Ambac Financial Group, the US-based insurance holding company, has agreed to acquire a 60% controlling stake in Beat Capital Partners, the specialist insurance underwriting and managing general agency incubator, for $282m (£220.6m). Up to $40m of this will be paid in shares of Ambac common stock. The remainder will be paid in cash and is … Read more
Allianz Commercial has teamed up with ProMarine on a multi-product strategic underwriting and claims delegated authority agreement. ProMarine, a specialised managing general agent and subsidiary of Canopy Specialty International, will underwrite and handle claims on behalf of Allianz Commercial. The long-term collaboration targets the smaller commercial marine industry and vessel risks in the UK, Ireland … Read more
Issued on: 06/06/2024 – 11:39 As the world marks the 80th anniversary of the D-Day landings, the historic moment is also remembered as a catalyst for the turning of economic tides. A series of post-war events and decisions such as the Bretton Woods Conference heralded a new era for economic cooperation and financial order. We … Read more
Meta’s new artificial-intelligence project faces complaints from a privacy-focused advocacy group in eleven European countries, highlighting the challenges for big technology as it turns to users’ data to train its AI tools. Source link
Remy Cointreau expects efforts to clear out excess inventory in the U.S. to stretch into its new fiscal year amid a market slowdown, as the company seeks to pave the way for a return to sales growth. Source link