Best Insurance Stocks To Invest In 2023

What Happened: Multinational electronics company Xiaomi Corp (OTC:XIACF) is open to expanding its financial services business to include cryptocurrency, but only after it is clear on the regulatory environment.

Manu Kumar Jain, managing director of Xiaomi India, told the Economic Times that the company’s financial services business would only venture into crypto after gaining a better understanding of how to be compliant with local laws in India.

“We will want to wait for all the regulatory things. Of course, crypto is an area, which is extremely interesting, and is the biggest buzzword, and is doing exceptionally well. But, we would want to understand more on the regulation side,” he said.

Why It Matters: Xiaomi’s financial services business grew by 95% during the first three months of the year, compared to the last three months of 2020.

In fact, the business now includes a complete spectrum of payment, lending, and insurance verticals. The lending platform also facilitates business loans and is expected to launch gold loans in the near future.

According to Jain, the business is now so big that it can no longer be considered a subset of Xiaomi’s internet service business.

Best Insurance Stocks To Invest In 2023: PulteGroup, Inc.(PHM)

PulteGroup, Inc., through its subsidiaries, engages primarily in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on land. It offers various home designs, including single-family detached houses, townhouses, condominiums, and duplexes under the Pulte Homes, Del Webb, Centex, DiVosta Homes, John Wieland Homes, and Neighborhoods brand names. As of December 31, 2015, the company controlled 138,079 lots, which included 95,919 company owned lots and 42,160 lots under land option agreements. It also arranges financing through the origination of mortgage loans, principally for homebuyers; sells the servicing rights for the originated loans; and provides title insurance policies, and examination and closing services to homebuyers. The company was formerly known as Pulte Homes, Inc. and changed its name to PulteGroup, Inc. in March 2010. PulteGroup, Inc. was founded in 1950 and is headquartered in Atlanta, Georgia.

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