MGT

MGT Insurance Welcomes Zachary Kruth as COO, Names Niall Fitzgerald as Head of New Verticals

Retrieved on: 
Tuesday, January 9, 2024

MGT Insurance , a tech-enabled risk solutions platform focused on the commercial property and casualty (P&C) market, proudly announces the appointments of Zachary Kruth as Chief Operating Officer (COO) and Niall Fitzgerald as Head of New Verticals.

Key Points: 
  • MGT Insurance , a tech-enabled risk solutions platform focused on the commercial property and casualty (P&C) market, proudly announces the appointments of Zachary Kruth as Chief Operating Officer (COO) and Niall Fitzgerald as Head of New Verticals.
  • As COO of MGT Insurance, Kruth will implement strategies that enhance customer satisfaction, drive growth, and strengthen the company’s competitive position through investments in technology and people.
  • Prior to MGT, Kruth held senior roles leading the strategic growth and operations of prominent technology companies such as Newfront Insurance, Collective Health and EarnUp.
  • “I am thrilled to join MGT Insurance, an organization leading the charge in elevating the insurance industry and delivering a better experience,” said Kruth.

Mullen Announces Randy Marion Automotive Group Receives N.C. License for Retailing Mullen Electric Vehicles

Retrieved on: 
Thursday, November 16, 2023

BREA, Calif., Nov. 16, 2023 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces Randy Marion Automotive Group (“RMA”) has received its North Carolina license to retail Mullen’s commercial EVs. This required dealer license in combination with Mullen’s previously received OEM license allows the movement of vehicles to customers.

Key Points: 
  • This required dealer license in combination with Mullen’s previously received OEM license allows the movement of vehicles to customers.
  • All vehicles sold in the U.S. are currently distributed through Mullen’s retail dealership partner, Randy Marion Automotive Group.
  • “We are receiving tremendous interest in both Mullen’s Class 1 and Class 3 vehicles.
  • We fully expect to accomplish our production and delivery goals for 2023,” said David Michery, CEO and chairman of Mullen Automotive.

MGT Insurance Achieves Rapid Growth, Sustained Profitability and A- Rating from AM Best Following Launch

Retrieved on: 
Tuesday, November 28, 2023

MGT Insurance , a tech-enabled risk solutions platform focused on the commercial property and casualty (P&C) market, today announced its momentum in the insurance sector, marked by consistent profitability, strong growth, and an A- rating from AM Best .

Key Points: 
  • MGT Insurance , a tech-enabled risk solutions platform focused on the commercial property and casualty (P&C) market, today announced its momentum in the insurance sector, marked by consistent profitability, strong growth, and an A- rating from AM Best .
  • MGT Insurance continues to gain traction following last month’s announcement of its completed acquisition of CM Select Insurance Company , from Church Mutual Holding Company Inc. AM Best's A- rating signifies the company’s financial strength and commitment to financial excellence, underscoring its reliability as a trusted insurance provider.
  • “Our A- rating is not just a mark of financial strength and stability; it’s a nod to our pursuit of excellence in the industry,” said Michael Topol , co-founder and co-CEO of MGT Insurance.
  • “Our success is a testament to our exceptional team,” said Graham Topol , co-founder and co-CEO of MGT Insurance.

AM Best Assigns Credit Ratings to CM Select Insurance Company Under New Ownership

Retrieved on: 
Wednesday, November 22, 2023

AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to CM Select Insurance Company (CM Select) (Merrill, WI), which is under new ownership.

Key Points: 
  • AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to CM Select Insurance Company (CM Select) (Merrill, WI), which is under new ownership.
  • Concurrently, AM Best has withdrawn the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of CM Select Insurance Company (Merrill, WI); ratings that were influenced by CM Select’s prior ownership.
  • At the time of the withdrawal, CM Select Insurance Company’s prior ratings were under review with negative implications following the announcement that MGT Partners LLC would be acquiring CM Select Insurance Company from Church Mutual earlier in the year.
  • MGT Partners LLC completed the acquisition of CM Select Insurance Company on Oct. 1, 2023, and the closing has resulted in AM Best withdrawing the entity’s ratings.

Pirelli: From classic to modern, new tyres for Maserati GTs

Retrieved on: 
Monday, October 30, 2023

MILAN, Italy, Oct. 30, 2023 (GLOBE NEWSWIRE) -- From the first Biturbo, launched in 1982 with the Cinturato P7, to the all-electric GranTurismo Folgore fitted with P Zero Elect tyres, Pirelli's tyres have been a part of Maserati GTs.

Key Points: 
  • MILAN, Italy, Oct. 30, 2023 (GLOBE NEWSWIRE) -- From the first Biturbo, launched in 1982 with the Cinturato P7, to the all-electric GranTurismo Folgore fitted with P Zero Elect tyres, Pirelli's tyres have been a part of Maserati GTs.
  • Today, Pirelli offers bespoke original equipment for the hallmark cars of this tradition: P Zero and P Zero Elect for the Maserati GranTurismo and GranTurismo Folgore, respectively.
  • All these tyres have been developed in collaboration with Maserati, as indicated by the MGT marking on their sidewalls.
  • It was the Biturbo, a high-performance compact coupe that was originally fitted with Pirelli Cinturato P7 tyres.

CCC, StandardAero win contract to repair U.S. Navy engines

Retrieved on: 
Wednesday, October 18, 2023

StandardAero is a leading provider of Maintenance Repair and Overhaul (MRO) services for both commercial and military aircraft and an approved RRMNA Authorized Maintenance, Repair & Overhaul Center (AMROC) for the M250 family of engines.

