Finance, Banking & Insurance

Toronto – October 02, 2026 -- Manulife Financial Corporation has closed a reinsurance transaction transferring biometric risk on a block of long-term care policies carrying $3.2 billion in reserves to Munich American Reassurance Company, a US subsidiary of Munich Re Group.

Manulife offloads $3.2 billion in long-term care reserves to Munich Re Life US

The deal shifts biometric risk exposure tied to the long-term care block off Manulife's balance sheet and onto Munich Re Life US, a subsidiary specializing in life and disability reinsurance for North American carriers. The transaction was first announced on October 02, 2026, and has now reached formal closing.

Nashville, Tenn. – October 02, 2026 -- INSBANK marked the 10th anniversary of its INSBY Awards on September 30, naming four Middle Tennessee businesses for entrepreneurial achievement at a ceremony held at Belle Meade Historic Site & Winery.

Four client firms receive 2026 recognition

Infinity Hospitality, a Nashville event planning company serving weddings and corporate events, led this year's honorees. Worley Sound, a premium live sound reinforcement and audio consulting firm, and TMP, a Nashville-based architecture and interior design practice, were also recognized. Venture Express, a carrier specializing in high-volume, time-sensitive freight shipping available 24/7, rounded out the 2026 class.

Dallas – October 02, 2026 -- Highland Global Allocation Fund (NYSE: HGLB) has declared monthly distributions of $0.085 per share for October, November and December 2026, under an annual distribution rate reset to 8.5% of the fund's average net asset value.

Fund locks annual rate to 8.5% of year-end NAV average

The 8.5% rate was calculated using the average NAV per share reported over the final five trading days of the 2025 calendar year, per the fund's Level Distribution Policy. NexPoint Asset Management, L.P., the SEC-registered adviser managing the closed-end fund, confirmed the Q3 2026 Distribution Amount was reset based on this calculation and may be adjusted again in future periods.

Metro Chicago – October 02, 2026 -- Calamos Investments has declared monthly distributions paid in October 2026 across seven of its closed-end funds, accompanied by mandatory source-of-distribution disclosures required under Section 19 of the Investment Company Act of 1940.

Seven closed-end funds confirm October payouts under distribution plans

The affected funds trade on Nasdaq under tickers CHI, CHY, CSQ, CGO, CHW, CCD and CPZ. Calamos Global Total Return Fund, Calamos Global Dynamic Income Fund, Calamos Dynamic Convertible and Income Fund, Calamos Convertible Opportunities and Income Fund, and Calamos Convertible and High Income Fund are reporting estimated distribution sources based on year-to-date cumulative experience, with the firm attributing these estimates equally across each regular distribution for the year.

Las Vegas – October 02, 2026 -- Bold Penguin, the Digital Broker for commercial insurance, has entered a global strategic partnership with bolttech, an insurtech operating in 39 countries across four continents, to build a joint commercial and personal lines offering for agents, insurers and embedded partners in the U.S., Europe and Asia.

Bold Penguin's U.S. customers gain access to bolttech's personal lines tools through one interface

The deal combines Bold Penguin's Digital Exchange, which matches commercial risks to best-fit markets from submission through real-time quote and digital bind, with bolttech's embedded distribution network and AI-enabled workflows spanning personal and commercial lines. Bold Penguin also contributes its DeX ai intelligence layer and integrated commercial carrier network to the arrangement.

Toronto – – October 02, 2026 -- Valour, the asset management arm of DeFi Technologies Inc. (Nasdaq: DEFT), reported $640.2 million in assets under management as of October 02, 2026, a 61.2% jump from $397.2 million at the end of the second quarter. The $243 million increase reflects sustained net inflows and marks a roughly 64% rebound from Valour's cycle low of approximately $390 million.

Valour's AUM base expands as investor inflows continue month over month

DeFi Technologies said Valour has recorded net inflows every month, with specific figures to be disclosed alongside quarterly financial results. The larger asset base expands the pool available for management fees, staking and lending income, and trading-related revenue, according to the company.

Toronto – – October 01, 2026 -- Info-Tech Research Group has appointed Kim Chanderbir as Senior Managing Partner II for Financial & Professional Services, adding more than 30 years of executive leadership experience to its advisory bench as demand grows for outcomes-driven consulting in regulated sectors.

Chanderbir has managed portfolios exceeding $550 million across global markets

Her career spans financial services, insurance, fintech, SaaS, technology, government, and healthcare, where she led enterprise modernization, managed services, and client success mandates. She has overseen teams of more than 1,000 professionals across North America, EMEA, APAC, LATAM, and Japan.

Stamford, Conn. – October 01, 2026 -- Steward Partners added six advisor teams managing a combined $2.2 billion in client assets during the third quarter of 2026, with five of the six joining through the firm's M&A channel.

Five teams join via acquisition, underscoring consolidation demand among independent advisors

American Financial Advisors, led by Mike Stark in Georgia, brought approximately $1 billion in client assets, the largest addition of the quarter. O'Neill Wealth Management in New Jersey contributed roughly $426 million, followed by Sapphire Blue Advisors in Michigan with about $305 million. KM Private Wealth, led by Kyle Martin in Alabama, added $194 million, while Axiom Capital Wealth Management, led by Bob Phinney in Massachusetts, brought $191 million. Integrity Financial Services, led by Jeff Seitz in Washington, joined through Steward's traditional affiliation model with $116 million in assets.

San Jose, Calif. – October 01, 2026 -- AppZen has launched ZenLM Plus, a family of finance-specialized large language models that outperformed seven frontier AI models on expense audit accuracy while cutting inference costs, the company announced.

Manama – October 01, 2026 -- The Bahrain Economic Development Board will convene the fourth edition of Gateway Gulf on November 1-2, 2026, at the Four Seasons Hotel Bahrain Bay, building on a 2025 edition that generated more than USD 17 billion in announced transactions and investment commitments.

Invitation-only forum targets 200 senior decision-makers across five continents

The event, themed 'Reimagining Global Partnerships, Powering Sustainable Growth,' will gather ministerial officials, chief executives and investors from the Middle East, Asia, Europe, Latin America and North America. Bahrain's public and private sector representatives will join 200 senior decision-makers for two days of curated networking, private meetings and investment showcases.