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Clear Blue’s $45 million surplus note gets KBRA BBB preliminary rating to support growth
By David BullMay 19 - (The Insurer) - KBRA has assigned a preliminary rating of BBB with a stable outlook to surplus notes totaling an estimated $45 million issued by Clear Blue carrier subsidiaries that will support a strong growth pipeline, after the fronting carrier secured support from investors...Reuters
Mon, May 19
Economic Indicator
Scope Ratings Says US Public Debt Trajectory And Interest Payments Set To Worsen And Exceed Sovereign Peers
May 19 (Reuters) - SCOPE RATINGS:SCOPE RATINGS: US PUBLIC DEBT TRAJECTORY AND INTEREST PAYMENTS SET TO WORSEN AND EXCEED SOVEREIGN PEERSSCOPE: TRUMP’S PROPOSED REDUCTIONS IN DISCRETIONARY FUNDING FOR 2026, HIGHER EXPECTED REVENUE FROM TARIFFS, UNLIKELY TO SIGNIFICANTLY LOWER BUDGET DEFICITSCOPE: EXP...Reuters
Mon, May 19
Commodities
US natgas futures fall 5% to 3-week low on rising output
US LNG export feedgas hit record high in AprilUS gas output hit record high in AprilUS gas storage about 3% over five-year normalBy Scott DiSavino May 19 (Reuters) - U.S. natural gas futures fell about 5% to a three-week low on Monday on a small increase in output over the last few days even thou...Reuters
Mon, May 19
Commodities
Rokstone and AIR Parametric get Liberty capacity for parametric US dairy industry cover
By Chris MunroMay 19 - (The Insurer) - Rokstone Agriculture has partnered with AIR Parametric and launched an innovative product that provides U.S-based dairy producers with protection against the impact of heat stress on their herds, with the new coverage backed by admitted capacity from Liberty Mu...Reuters
Mon, May 19
Other
Johnson & Johnson-backed MGU Motion Specialty secures Lloyd's coverholder status
By Scott VincentMay 19 - (The Insurer) - Former Hiscox underwriters Dan Alpay and Alex Kickham formally announced the launch of U.S. managing general underwriter Motion Specialty on Monday, supported by U.S. broker Johnson & Johnson. In a statement, Motion said it has received Lloyd's cover...Reuters
Mon, May 19
Other
Lockton appoints Gaffigan as US market strategy and engagement group leader
By Isha MaratheMay 19 - (The Insurer) - Lockton has appointed Vince Gaffigan, former risk consulting leader at the company, as its U.S. market strategy and engagement group leader.Gaffigan has over 35 years of experience in the industry. He first joined Lockton in 2000 as executive vice president, ...Reuters
Mon, May 19
Stocks
Piper Sandler upgrades Solventum on strong execution, consistent beats
** Piper Sandler upgrades medical device maker Solventum SOLV.N to "overweight" from "neutral", raises PT to $87 from $78** New PT implies 14.8% upside to stock's last close** Brokerage says co has shown strong execution, with four quarters of clean beats and slight guidance rais...Reuters
Mon, May 19
Commodities
Russia initiates dispute consultations on EU's carbon border adjustment package, WTO says
May 19 (Reuters) - The World Trade Organization on Monday said that Russia has requested WTO dispute consultations with the European Union and member states concerning EU's "Carbon Border Adjustment Mechanism Package".Reuters
Mon, May 19
Stocks
Apple remains under-owned vs. peers, Meta still over-held - Morgan Stanley
Investing.com -- Apple remains the most under-owned mega-cap tech stock among large institutions, while Meta (NASDAQ:META) continues to be over-held, according to Morgan Stanley’s latest analysis of fInvesting.com
Mon, May 19
Other
Chubb names Boroughs as vice chairman and Hogan as CIO
By Mia MacGregorMay 19 - (The Insurer) - Chubb has promoted Tim Boroughs to vice chairman, as well as executive chairman of asset management, and Chris Hogan to senior vice president and chief investment officer (CIO), reporting to Boroughs.Boroughs has served as CIO of Chubb and its predecessor com...Reuters
Mon, May 19
Forex
FOREX-Dollar retreats on US ratings downgrade; trade tensions persist
Dollar dips to more than one-week low vs yen, euro, Swiss francUS trade tensions simmer, FT reports thaw with EUBessent warns nations not negotiating 'in good faith'UK-EU defense and trade ties 'reset'By Lucy Raitano and Gertrude Chavez-Dreyfuss LONDON/NEW YORK, May 19 (Reuters) -...Reuters
Mon, May 19
Other
TREASURIES-Longer-dated yields rise on fiscal fears after Moody's downgrade
Long-dated yields rise on concerns about fiscal outlookTrump's tax bill passes congressional committeeMoody's cuts US rating from top "Aaa"By Karen Brettell NEW YORK, May 19 (Reuters) - Longer-dated Treasury yields rose on Monday with the 30-year yield hitting an 18-month high on ...Reuters
Mon, May 19
Other
EXCLUSIVE-Nippon Steel to invest $14 billion in U.S. Steel including $4 billion for new mill, document says
Nippon Steel raises investment pledge for U.S. Steel in last ditch appeal to win US approval-document, sourcesNippon's $14 bln investment pledge includes $4 bln for a new steel mill, document saysDeal has faced opposition from both Biden and TrumpFresh national security review due on May 21 By A...Reuters
Mon, May 19
Other
The Mutual Group names Houston chief growth officer
By Mia MacGregorMay 19 - (The Insurer) - The Mutual Group has appointed Peter Houston to the newly created role of chief growth officer and head of corporate development. Houston joins from Keefe Bruyette & Woods, a specialist investment bank serving the financial services and fintech sectors, w...Reuters
Mon, May 19
Stocks
Bath and Body Works CEO Gina Boswell steps down, shares fall
** Beauty and skincare firm Bath & Body Works shares down 1.6% at $33.20 ** CEO Gina Boswell to step down immediately after leading the firm since 2022** BBWI names former Nike's chief strategy and transformation officer Daniel Heaf as its new CEO effective immediately** In Ma...Reuters
Mon, May 19
Other
Capital Economics: BoC poised for deeper rate cuts amid housing, factory weakness
Investing.com -- Signs show that U.S. tariffs are finally weakening the Canadian economy, increasing the likelihood of Bank of Canada interest rate cuts at an aggressive pace, says Capital Economics.Investing.com
Mon, May 19
Stocks
Oil firms fall as Moody's downgrades US credit rating, slow growth in China
** S&P 500 energy index .SPNY down 2.2%, tracking prices of oil O/R** Brent crude futures LCOc1 down 0.2% at $65.27/barrel, U.S. West Texas Intermediate crude CLc1 fall 0.1%, to $62.45/barrel** Oil prices fell after Moody's downgraded the U.S. sovereign credit rating and official data showed...Reuters
Mon, May 19
Other
Reagan: US insurance broker organic growth slows to 7.9% in Q1
By Michael LoneyMay 19 - (The Insurer) - U.S. insurance brokers recorded lower organic revenue growth in Q1 compared to the same period last year, while the number of M&A deals was also down in the quarter, Reagan Consulting said.In its latest quarterly update, Reagan said that Q1’s 7.9% growth ...Reuters
Mon, May 19
