Reinsurance

 Everest Announces Leadership Promotions in Reinsurance Division

Retrieved on: 
Thursday, February 22, 2024

Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions has announced the promotion of two key leaders in the Reinsurance Division, both effective immediately.

Key Points: 
  • Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions has announced the promotion of two key leaders in the Reinsurance Division, both effective immediately.
  • Jill Beggs has been promoted to Reinsurance EVP and Chief Operating Officer of the Division.
  • She will continue to report to Jim Williamson, Everest Group COO and Head of Reinsurance.
  • Mr. Voralia joined Everest in 2022 as Reinsurance Head of Treaty Casualty & Surety, bringing more than two decades of diverse reinsurance experience to his role.

Granite Reports Fourth Quarter and FY 2023 Results

Retrieved on: 
Thursday, February 22, 2024

Granite Construction Incorporated (NYSE: GVA) today announced results for the quarter and year ended December 31, 2023.

Key Points: 
  • Granite Construction Incorporated (NYSE: GVA) today announced results for the quarter and year ended December 31, 2023.
  • Gross profit decreased $3 million to $94 million compared to $97 million for the same period in the prior year.
  • “Across the Company, our teams had an outstanding fourth quarter,” said Kyle Larkin, Granite President and Chief Executive Officer.
  • Looking back on 2023, it was a transformative year for Granite as we delivered on our strategic plan.

Synexis® LLC. Introduces Sentry XL, Expanding Indoor Environmental Quality Solutions

Retrieved on: 
Wednesday, March 6, 2024

LENEXA, Kan., March 6, 2024 /PRNewswire/ -- Synexis is excited to introduce the Sentry XL, our latest product designed to offer exceptional performance and expanded coverage, transforming the way we experience living and working in larger occupied spaces.

Key Points: 
  • The Sentry XL joins the Synexis portfolio of Indoor Environmental Quality (IEQ) devices using a patented and advanced technology to continuously combat harmful pathogens in the air and on surfaces.
  • "We are excited to introduce the Sentry XL as the latest addition to our expanding product portfolio.
  • Key Features of the Sentry XL:
    Maximum Coverage: Effectively safeguards indoor areas of up to 3,000 square feet.
  • Robust Design: Crafted from high-quality materials, the Sentry XL is housed in a stainless-steel and aluminum frame, ensuring durability and reliability in challenging indoor conditions.

AXA XL's U.S. Mid-Market insurance business rolls out XL Plus, a GL broadening endorsement for mid-size businesses

Retrieved on: 
Monday, February 26, 2024

BOSTON , Feb. 26, 2024 /PRNewswire/ -- AXA XL's U.S. Mid-Market insurance business is extending its general liability coverage for mid-size businesses with its new XL Plus broadening endorsement offering more than two dozen expanded protections.

Key Points: 
  • BOSTON , Feb. 26, 2024 /PRNewswire/ -- AXA XL's U.S. Mid-Market insurance business is extending its general liability coverage for mid-size businesses with its new XL Plus broadening endorsement offering more than two dozen expanded protections.
  • According to Chris Fallon, Head of U.S. Mid-Market Product & Analytics, "Unexpected events –an on-site injury, a contract dispute, a costly lawsuit - impact businesses of all sizes.
  • That's why we are continuously reviewing our coverage to ensure it adequately addresses the constantly evolving risks our mid-size clients are facing.
  • The team currently underwrites private equity and general industry insurance business and is building a dedicated underwriting team to address mid-size construction businesses' insurance needs.

Ultra Clean Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Wednesday, February 21, 2024

HAYWARD, Calif., Feb. 21, 2024 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the fourth quarter and full year ended December 29, 2023.

Key Points: 
  • HAYWARD, Calif., Feb. 21, 2024 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the fourth quarter and full year ended December 29, 2023.
  • "UCT executed well in the fourth quarter with results coming in as expected despite a dynamic business environment," said Jim Scholhamer, CEO.
  • "We are pleased with the execution of our plan to optimize our capital deployment strategy throughout 2023," said Sheri Savage, CFO.
  • Total gross margin was 16.0%, operating margin was 1.0%, and net loss was $(3.8) million or $(0.08) per diluted share.

