WestJet, Canada’s second largest airline, is now offering complimentary COVID-19 insurance for eligible passengers for travel to and from the US, Europe, the UK, Mexico and the Caribbean until August 31, 2021. The carrier joins Air Canada in offering free Covid-19 insurance in an effort to boost sales as more Canadians elect to stay home or travel domestically to avoid Canada’s 14-day quarantine for international travelers.

Originally WestJet’s insurance did not include US coverage but will now cover travel to the United States. On September 25, 2020 WestJet announced that “guests travelling to, through or from the United States are now eligible for the airline’s enhanced $200,000 CAD COVID-19 travel insurance coverage for air-only and vacation reservations. The enhanced coverage will retroactively include all bookings made as of September 18, 2020 and will increase by $100,000 CAD to include up to a maximum of $200,000 CAD at no additional charge to eligible guests.”

Eligible bookings include any WestJet air-only reservation, including WestJet Vacations bookings for travel to and from the U.S., Mexico, the Caribbean, Europe (including U.K.) and inbound to Canada. These trips will be eligible for coverage for up to 21 days for travel into and including August 31, 2021. For one-way travel reservations, coverage is available for up to seven days.

Arved von zur Muehlen, WestJet Chief Commercial Officer, said that “Our research shows that a lack of COVID insurance is a considerable barrier to travel and our guests were seeking the inclusion of U.S. destinations to our travel insurance offering. Eligible guests travelling to and from the destinations we serve can now have an added layer of confidence

SAN FRANCISCO & FORT WORTH, Texas–(BUSINESS WIRE)–Oct 9, 2020–

TPG Pace Beneficial Finance Corp. (the “Company”), a newly organized blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of 35,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $350,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The Company’s units began trading on the New York Stock Exchange under the ticker symbol “TPGY.U” on October 7, 2020. Each unit consists of one of the Company’s Class A ordinary shares and one-fifth of one warrant, each whole warrant enabling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “TPGY” and “TPGY WS,” respectively.

TPG Pace Beneficial Finance Corp. is focused on sponsoring the public listing of a company that combines attractive business fundamentals with, or with the potential for strong environmental, social and governance principles and practices through a business combination.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Barclays Capital Inc. are serving as joint book runners for the offering. TPG Pace Beneficial Finance Corp. has granted the underwriters a 45-day option from the pricing of the offering to purchase up to an additional 5,250,000 units at the initial public offering price to cover over-allotments, if any.

The offering was made only by means of a prospectus, copies of which may be obtained from

For instance, Henrico County-based Elephant Insurance announced in August that it would offer a discounted rate to customers working from home. The company said policyholders and spouses working from home and driving less would be eligible to receive the new discount, depending on the number of days driven to work and the customer’s occupation.

“Some part of the work force will be working from home for a while, and as long as they work from home they deserve this consideration,” said Alberto Schiavon, Elephant’s CEO.

State Farm, the nation’s largest auto insurer, started reducing auto rates in every state in May because of changes in driving behavior.

The company said the national average for those rate reductions is 11%, saving customers a total of about $2.2 billion. Rate changes depend on a customer’s individual renewals.

State Farm said its rate reduction went in to effect on July 27 for new customers in Virginia, while existing customers will see the rate change on their renewal date.

The rate reductions in Virginia average about 9.6% and are expected to save the 1.2 million State Farm customers in the state a total of $84.3 million.

Many other major auto insurers also offered deals in the spring that have since expired.

For instance, Allstate, the nation’s fourth largest auto insurer, refunded 15% of its customers’ monthly premiums in April, May, and June. The company said the paybacks amounted to more than $1 billion.

Source Article

Lufax Holding, the operator of one of China’s biggest online wealth management platform, filed to go public in the US market, the latest Chinese company to shrug off concerns about worsening relations between the world’s two largest economies.

The Shanghai-based company is backed by China’s biggest insurer Ping An Insurance (Group) and follows in the footsteps of the insurer’s unit OneConnect Financial Technology, which raised US$312 million in its New York Stock Exchange (NYSE) debut in December.

Lufax said it plans to list its American depositary shares on the NYSE under the symbol, LU, it said in a regulatory filing early Thursday.

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Lufax did not disclose the size of its offering, using a common place holder figure of US$100 million in its filing with the US Securities and Exchange Commission. But sources have said the IPO could raise between US$2 billion and US$3 billion.

Lufax was valued at US$39.4 billion during its last-known funding round at the end of 2018. It previously considered a Hong Kong listing in 2018, but that never materialised. Details of potential US listing by Cayman Island-registered Lufax first emerged in July.

In Thursday’s filing, Lufax showed it had a net profit of 7.2 billion yuan (US$1.03 billion) for the six months to June 30. It reported a net profit of 7.5 billion yuan a year earlier.

The company said it plans to use the proceeds from the offering for general corporate purposes, including product development, sales and marketing activities and improving its technology infrastructure.

The company stopped facilitating new peer-to-peer loans in August last year. As of June 30, outstanding peer-to-peer loans as a percentage of total client assets had declined to 12.8 per cent.

Goldman Sachs,

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David Gandler


Courtesy of fuboTV


FuboTV

is considering offering sports betting but the live TV streaming platform hasn’t fully worked out its strategy, CEO David Gandler told Barron’s.

FuboTV (ticker: FUBO) provides access to more than 50,000 sporting events from leagues including the NFL, NBA, NHL and the MLB. Sports betting is currently not available on fuboTV, a spokesperson said.

“We think we can enhance the viewing experience with wagering,” Gandler told Barron’s. “We don’t have a strategy fleshed out but it’s an area of increasing interest.” FuboTV is “looking at its options,” Gandler added.

The New York-based company receives “constant interest” from parties in the sports-betting space from an advertising perspective, Gandler said. The CEO declined to disclose who fuboTV is talking to but noted the company already has a relationship, of over one year, with a provider.

In May 2019, fuboTV struck a deal with FanDuel Group, making it the exclusive sportsbook, online casino, horse racing and daily fantasy sports partner of the streaming service. FanDuel, a gaming company, also became the exclusive advertiser on fuboTV for the categories. The deal allowed FanDuel data to be integrated into fuboTV, TechCrunch said at the time.

FanDuel could not immediately be reached for comment.

Gandler spoke to Barron’s from the floor of the New York Stock Exchange. On Thursday, shares of fuboTV were uplisted to the New York Stock Exchange. Fubo had previously traded on the OTCQB Venture Market. When asked why the company made the switch, Gandler said: “This is the first time institutional investors can buy fuboTV [stock]. There is no volume on the OTC so you can’t buy stock.”

With the listing, fuboTV raised $183 million late Wednesday after boosting the size of its underwritten public offering, a statement said. FuboTV ended up