Underwriting

Best’s Market Segment Report: AM Best Revises Outlook on South Korea’s Non- Life Insurance Market to Negative Amid COVID-19 Pandemic

Retrieved on: 
Thursday, May 28, 2020
Insurance, Professional services, Economy, Insurance, Finance, Actuarial science, Types of insurance, Insurance industry, Underwriting, Vehicle insurance, General insurance

AM Best has revised its market segment outlook to negative from stable on South Koreas insurance industrys non-life insurance sector.

Key Points: 
  • AM Best has revised its market segment outlook to negative from stable on South Koreas insurance industrys non-life insurance sector.
  • A new Bests Market Segment Report, titled, Market Segment Outlook: South Korea, Non-Life, states that South Koreas non-life insurance segment went through a difficult year in 2019, particularly in terms of underwriting performance.
  • The main cause of the poor results was the increased loss ratio for the automobile insurance segment and worse-than-expected profitability in the long-term insurance line.
  • Although the stock market has partially recovered from bottoming out in mid-March, it has not fully recovered to pre-pandemic levels.

Iovance Biotherapeutics, Inc. Announces Proposed Public Offering of Common Stock

Retrieved on: 
Wednesday, May 27, 2020
Finance, Financial markets, Money, Stock market, Initial public offering, Corporate finance, Underwriting, Goldman Sachs, Subprime mortgage crisis, Jefferies Group, Stock, Greenshoe

All of the shares in the offering are to be sold by Iovance.

Key Points: 
  • All of the shares in the offering are to be sold by Iovance.
  • Iovance intends to grant the underwriters a 30-day option to purchase up to $75 million of additional sharesof common stock at the public offering price, less the underwriting discounts and commissions.
  • Jefferies LLC and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering.
  • The forward-looking statements include, but are not limited to, statements about the Companys anticipated public offering and the anticipated use of proceeds therefrom.

Dynavax Technologies Announces Closing of $80.5 Million Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Retrieved on: 
Wednesday, May 27, 2020
Finance, Money, Underwriting, Investment banks, Actuarial science, Evercore, NET, Economy

The gross proceeds to Dynavax from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Dynavax, were approximately $80.5 million.

Key Points: 
  • The gross proceeds to Dynavax from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Dynavax, were approximately $80.5 million.
  • Cowen, Evercore ISI and William Blair acted as joint book-running managers for the offering.
  • H.C. Wainwright & Co. acted as co-manager for the offering.
  • This press release contains forward-looking statements, including statements related to the expectations regarding the anticipated use of the net proceeds.

Inari Medical Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

Retrieved on: 
Wednesday, May 27, 2020
Deities, Underwriting, Actuarial science, Shinto, Inari Ōkami, Inari, NASDAQ, Finance

The gross proceeds to Inari, before deducting underwriting discounts and commissions and offering expenses, were approximately $179.2 million.

Key Points: 
  • The gross proceeds to Inari, before deducting underwriting discounts and commissions and offering expenses, were approximately $179.2 million.
  • Inaris common stock is listed on the Nasdaq Global Select Market under the symbol "NARI."
  • BofA Securities and Morgan Stanley acted as joint lead bookrunning managers for the offering.
  • Inari Medical, Inc. is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases.

Traders Insurance Selects Cloverleaf Analytics

Retrieved on: 
Wednesday, May 27, 2020
Economy, Finance, Money, Business intelligence, Insurance, Insurance industry, Underwriting, Analytics

AUSTIN, Texas, May 27, 2020 (GLOBE NEWSWIRE) -- Cloverleaf Analytics (Cloverleaf) , an insurance-ready, enterprise business intelligence (BI) and analytics solution provider, is pleased to announce Traders Insurance (Traders) has selected the Cloverleaf business intelligence (BI) solution to enhance real-time data capabilities which will allow faster, more efficient underwriting and claims resolution.

Key Points: 
  • AUSTIN, Texas, May 27, 2020 (GLOBE NEWSWIRE) -- Cloverleaf Analytics (Cloverleaf) , an insurance-ready, enterprise business intelligence (BI) and analytics solution provider, is pleased to announce Traders Insurance (Traders) has selected the Cloverleaf business intelligence (BI) solution to enhance real-time data capabilities which will allow faster, more efficient underwriting and claims resolution.
  • A Kansas City, Missouri-based insurance company, Traders has been a pioneer in the specialty auto insurance field offering affordable insurance policies to cost-conscious individuals and families in Arkansas, Kansas, Oklahoma and Missouri.
  • Contrary to popular wisdom, price isnt the only differentiator in the auto insurance market today, said Mark Concannon, CEO of Traders.
  • Cloverleaf Analytics (Cloverleaf) delivers a comprehensive business intelligence (BI) solution which reduces risk and improves profitability and performance for P&C insurance companies.