HUGOTON ROYALTY TRUST DECLARES NO FEBRUARY CASH DISTRIBUTION

Retrieved on: 
Friday, February 16, 2024

However, after the partial recovery, there were no remaining proceeds from the properties underlying the Oklahoma net profits interests to be included in the current month's distribution.

Key Points: 
  • However, after the partial recovery, there were no remaining proceeds from the properties underlying the Oklahoma net profits interests to be included in the current month's distribution.
  • XTO Energy has estimated the amount to be approximately $14.6 million (net to the Trust).
  • As of the date hereof, $9.1 million underlying ($7.3 million net to the Trust) in development costs have been charged to the Trust for the three non-operated wells.
  • For more information on the Trust, including the annual tax information, distribution amounts, and historical press releases, please visit our website at www.hgt-hugoton.com .

Employers Holdings, Inc. Reports Fourth Quarter 2023 and Full-Year Financial Results; Declares Quarterly Cash Dividend of $0.28 per Share

Retrieved on: 
Thursday, February 15, 2024

Chief Executive Officer Katherine Antonello commented: “We are thrilled with our fourth quarter and full-year 2023 results.

Key Points: 
  • Chief Executive Officer Katherine Antonello commented: “We are thrilled with our fourth quarter and full-year 2023 results.
  • Our fourth quarter full reserve study led to the recognition of $24.6 million of net favorable prior year loss reserve development from our voluntary business.
  • Beyond our financial results, we completed a full integration of Cerity’s operations into those of Employers during the fourth quarter.
  • During the fourth quarter of 2023, the Company repurchased 400,334 shares of its common stock at an average price of $38.40 per share.

AM Best Maintains Under Review With Negative Implications Status for Credit Ratings of Universal North America Insurance Company

Retrieved on: 
Wednesday, February 14, 2024

AM Best has maintained the under review with negative implications status for the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Universal North America Insurance Company (UNAIC) (Arlington, TX).

Key Points: 
  • AM Best has maintained the under review with negative implications status for the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Universal North America Insurance Company (UNAIC) (Arlington, TX).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Stallion Uranium Signs Definitive Agreement to Sell Non-Core Uranium Projects in Eastern Athabasca Basin

Retrieved on: 
Tuesday, February 13, 2024

“We are excited to see our three eastern basin projects move into the hands of Glorious, while still being able to benefit from their success.

Key Points: 
  • “We are excited to see our three eastern basin projects move into the hands of Glorious, while still being able to benefit from their success.
  • These projects warrant, and will now receive, a committed uranium exploration program led by the strength of our technical and geological team.
  • All three projects are located in the heart of the world-renowned Eastern Athabasca Basin and hold potential for a high-grade discovery,” stated Drew Zimmerman CEO.
  • Uranium mineralization in the Eastern Athabasca Basin occurs in three deposit types: 1) unconformity-hosted uranium which occur at the contact between the overlying Athabasca Basin and the crystalline basement rocks; 2) basement-hosted uranium which occur within the basement rocks; 3) sandstone-hosted uranium which occur perched in the Athabasca sandstone.

AM Best to Highlight Evolving Trends Impacting Europe Insurers, Reinsurers at Paris Briefing

Retrieved on: 
Tuesday, February 13, 2024

AM Best will deliver analytical perspectives on various global re/insurance industry issues, trends and opportunities that impact France’s insurers and reinsurers, at a market briefing taking place in Paris on 5 March 2024 at Les Salons Hoche.

Key Points: 
  • AM Best will deliver analytical perspectives on various global re/insurance industry issues, trends and opportunities that impact France’s insurers and reinsurers, at a market briefing taking place in Paris on 5 March 2024 at Les Salons Hoche.
  • During AM Best’s Insurance Market Briefing – Paris, financial analysts will discuss Best’s Credit Rating Methodology benchmarks and an overview of rating developments.
  • The programme will be preceded by a guest keynote presentation on shape and trends of the current reinsurance market, by Laurent Rousseau, CEO, EMEA and Global Capital Solutions, Guy Carpenter.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.