Posts by Hometown Insurance
Russia’s Flagship Oil Sells at Half Global Prices, Below G7 Imposed Cap
Russia’s flagship oil is selling at less than half international prices — and way below a Group of Seven imposed cap — following sanctions targeting the Kremlin’s revenue from petroleum sales. The nation’s Urals grade, a far bigger export stream …
Read More Georgia Has Funds for Testing Lead in Water But Few Schools Sign Up
Lead exposure can have serious health consequences for children, but only a fraction of Georgia schools have signed up for a free testing program. Advocates worry school leaders are hesitant because of the cost and consequences of discovering lead in …
Read More Amynta Group to Acquire Brit’s MGU Ambridge Group for $400M, Forms Capacity Deal
Brit Ltd.’s managing general underwriter, Ambridge Group, will be acquired by Amynta Group for $400 million. In addition, a multi-year strategic partnership has been formed in which Brit (a subsidiary of Fairfax Financial Holdings Ltd.) will be a significant capacity …
Read More Miss. Farms Settle Suits Over South African Laborers’ Higher Wages
Two agriculture businesses in the Mississippi Delta and some Black farm workers have settled the workers’ lawsuits over claims the farms hired white laborers from South Africa and paid them more than the local Black employees for the same type …
Read More Vista Equity Partners to Buy Duck Creek for $2.6B Cash
Insurance software provider Duck Creek Technologies said it has entered into an agreement to be bought by Vista Equity Partners in an all-cash deal of about $2.6 billion. Pending Duck Creek stockholder and regulatory approvals, the transaction is expected to …
Read More Bankman-Fried Fraud Charges Sidestep Debate Over How U.S. Law Sees Crypto
Sam Bankman-Fried may find it hard to argue the fraud charges against him should be tossed because of uncertainty as to how U.S. law treats cryptocurrency, as other high-profile defendants in criminal cases involving digital assets have done. That is …
Read More People Moves: AXA XL Promotes Coxall to Head of U/W Mgmt, UK & Lloyd’s; LSM Hires BNP’s Faulkner to Lead Digital Strategy in Europe; MS Amlin Beefs Up U/W Team
This edition of International People Moves details appointments at AXA XL, Liberty Specialty Markets (LSM) and MS Amlin. A summary of these new hires follows here. AXA XL Promotes Coxall to Head of Underwriting Mgmt, UK & Lloyd’s AXA XL …
Read More France’s Danone Faces Legal Action Over Plastic Use and Reporting Practices
Some environmental groups have taken legal action against French bottled water and dairy group Danone over its plastic use, accusing it on Monday of failing to sufficiently account for all the plastic used along its production cycles. Danone, the world’s …
Read More Ant Group Founder to Give Up Control in Major Overhaul of Chinese Fintech Giant
Ant Group’s founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two …
Read More M&A Drops From 2021 Record High but Activity ‘Solid’: Marshberry
Following a record year in 2021, insurance agency consulting firm Marshberry said the amount of mergers and acquisitions in the insurance industry dropped by more than 200 in 2022 but when all is said and done, the year could still …
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