Consulting

AM Best Downgrades Credit Ratings of Trans City Casualty Insurance Company and Trans-City Life Insurance Company

Friday, June 11, 2021 - 6:03pm

AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to bbb+ (Good) from a- (Excellent) for Trans City Casualty Insurance Company (TCC) and Trans-City Life Insurance Company (TCL).

Key Points: 
  • AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to bbb+ (Good) from a- (Excellent) for Trans City Casualty Insurance Company (TCC) and Trans-City Life Insurance Company (TCL).
  • The outlook of these Credit Ratings (ratings) has been revised to stable from negative.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

AM Best Affirms Credit Ratings of MS Amlin AG and Lloyd’s Syndicate 2001

Friday, June 11, 2021 - 5:41pm

AM Best has affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term Issuer Credit Ratings of a+ (Excellent) of MS Amlin AG (Switzerland), and Lloyds Syndicate 2001 (Syndicate 2001) (United Kingdom), which is managed by MS Amlin Underwriting Limited.

Key Points: 
  • AM Best has affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term Issuer Credit Ratings of a+ (Excellent) of MS Amlin AG (Switzerland), and Lloyds Syndicate 2001 (Syndicate 2001) (United Kingdom), which is managed by MS Amlin Underwriting Limited.
  • MS Amlin AG is a mid-tier reinsurer with gross written premium of CHF 1.4 billion (USD 1.6 billion) in 2020.
  • MS Amlin AG and Syndicate 2001 are the key operating subsidiaries of Mitsui Sumitomo Insurance Company, Limited (MSI) in Europe.
  • MS Amlin AG and Syndicate 2001 reported underwriting losses in 2020 with combined ratios, as calculated by AM Best, of 106.7% and 118.8%, respectively.

KBRA Releases RMBS Credit Indices (KCI) for May 2021

Friday, June 11, 2021 - 4:29pm

Kroll Bond Rating Agency (KBRA) releases its RMBS Credit Indices (KCI) for May 2021.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases its RMBS Credit Indices (KCI) for May 2021.
  • The indices track early-, mid-, and late-stage delinquencies, observed modifications, prepayment speeds, and other performance metrics across four major RMBS 2.0 subsectors.
  • KBRA includes modified (%) in its RMBS KCIs, which represents the portion of loans for each deal that Intex reports as having a modification or suspected modification.
  • KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada.

Grant Thornton Partner Doreen Griffith named a ‘Most Inspiring Leader’ by Dallas Business Journal

Friday, June 11, 2021 - 3:30pm

Doreen Griffith, Grant Thornton LLPs Dallas office managing partner, has been named one of the 2021 Most Inspiring Leaders by the Dallas Business Journal.

Key Points: 
  • Doreen Griffith, Grant Thornton LLPs Dallas office managing partner, has been named one of the 2021 Most Inspiring Leaders by the Dallas Business Journal.
  • As the firms Dallas office managing partner, Griffith uses her extensive business acumen to drive Grant Thorntons strategic objectives and growth initiatives in the Dallas market.
  • Doreen is a proven leader and trusted advisor who puts her teams and clients first, said Nichole Jordan, Central region managing partner at Grant Thornton.
  • Grant Thornton refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL).

Colombier Acquisition Corp. Completes $150 Million Initial Public Offering

Friday, June 11, 2021 - 3:04pm

Colombier Acquisition Corp. (the Company) announced today the closing of its initial public offering of 15,000,000 units.

Key Points: 
  • Colombier Acquisition Corp. (the Company) announced today the closing of its initial public offering of 15,000,000 units.
  • The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
  • Each unit consists of one share of the Companys Class A common stock and one-third of one warrant.
  • This press release contains statements that constitute forward-looking statements, including with respect to the proposed initial public offering and the anticipated use of the net proceeds.

