Marc BenioffReuters/Mike Blake

Salesforce sold its Zoom stake last quarter, a regulatory filing revealed this week.
Marc Benioff’s software titan potentially made as much as $600 million in profit, depending on when it sold.
Salesforce bought 2.8 million shares in the video-conferencing group for $100 million in April 2019, and Zoom’s stock price has surged more than 500% since then.
The company also exited its Dropbox position and sold most of its SurveyMonkey shares.
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Salesforce cashed out its stake in Zoom Video Communications last quarter, potentially scoring a 600% return in 14 months, according to a regulatory filing this week.

Marc Benioff’s enterprise-software company spent $100 million to buy about 2.8 million shares in the video-conferencing platform immediately after it went public last April.See the rest of the story at Business Insider

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Original Source: feedproxy.google.com

LifeDamian Gadal/Shutterstock

 

According to data from S&P Global, the life insurance industry lost a total of $50 billion in the first quarter of 2020. 
A big share of life insurance companies’ revenue comes from annuities, or insurance contracts which provide retirement income after purchase.
Since this money is invested, it’s especially vulnerable to market fluctuations. 
The least affected product from these losses will be term life insurance, a product that’s more insulated from the market.
Prices could increase marginally, but term life insurance will still be the most affordable way to cover your family. 
Policygenius can help you compare life insurance policies to find the right coverage for you, at the right price »

According to new data from S&P Global, the US life insurance industry saw big drops recently — in the first quarter of 2020 alone, the industry lost more than $50 billion. 

But the industry losses shouldn’t affect every type life insurance equally, says Steven Weisbart, a senior economist with the Insurance Information Institute. Because each product is so different, life insurance options like annuities and universal life plans will be more affected than options like term life insurance. See the rest of the story at Business Insider

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Zurich Insurance Group on Thursday said property and casualty claims related to the coronavirus pandemic could total around $750 million this year, after booking $280 million such claims in the first quarter.

Original Source: cnbc.com

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