Key Points: 
  • StandardAero is a leading provider of Maintenance Repair and Overhaul (MRO) services for both commercial and military aircraft and an approved RRMNA Authorized Maintenance, Repair & Overhaul Center (AMROC) for the M250 family of engines.
  • In the past 20 years, StandardAero has been awarded over $159 million USD in CCC contracts for MRO services for the United States Air Force, Navy and Army.
  • To learn more about how to sell to the U.S. DoD or to buy from Canada, contact the CCC team.
  • “StandardAero has a long history of delivering maintenance, repair and overhaul services for military engines around the world and CCC is pleased to partner with them to support U.S. DoD needs.” – Diane Montambault, VP of Operations, CCC.

MGT Partners Acquires CM Select Insurance Company

Retrieved on: 
Wednesday, October 4, 2023

MGT Partners LLC, a privately owned organization backed by experienced insurance executives and investors, announced today that it has acquired CM Select Insurance Company (CM Select) from Church Mutual Holding Company Inc. (Church Mutual)1, a leading insurer of religious organizations in the U.S.

Key Points: 
  • MGT Partners LLC, a privately owned organization backed by experienced insurance executives and investors, announced today that it has acquired CM Select Insurance Company (CM Select) from Church Mutual Holding Company Inc. (Church Mutual)1, a leading insurer of religious organizations in the U.S.
    Subject to approval of regulatory filings, CM Select will be rebranded as MGT Insurance and operate as a tech-enabled risk solutions platform focused on the commercial property and casualty (P&C) market.
  • “Our mission behind MGT Insurance is simple – we want to make commercial P&C insurance easy and efficient by leveraging data and technology to eliminate unnecessary steps and streamline the process on the back end,” said Graham Topol , co-founder and co-CEO of MGT Insurance.
  • We look forward to working with the amazing team at CM Select, continuing the great work they’re doing, and helping more people get the insurance they need.”
    Founded in 2017, CM Select is an insurance carrier that provides commercial property and casualty insurance to smaller religious and non-profit organizations.
  • MGT will be an excellent steward of CM Select and we look forward to a very successful partnership.”
    Terms of the transaction were not disclosed.

JIOS Aerogel® Secures New Investment from MegaChem to Fund its Aerogel and Thermal Blade® Plants

Retrieved on: 
Monday, September 18, 2023

The funding will support JIOS Aerogel's two plants in Southeast Asia: its aerogel production facility and its new Singapore site for fully automated production of its Thermal Blade®.

Key Points: 
  • The funding will support JIOS Aerogel's two plants in Southeast Asia: its aerogel production facility and its new Singapore site for fully automated production of its Thermal Blade®.
  • Stephen Kang, Co-Founder and Managing Director of JIOS Aerogel, enthusiastically expressed, "We are thrilled to welcome MGT and MegaChem as investors, further bolstering the burgeoning aerogel market within the electric vehicle battery industry.
  • JIOS Aerogel's cutting-edge breakthrough, the Thermal Blade®, leverages the exceptional properties of aerogels to deliver superior thermal protection for battery cells, significantly enhancing their safety and performance.
  • Mr Sidney Chew, Managing Director of MegaChem, also expressed his enthusiasm, saying, "JIOS Aerogel has demonstrated the effectiveness of their distinctive and cost-efficient approach to aerogel manufacturing.

JIOS Aerogel® Secures New Investment from MegaChem to Fund its Aerogel and Thermal Blade® Plants

Retrieved on: 
Monday, September 18, 2023

The funding will support JIOS Aerogel's two plants in Southeast Asia: its aerogel production facility and its new Singapore site for fully automated production of its Thermal Blade®.

Key Points: 
  • The funding will support JIOS Aerogel's two plants in Southeast Asia: its aerogel production facility and its new Singapore site for fully automated production of its Thermal Blade®.
  • Stephen Kang, Co-Founder and Managing Director of JIOS Aerogel, enthusiastically expressed, "We are thrilled to welcome MGT and MegaChem as investors, further bolstering the burgeoning aerogel market within the electric vehicle battery industry.
  • JIOS Aerogel's cutting-edge breakthrough, the Thermal Blade®, leverages the exceptional properties of aerogels to deliver superior thermal protection for battery cells, significantly enhancing their safety and performance.
  • Mr Sidney Chew, Managing Director of MegaChem, also expressed his enthusiasm, saying, "JIOS Aerogel has demonstrated the effectiveness of their distinctive and cost-efficient approach to aerogel manufacturing.

Mullen Commemorates Start of Class 3 Vehicle Production with Successful Commercial EV Launch Event

Retrieved on: 
Thursday, August 24, 2023

(NASDAQ: MULN ) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer announces that it held its first Tunica open house event today, highlighting its first Class 3 EV trucks rolling off the assembly line.

Key Points: 
  • (NASDAQ: MULN ) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer announces that it held its first Tunica open house event today, highlighting its first Class 3 EV trucks rolling off the assembly line.
  • In addition to a facility tour, the event featured a company presentation and test drives for Class 1 and Class 3 commercial vehicles.
  • During the ramp up in volume of the Mullen THREE, the production testing and launch of the Mullen ONE, Class 1 EV Cargo Van will also take place in Tunica, achieving deliveries on customer orders for both commercial Class 1 and Class 3 vehicles by year end.
  • Mullen has been aggressively growing employee count in Tunica over the last few months to support commercial vehicle production.