Brit + Co Launches Selfmade Season Four in Collaboration with Office Depot

Friday, June 11, 2021 - 2:00pm

Brit + Co and Office Depot today announced that Office Depot will continue to provide opportunities for female entrepreneurs with the companys sponsorship of the fourth cohort of Selfmade , Brit + Cos 10-week virtual startup school for women.

Key Points: 
  • Brit + Co and Office Depot today announced that Office Depot will continue to provide opportunities for female entrepreneurs with the companys sponsorship of the fourth cohort of Selfmade , Brit + Cos 10-week virtual startup school for women.
  • Were happy to continue our collaboration with Brit + Co to help provide women an opportunity to turn their passion projects into businesses and take their existing businesses to new heights, said Wesley Brinkhurst, vice president of marketing for Office Depot.
  • For more information on Selfmade visit, TrySelfmade.com and click here to hear from past program participants.
  • Founded by Brit Morin, Brit + Co is on a mission to give women the courage and creativity to live life at their fullest potential.

SoFi Announces Election of Ruzwana Bashir to its Board of Directors

Friday, June 11, 2021 - 2:00pm

SoFi announced today the election of Ruzwana Bashir to its Board of Directors.

Key Points: 
  • SoFi announced today the election of Ruzwana Bashir to its Board of Directors.
  • We are thrilled to have Ruzwana join our Board, said Tom Hutton, chairman of the Board.
  • She will be instrumental in helping our Board and management deliver on our mission of helping SoFi members achieve financial independence.
  • SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.

Accenture Receives Three ‘Partner of the Year’ Awards From Adobe

Friday, June 11, 2021 - 12:59pm
Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20210611005077/en/
    Accenture receives Partner of the Year Awards from Adobe.
  • Notably, Accenture and Adobe Workfront co-developed and launched the Adobe Workfront + Veeva Vault PromoMats integrated solution for the Life Sciences industry.
  • Historically unveiled at Adobe Summit and Workfront Leap, Adobes partner awards were shared virtually as part of the Adobe Summit online experience.
  • Accenture has been an Adobe partner since 2002 and has more than 3,500 Adobe experts around the globe leveraging Adobe Experience Cloud applications to solve business challenges for clients.

JMP Group Divests Interest in Harvest Capital Credit Corporation

Friday, June 11, 2021 - 11:45am

JMP Group LLC (NYSE: JMP ), an investment banking and alternative asset management firm, announced today that Harvest Capital Credit Corporation, a business development company previously externally managed by JMP Group subsidiary HCAP Advisors, has been acquired by Portman Ridge Finance Corporation.

Key Points: 
  • JMP Group LLC (NYSE: JMP ), an investment banking and alternative asset management firm, announced today that Harvest Capital Credit Corporation, a business development company previously externally managed by JMP Group subsidiary HCAP Advisors, has been acquired by Portman Ridge Finance Corporation.
  • Harvest Capital Credit Corporation had been listed on Nasdaq under the symbol HCAP.
  • The aggregate value of the cash and stock received in exchange for JMP Groups investment in Harvest Capital Credit Corporation was approximately $9.7 million.
  • JMP Group conducts its investment banking and research, sales and trading activities through JMP Securities and its venture capital and private capital activities through Harvest Capital Strategies and JMP Asset Management.

Worldwide Server Market Revenue Grew 12.0% Year Over Year in the First Quarter of 2021, According to IDC

Friday, June 11, 2021 - 1:00am

* IDC declares a statistical tie in the worldwide server market when there is a difference of one percent or less in the share of revenues or shipments among two or more vendors.

Key Points: 
  • * IDC declares a statistical tie in the worldwide server market when there is a difference of one percent or less in the share of revenues or shipments among two or more vendors.
  • IDC's Server Taxonomy maps the eleven price bands within the server market into three price ranges: volume servers, midrange servers and high-end servers.
  • The revenue data presented in this release is stated as vendor revenue for a server system.
  • IDC's Worldwide Quarterly Server Tracker is a quantitative tool for analyzing the global server market on a quarterly basis.