Hong Kong insurance titans like AIA, Prudential are on a hiring spree as they bet on Greater Bay Area, coronavirus to boost business

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Some of Hong Kong’s biggest insurers are dramatically upping their headcount of sales agents, betting that the Greater Bay Area will generate new business and that more people will buy policies in the wake of the Covid-19 pandemic.

Even against the backdrop of economic turmoil, the likes of AIA and Prudential say they are hiring more aggressively this year.

The number of insurance sales staff had risen 16 per cent to 122,769 by the end of March, after 16,943 newcomers joined the industry in the previous 12 months, according to official data.

The insurers’ hiring spree is in contrast to other industries which are laying people off, leading the jobless rate to hit a 15-year high of 5.9 per cent in the March to May period.

Hong Kong’s economy shrank 8.9 per cent year on year in the first quarter, the worst slump since records began in 1974. It has

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Leading Dutch F1 Ticket & Experiences Business Integrated Into Motorsport Tickets

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The new platform releasing soon from Motorsport Tickets will offer a comprehensive solution to circuit and series owners as well as simplifying the whole customer experience.

Motorsport Network are investing in the future of ticketing and racing experiences, taking full control and integrating SportStadion, a leading Netherlands based motorsport tickets and experiences business into its existing Motorsport Tickets offering. This follows the earlier acquisition and integration of Bookf1 in January, which subsequently changed its name to Motorsport Tickets

Motorsport Tickets is the first choice of fans who want to experience the thrill of live racing all over the world. With a pan European presence, we offer all ticket and hospitality options for the Formula 1, MotoGP and World Endurance Championships, alongside the iconic Le Mans 24 hour and historic Isle of Man TT.

Fans buying from Motorsport Tickets also get greater value thanks to the unique benefits and bundles

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Freeholders Announce Allocation Update For Small Business Grants

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FREEHOLD, NJ – Monmouth County businesses hit by the economic impact of the coronavirus pandemic may be eligible for grant money to assist with bills, rent and mortgages, according to Monmouth County Freeholder Director Tom A. Arnone at a conference Wednesday morning. Through the CARES (Coronavirus Aid, Relief and Economic Security) Act, the funding will be used to assist small businesses with less than 50 employees up to $10,000 in grants.

The Freeholders are currently looking to partner with an organization that can develop an online grant application process to efficiently handle requests, Arnone said on Wednesday.

“Businesses should start to put together their receipts for expenses they have incurred because of the pandemic, including rental expenses and utility expenses,” said Arnone. “Having your paperwork prepared will give you a head start when the process begins.”

Federal dollars will also be used to bolster the Monmouth ACTS (Assisting Communities Through

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Associated Banc-Corp Closes Deal to Sell Insurance Business

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Associated Banc-Corp ASB has completed the sale of the insurance business, Associated Benefits & Risk Consulting, to USI Insurance Services LLC for $265.8 million in cash. The deal was announced in May.

Being a multi-line insurance agency with 400 employees, Associated Benefits & Risk Consulting provides employee benefits, retirement plans, compliance, business insurance, risk management and individual insurance solutions.

Associated Banc-Corp is likely to record a pre-tax book gain of $165 million related to the sale in second-quarter 2020.

At the time of announcing the transaction, the company had expected that this would strengthen the capital base and lead to an increase in tangible common equity by $210 million. It will lower $99 million of goodwill and other intangible assets. Also, the bank’s pro-forma efficiency ratio is projected to decline 1%.

Headquartered in Valhalla, NY, USI Insurance Services is one of the largest insurance brokerage and consulting firms in the

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