|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||18.97 - 19.34|
|52-week range||13.50 - 29.71|
|Beta (5Y monthly)||0.63|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||1.51 (7.39%)|
|Ex-dividend date||21 Apr 2020|
|1y target est||N/A|
When people in the U.S. or Europe think of crowdfunding and medical expenses, sites like GoFundMe, where people fundraise around specific predicaments, come to mind. Waterdrop, which goes by Shuidihuzhu in China (translated as "water drop mutual help"), today said that it has raised $230 million in a new round of funding jointly led by two strategic investors, the insurance giant Swiss Re and returning investor Tencent, whose WeChat platform is used to sign up users and buy products using a quick QR code scheme. Previous investors IDG Capital and Wisdom Choice Global Fund also participated in the Series D. The startup is not disclosing its valuation, but when the round had partially closed at $200 million earlier this month, PitchBook noted that its pre-money valuation was $1.8 billion, which puts the valuation now at just over $2 billion.
Reinsurance company Swiss Re <SRENH.S> said on Friday the $2.5 billion in claims and reserves related to COVID-19 that it booked in the first half of the year would likely cover the bulk of its pandemic-related losses. The Zurich-based company, confirming figures released last week, said it swung to a loss of $1.1 billion (837.58 million pounds) in the first half of the year.
Swiss Re <SRENH.S> will disband its Life Capital business unit after wrapping up the sale of its British ReAssure business later this year, the reinsurer said on Friday, adding the unit's head, Thierry Leger, will become its new chief underwriting officer. Leger on Sept. 1 will replace Edi Schmid, who Swiss Re said would be leaving for personal reasons and taking on an advisory role. Phoenix Group Holdings <PHNX.L> bought Swiss Re's ReAssure business for about $4.1 billion (£3.3 billion) late last year, and the deal is expected to be completed in the third quarter of 2020.