Most read stories for the week include an article on MassMutual seeking large rate increases on its in-force long-term care policies and an investment banker joining Hovde Group.
MassMutual's reported LTC rate hikes to come on book heavily reinsured by GE
An article by The Wall Street Journal revealing Massachusetts Mutual Life Insurance Co.'s plan to seek large, nationwide rate increases on a majority of its in-force long-term care policies shows additional evidence of the broader woes facing the business that had been brought to the fore by a massive 2017 General Electric Co. reserve charge.
Hovde adds depository i-banker
Jason Trembley, an investment banker who focuses on depository institutions, joined Hovde Group LLC.
Square's board was divided over move into cryptocurrency, says Dorsey
Square Inc.'s decision to allow users to buy and sell bitcoin on its Cash app was fraught with "debate and disagreement and fights," CEO Jack Dorsey said.
Fintech funding flocked to investment tech in April
Fintech investors took a shine to investment and capital markets-focused companies during April, including Symphony Communication Services, LLC, which provides a chat platform for financial institutions, according to our review of funding for private U.S.-based companies.
Rate increases for in-force individual LTC policies continued in Q1
Regulators signed off on 271 in-force rate increases for insurers' legacy long-term care blocks of business during the first three months of the year.
