RICHMOND, Va., Oct. 13, 2020 /PRNewswire/ — The Hilb Group, LLC (“THG”) announced today that it has acquired Maryland-based Insurance Solutions (“ISI”). The transaction became effective on October 1, 2020.
Founded in 1989, ISI is a full-service employee benefits agency with expertise in group health & dental, life & disability, and other employer sponsored benefits. As a part of the transaction, the Insurance Solutions leadership team of Brian Goff, Pam Nickerson and Jennifer Shipp, and their associates will join THG’s Mid-Atlantic operations and continue to work out of their existing location in Annapolis, Maryland.
“We are excited to bring our expertise in employee benefits to THG,” said Brian Goff. “We are looking forward to being part of THG and the opportunities to further serve our clients with the insurance solutions we provide.”
“We are pleased to welcome Brian, Pam, Jenn, and their associates
EL DORADO HILLS, Calif., Oct. 13, 2020 /PRNewswire/ — Patra, a leading provider of technology-enabled solutions for the insurance industry, along with AmWINS Group, CRC Group, Heffernan Insurance Brokers, are among the leading companies that have formed InsurConneXtions Alliance, a strategic alliance that will prioritize, develop, and integrate specific technology solutions into critical insurance processes – for the purposes of driving processing efficiencies and industry standards.
The Insurance industry will need to rapidly adopt technology to drive efficiencies and economic value for our customers
The formation of InsurConneXtions represents leaders across insurance technology, brokerage, wholesale, and specialty insurance, and represent over $50 Billion in Insurance premiums.
With a multitude of decisions and rapid changes facing the insurance industry, collaboration and cooperation is required to accelerate the integration of technology into critical and high-volume processes. The charter members of the Alliance are well positioned to leverage their expertise, experience, and market
MELBOURNE (Reuters) – Global miner BHP Group said on Tuesday it reached an agreement with a coalition of Aboriginal land councils over principles for heritage management, a day ahead of a shareholder vote on a related issue at its annual meeting. The agreement follows increased scrutiny on the protection of significant cultural sites after Rio Tinto Ltd legally destroyed a rock shelter showing evidence of 46,000 years of human habitation in Western Australia as part of an iron ore mine expansion in May.
BHP and the First Nations Heritage Protection Alliance would identify areas where they could work together to improve standards and practices on cultural heritage, they said in separate statements.
The alliance is made up of Australia’s major Aboriginal Land Councils and Native Title groups.
BHP said the two bodies had
MELBOURNE, Oct 13 (Reuters) – Engie SA ENGIE.PA and Mitsui & Co have sold a 75% stake in their newly established Australian Renewable Energy Trust to Infrastructure Capital Group (ICG) to help speed up growth in their green energy investments.
Terms of the deal were not disclosed but a person familiar with the transaction said the stake was sold for A$400 million ($287 million).
The deal comes at a time when infrastructure investors are turning away from airport and road investments which are struggling due to the coronavirus pandemic. ICG, an Australian fund, has A$2.5 billion of equity under management.
“ICG’s long-term vision and expertise in the sector will help ENGIE ANZ build more renewable energy projects in Australia, while supporting the ongoing operations of our assets,” Engie Australia and New Zealand Chief Financial Officer Gary Brown said in a statement on Tuesday.
Engie will operate the portfolio of renewable
Follow us @middleeast for more news on the region.
National Commercial Bank, Saudi Arabia’s largest lender by assets, agreed to buy rival Samba Financial Group for $15 billion in one of the biggest banking takeovers this year.
NCB agreed to pay 28.45 riyals ($7.58) for each Samba share on Sunday, valuing it at about 55.7 billion riyals. NCB will offer 0.739 new shares for each Samba share, at the lower end of the 0.736-0.787 per share ratio agreed when the banks signed an initial framework agreement in June.
The offer price is a 3.5% premium to Samba’s Oct. 8 closing price of 27.50 riyals and about 24% higher than the price the shares traded at before the talks were made public in June. The combined bank will have total assets of
Essent Group Ltd. (NYSE: ESNT) announced today that its wholly-owned subsidiary, Essent Guaranty, Inc., has obtained $399.2 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written in September 2019 through July 2020 from Radnor Re 2020-2 Ltd., a newly formed Bermuda special purpose insurer. Radnor Re 2020-2 Ltd. is not a subsidiary or an affiliate of Essent Group Ltd.
Radnor Re 2020-2 Ltd. has funded its reinsurance obligations through the issuance of five classes of mortgage insurance-linked notes, with 10-year legal maturities, to eligible third party capital markets investors in an unregistered private offering.
The mortgage insurance-linked notes issued by Radnor Re 2020-2 Ltd. consist of the following five classes:
$79,832,000 Class M-1A Notes with an initial interest rate of one-month LIBOR plus 315 basis points;
$93,137,000 Class M-1B Notes with an initial interest rate of one-month LIBOR plus 400 basis points;
$93,137,000 Class M-1C
ICM Partners continued its European expansion with the purchase of London-based sports agency Stellar Group, the biggest acquisition in the 45-year history of the Hollywood talent agency.
Stellar, which ranked fourth last year in Forbes’ annual look at the world’s most powerful sports agencies, represents more than 800 athletes—mostly in soccer but also in track & field, cricket, rugby and the NFL—and manages current contracts totaling almost $3 billion, according to ICM.
“The world is becoming so interconnected and horizontal. The walls are all down with everything. It’s about evaluating talent and what kind of impact you can have with that talent,” says ICM CEO Chris Silbermann, who declined to disclose the price of the Stellar deal. “We feel we can apply a
ICM Partners is diving into the sports representation business with the acquisition of London-based sports agency Stellar Group.
Stellar Group represents more than 800 athletes, most of them soccer players in addition to NFL players. The agency has about 130 employees spread among offices in the U.K. as well as Boston and Atlanta, Germany, Spain, Portugal, France, Italy, Denmark and other countries.
The deal will create ICM Stellar Sports, which will be run by executive chairman Jonathan Barnett and David Manasseh, who co-founded Stellar in 1992. ICM Partners veteran Ted Chervin will serve as chairman of the sports agency with a mandate to help grow its sports roster in North America and to drive business for new and existing ICM clients thanks to new-found heft in the sports world.
The entertainment business landscape has recently seen a wave of NBA and NFL players set up content production pacts with major