement to buy a 51% stake in Singapore’s Income Insurance for around US$1.64b. These are the key financial news from the tech and private equity sectors that I heard about.

Stay Well!

summy
summy