On-Demand Insurance arrives in Brazil, powered by Trov & Sura

Retrieved on: 
Wednesday, May 27, 2020
Economy, Finance, Money, Actuarial science, Insurance, Insurance industry, Underwriting

Recent regulatory changes advocated by SUSEP, have enabled insurers to offer on-demand insurance products to consumers and businesses in Brazil.

Key Points: 
  • Recent regulatory changes advocated by SUSEP, have enabled insurers to offer on-demand insurance products to consumers and businesses in Brazil.
  • Trov's world leading insurance technology platform will enable SURA to underwrite robust all-digital P&C insurance applications branded by Brazil's most prominent financial institutions and consumer platforms.
  • Trov and SURA will begin by launching a flexible on-demand insurance product for personal valuables and mobility, and expand to other insurance products such as auto, home and small business.
  • "SURA is an immensely innovative underwriter with the ambition to offer modern, customer-centric insurance experiences," commented Scott Walchek, CEO/Founder of Trov.

AXA XL to launch first-of-its-kind Construction Ecosystem to provide contractors in-depth insight of jobsite & operational risks

Retrieved on: 
Wednesday, May 27, 2020
Economy, Finance, Service industries, Systems ecology, AXA, CAC 40, Underwriting, Axa XL, Insurance, Ecosystem, General contractor

Starting in June, a number of current customers will have exclusive access to the Construction Ecosystem and have signed on to utilize and provide initial feedback on the platform.

Key Points: 
  • Starting in June, a number of current customers will have exclusive access to the Construction Ecosystem and have signed on to utilize and provide initial feedback on the platform.
  • According to Gary Kaplan, president of AXA XL's North America Construction business, "The construction industry may have a reputation of being slow to adapt to technology, but that's about to change.
  • AXA XL's Construction Ecosystem has the capability to provide contractors with all-in-one access to a wide-range of information such as:
    "Insurance has always relied on data to make our underwriting decisions.
  • Our Construction Ecosystem allows us and our clients to collect, share and act on more information than we've ever had before.

Calyx Introduces Zenly

Retrieved on: 
Wednesday, May 27, 2020
Economy, Finance, Money, Loans, Mortgage broker, Mortgage bank, Mortgage loan, Fannie Mae, Correspondent lender, Underwriting, Mortgage industry of the United States, Mortgage underwriting in the United States

DALLAS, May 27, 2020 (GLOBE NEWSWIRE) -- Calyx, a leading provider of comprehensive mortgage software solutions for banks, credit unions, brokers, mortgage bankers, wholesale and correspondent lenders, announced today a new, cloud-based origination platform, Zenly, that can be purchased and operational in 15 minutes.

Key Points: 
  • DALLAS, May 27, 2020 (GLOBE NEWSWIRE) -- Calyx, a leading provider of comprehensive mortgage software solutions for banks, credit unions, brokers, mortgage bankers, wholesale and correspondent lenders, announced today a new, cloud-based origination platform, Zenly, that can be purchased and operational in 15 minutes.
  • Zenly also includes seamless loan submission to Fannie Maes Desktop Originator (DO) Through DO, sponsored mortgage brokers have access to the automated underwriting system, Desktop Underwriter (DU).
  • Zenly is designed for brokers who want simplicity, convenience and speed for their borrowers, themselves and their lender partners, said Patrice Power, Marketing Director at Calyx.
  • Combined with its extensive network of integrated partners, Calyx products deliver a true digital mortgage solution that maximizes profitability and enhances the customer experience.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Hallmark Financial Services, Inc. - HALL

Retrieved on: 
Wednesday, May 27, 2020
Abraham Pomerantz, Pomerantz, Underwriting

NEW YORK, May 27, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Hallmark Financial Services, Inc. (Hallmark or the Company) (NASDAQ:HALL).

Key Points: 
  • NEW YORK, May 27, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Hallmark Financial Services, Inc. (Hallmark or the Company) (NASDAQ:HALL).
  • Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext.
  • On March 2, 2020, Hallmark Financial announced its decision to exit from its Binding Primary Commercial Auto business and reported a $63.8 million loss development for prior underwriting years.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions.

Atara Biotherapeutics Announces Pricing of $175.5 Million Public Offering

Retrieved on: 
Wednesday, May 27, 2020
FDA, Health, Other Health, Pharmaceutical, Stem cells, Oncology, Other Science, Research, General Health, Hospitals, Genetics, Science, Clinical trials, Nursing, Finance, Initial public offering, Financial economics, Money, Corporate finance, Actuarial science, Underwriting, Genuity, Public offering, Atara

The aggregate gross proceeds from the offering are expected to be approximately $175.5 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Atara Biotherapeutics.

Key Points: 
  • The aggregate gross proceeds from the offering are expected to be approximately $175.5 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Atara Biotherapeutics.
  • The offering is expected to close on or about May 29, 2020, subject to customary closing conditions.
  • In connection with the offering, Atara Biotherapeutics has granted the underwriters a 30-day option to purchase up to an additional 2,325,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions.
  • Mizuho Securities is acting as lead manager and Canaccord Genuity is acting as co-manager for the offering.