Shares of HSBC Holdings plc (ADR) (NYSE:HSBC) ended Friday session in green amid volatile trading. The shares closed up +0.77 points or 2.03% at $38.65 with 4,803,721 shares getting traded. Post opening the session at $38.51, the shares hit an intraday low of $38.40 and an intraday high of $38.85 and the price vacillated in this range throughout the day. The company has a market cap of $156.35 billion and the numbers of outstanding shares have been calculated to be 19.75 billion shares.
HSBC Holdings plc provides banking and financial products and services in the United Kingdom and internationally. It operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking businesses. The companys Retail Banking and Wealth Management business offers a range of personal banking products and services, including current and savings accounts, mortgages and personal loans, credit cards, debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, asset management services, and financial planning services.
Shares of XL Group plc (NYSE:XL) ended Friday session in green amid volatile trading. The shares closed up +0.44 points or 1.28% at $34.75 with 2,649,918 shares getting traded. Post opening the session at $34.41, the shares hit an intraday low of $34.33 and an intraday high of $34.86 and the price vacillated in this range throughout the day. The company has a market cap of $9.56 billion and the numbers of outstanding shares have been calculated to be 274.97 million shares.
On Aug. 31, 2016 XL Catlin announced it has updated the wording of its Active Assailant coverage to include the use of road vehicles in an attack.
Stephen Ashwell, XL Catlin’s Chief Underwriting Officer for Crisis Management said: “The tragic events that took place in Nice in July prompted us to review our coverage and we have now added the use of road vehicles in an attack to our covered events. It’s a sad fact that we are living in an age where groups and individuals, set on doing harm, are diversifying and modifying their methods and we have updated our solution to ensure we are providing relevant insurance coverage.”
XL Catlin launched its Active Assailant solution in May 2016. It is currently underwritten in the UK, U.S., Germany and Asia Pacific covering clients globally. The solution is designed to help organisations with the financial impacts of Active Assailant events ranging from business interruption through to counselling and medical expenses for employees and customers. Coverage can be triggered by property damage or bodily injury.
As well as providing coverage for standard Property damage, Active Assailant coverage also provides coverage for Business Interruption including a determination by authorities that the client’s operations have to cease at their current location. The new endorsement also provides enhanced Extra Expense coverage, which may include expenditures related to public relations assistance, relocation, counselling and/ or psychiatric care, medical expenses, additional security and job retraining.