News
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Elixir formally launches cyber MGA Trivora Insurance
By Michael LoneyJuly 1 - (The Insurer) - Farhan Shah-led Elixir Technology Holdings has officially launched MGA brand Trivora Insurance, which is initially focusing on the cyber market.Elixir Technology Holdings was set up last year with former Vantage chief technology and information security offic...Reuters
Tue, Jul 1
TimberHP Exits Chapter 11 With $21 Mln In New Working Capital
July 1 (Reuters) - TimberHP: EXITS CHAPTER 11 WITH STRENGTHENED BALANCE SHEET, ROADMAP FOR LONG-TERM FINANCIAL STABILITY AND GROWTHEMERGES WITH $21 MILLION IN NEW WORKING CAPITALEXPECTS TO HAVE CERTIFIED TIMBERBOARD AVAILABLE FOR SALE BY END OF YEARReuters
Tue, Jul 1
International Game Technology Announces $1.1 Bln Capital Return To Shareholders
July 1 (Reuters) - International Game Technology:BRIGHTSTAR LOTTERY COMPLETES SALE OF GAMING & DIGITAL BUSINESS AND ANNOUNCES $1.1 BILLION CAPITAL RETURN TO SHAREHOLDERSINTERNATIONAL GAME TECHNOLOGY: $1.1 BILLION CAPITAL RETURN MADE OF $3.00/SHARE SPECIAL CASH DIVIDEND, $500 MILLION REPURCHASEReuters
Tue, Jul 1
Columbia to pay $9 million to settle lawsuit over US News college ranking
By Jonathan StempelNEW YORK, July 1 (Reuters) - Columbia University agreed to pay $9 million to settle a proposed class action by students who claimed it submitted false data to boost its position in U.S. News & World Report's influential college rankings.A preliminary settlement, which requ...Reuters
Tue, Jul 1
AstraZeneca CEO eyes US market listing, The Times reports
July 1 (Reuters) - AstraZeneca AZN.L chief executive Pascal Soriot is considering moving the company's stock market listing to the United States, The Times reported on Tuesday, citing multiple sources.The company did not immediately respond to Reuters' request for comment.Reuters
Tue, Jul 1
Tennis-Musetti becomes latest men's seed to exit Wimbledon
By Martyn HermanLONDON, July 1 (Reuters) - Men's seeds continued to perish at Wimbledon on Tuesday with last year's semi-finalist Lorenzo Musetti dumped out in the first round by inspired Georgian qualifier Nikoloz Basilashvili on Tuesday.Seventh seed Musetti, playing his first match since r...Reuters
Tue, Jul 1
With 'fuel in the tank', HDVI’s Spitz says trucking insurtech focused on enterprise value
By James ThalerJune 29 - (The Insurer) - Trucking insurtech HDVI is focused on building enterprise value and achieving profitability after new funding earlier this year put "fuel in the tank", co-founder and CEO Reid Spitz told The Insurer.Spitz was originally chief operating officer before ...Reuters
Tue, Jul 1
CompScience's 'special sauce' changes industry economics as it eyes vertical expansion, Butler says
By James ThalerJune 30 - (The Insurer) - CompScience’s Josh Butler has said the AI-powered workers' compensation MGA is eyeing industry vertical and product expansion after completing its $27.5 million Series B earlier this year, and argued the insurtech “fundamentally changes” industry economic...Reuters
Tue, Jul 1
Fed's Powell says he is focused on doing job '100%', earns applause at ECB event
SINTRA, Portugal, July 1 (Reuters) - U.S. Federal Reserve Chair Jerome Powell, asked whether President Donald Trump's personal attacks make his job harder, on Tuesday said he was "100%" focused on delivering on the Fed's congressional mandates, earning applause from his fellow centra...Reuters
Tue, Jul 1
Crypto.com secures $120 million Aon-placed insurance coverage for digital assets
By Isha MaratheJuly 1 - (The Insurer) - Cypto.com, a regulatory compliance, security and privacy firm, has secured $120 million total of crime and specie insurance coverage for digital assets custodied by Crypto.com Custody Trust Company, and arranged by Aon.The insurance coverage, effective since ...Reuters
Tue, Jul 1
Warner Music, Bain Capital launch $1.2 billion venture to buy music catalogs
July 1 (Reuters) - Warner Music Group WMG.O and Bain Capital are launching a joint venture to purchase up to $1.2 billion of music catalogs, the companies said on Tuesday, the latest in a series of partnerships between record labels and private equity firms. While the companies will work together to...Reuters
Tue, Jul 1
Trucordia adds Aon's Khanna as chief information officer
By Isha MaratheJuly 1 - (The Insurer) - U.S. insurance broker Trucordia said on Tuesday that it has hired Rajeev Khanna, former global chief technology officer at Aon, as its chief information officer. In the role, Khanna will guide Trucordia's platform integration strategy, lead digital transf...Reuters
Tue, Jul 1
Aon adds Vantage's Patel as North America financial institution industry leader
By Isha MaratheJuly 1 - (The Insurer) - Aon has hired Bhuma Patel, former senior vice president at Vantage Risk Companies, as North America financial institution industry leader. Patel has over 20 years of experience in the industry. Before Vantage Risk, she held roles at CNA Insurance, Axis Capita...Reuters
Tue, Jul 1
King Risk acquires New Jersey's VIA Insurance Agency
By Isha MaratheJuly 1 - (The Insurer) - King Risk Partners has acquired VIA Insurance Agency, based in Holmdel, New Jersey, expanding its presence in the state. The financial terms of the deal were not disclosed. "Their commitment to client satisfaction and personalised service aligns perfectly...Reuters
Tue, Jul 1
CORRECTED-Grammarly to acquire email startup Superhuman in AI platform push
Superhuman valued at $825 million in 2021, $35 million annual revenueSuperhuman CEO Vohra joins Grammarly, will keep running the productDeal comes after Grammarly's billion-dollar fundraisingBy Krystal Hu July 1 (Reuters) - Grammarly has signed a deal to acquire email efficiency tool Superhum...Reuters
Tue, Jul 1
Liberty GTS names Lunn to lead UK, CEE and MEA regions
By Rebecca DelaneyJuly 1 - (The Insurer) - Liberty Mutual's Global Transaction Solutions (GTS) unit has appointed Nick Lunn as head of the UK, central and eastern Europe, the Middle East and Africa, it announced on Tuesday.Lunn joined Liberty GTS in February 2020 and spent five years as head of ...Reuters
Tue, Jul 1
Levine: Shepherd will ‘win more’ with builder's risk-enhanced combined solution
By James ThalerJune 29 - (The Insurer) - Shepherd’s ability to now offer clients a broad range of construction industry-focused coverages means the MGU is in a strong position to “win more” business overall, CEO Justin Levine has declared.This publication revealed in late March that Shepherd had sec...Reuters
Tue, Jul 1
