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Finance & Insurance
The finance & insurance group includes industries involving the movement and management of money. The most common finance & insurance related industries served by PrimeGlobal member firms include:
Asset Management. The sector of the financial services industry that manages collective investment schemes, referred to as mutual funds, investment funds, managed funds, or simply funds, and segregated client accounts, so that the greatest return is achieved.
Banking & Capital Markets. Financial institutions which connect customers that have capital deficits to customers with capital surpluses. Banks accept deposits and channel those deposits into lending activities, either directly or through capital markets. Capital markets are markets for securities (debt/bond market or equity/stock market), where companies and governments can raise long-term funds.
Employee Benefits Plans. Industries which administer and manage non-wage compensations provided to employees in addition to their normal wages or salaries. Such plans can include retirement plans, which provide retirement income or to defer income until termination of covered employment or beyond, or welfare plans, which provide health benefits, disability benefits, death benefits, prepaid legal services, vacation benefits, day care centers, scholarship funds, apprenticeship and training benefits, or other similar benefits.
Financial Services. Financial services are the economic services provided by the finance industry, which encompasses a broad range of organizations that manage money, including credit unions, banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises.
Insurance. The insurance industry includes all companies who sell or manage insurance products. Insurance entails payments to an insurance company in exchange for the promise to pay for damages, health procedures, etc. in the event of an accident or basic need. The insurance sector is segmented into four distinct sub-sectors: life insurance, property & casualty insurance, accident & health insurance, and miscellaneous insurance.
Pension Plans. Retirement plans in which an employer contributes to a pool of funds set aside for employees’ future benefit. The pool of funds is invested on the employee's behalf, allowing the employee to receive benefits upon retirement. The two main types of pension plans are defined-benefit plans, which guarantee that the employee will receive a definite amount of benefit upon retirement, regardless of the performance of the underlying investment pool, and defined-contribution plans, where the final amount of benefit received by the employee depends on the investment's performance.
Private Equity, Hedge Funds, & Mutual Funds. Industries that focus on the management of investments. Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity. Hedge funds are aggressively managed portfolios of investments that use advanced investment strategies such as leveraged, long, short and derivative positions in both domestic and international markets with the goal of generating high returns. Mutual funds are an investment vehicle made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.
To see more specifics about which PrimeGlobal member firms have a specialty in finance & insurance, or to find out if a particular member serves a specific sector, search the PrimeGlobal Directory.