P&I

ICE Mortgage Monitor: Trading Up to a 25% More Expensive Home Would More Than Double the Average Mortgage Holder’s Payment

Retrieved on: 
Monday, April 1, 2024
Construction & Property, Data Analytics, Finance, Professional Services, Consumer, Fintech, Other Construction & Property, Residential Building & Real Estate, Research, Intercontinental Exchange, Intercontinental, SAAR, Sale, ICE, City, Housing, P&I, Real estate

There are many headwinds facing the would-be seller in today’s market, making their existing mortgage payment particularly attractive in comparison.

Key Points: 
  • There are many headwinds facing the would-be seller in today’s market, making their existing mortgage payment particularly attractive in comparison.
  • “That average homeowner’s mortgage payment would more than double, to gain just 25% in property value – hardly an entertaining proposition.
  • “After closing out 2023 at an 11-year low, home sales have begun to improve over the last two months,” Walden added.
  • Much more information on these and other topics can be found in this month’s Mortgage Monitor.

Unity insurance facility expanded to cover all shipping to and from Ukrainian ports

Retrieved on: 
Friday, March 1, 2024
Consulting, Maritime, Professional Services, Transport, Insurance, Ship, United, Iron, Grain, Government, DZ Bank, Risk, McLennan, Private sector, Steel, United Nations, Ecosystem, P&I, Pressure, MMC, Partnership

Unity now provides affordable war risk insurance for ships carrying all non-military cargo – such as iron ore, steel, and containerised shipping – and underpins Ukraine’s wider maritime export ecosystem.

Key Points: 
  • Unity now provides affordable war risk insurance for ships carrying all non-military cargo – such as iron ore, steel, and containerised shipping – and underpins Ukraine’s wider maritime export ecosystem.
  • In addition to grain, Unity now provides cover for Ukraine’s other leading export industries including iron ore, steel, electrical equipment, and animal fodder.
  • Underwritten by insurers based at Lloyd’s and other London-based insurers, and led by Ascot, Unity provides up to US$50 million in hull and P&I war risk insurance.
  • New partnerships between the public and private sector, including the expansion of the Marsh Unity facility, are the hallmark of the Lloyd’s market, bringing insurance experts and policymakers together to solve complex risks.”

Sunnova Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Wednesday, February 21, 2024
Commercial Building & Real Estate, Technology, Construction & Property, Other Energy, Utilities, Oil, Gas, Alternative Energy, Energy, Batteries, Principal, Investment, Sale, Adjustment, NOVA, GAAP, Interest, Economics, Sunnova, P&I, Professional, Bank statement, Command center

Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), a leading adaptive energy services company, today announced financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), a leading adaptive energy services company, today announced financial results for the fourth quarter and full year ended December 31, 2023.
  • Revenue increased to $720.7 million, or by $163.0 million, for the year ended December 31, 2023 compared to the year ended December 31, 2022.
  • As of December 31, 2023, Sunnova had total cash of $494.4 million, including restricted and unrestricted cash.
  • Sunnova is hosting a conference call for analysts and investors to discuss its fourth quarter and full year 2023 results at 8:00 a.m. Eastern Time, on February 22, 2024.

Kelly Reports Fourth-Quarter 2023 Earnings

Retrieved on: 
Thursday, February 15, 2024
Growth, Sale, P&I, Cryptocurrency

Kelly reported operating earnings in the fourth quarter of 2023 of $7.3 million, compared to earnings of $4.6 million reported in the fourth quarter of 2022.

Key Points: 
  • Kelly reported operating earnings in the fourth quarter of 2023 of $7.3 million, compared to earnings of $4.6 million reported in the fourth quarter of 2022.
  • Earnings in the fourth quarter of 2023 include $14.8 million of charges related to transformation actions and the first-quarter 2024 sale of our European staffing operations.
  • Excluding those charges, adjusted earnings were $22.1 million in the fourth quarter of 2023.
  • Included in earnings per share in the fourth quarter of 2023 were restructuring charges, net of tax, of $0.16.

Best's Market Segment Report: P&I Clubs Improve Underwriting Results but Further General Increases Needed to Keep Up With Inflation

Retrieved on: 
Monday, February 12, 2024
Insurance, Professional Services, International Marxist Group, ALL, News, AM Best, Protection, Data, Face, P&I

The Best’s Market Segment Report, “P&I Clubs: Improving Underwriting Results but Further General Increases Needed to Keep Up With Inflation,” notes the general increases announced by P&I Clubs for 2024 are slightly below those of the previous year (when some of the clubs applied increases up to 10%).

Key Points: 
  • The Best’s Market Segment Report, “P&I Clubs: Improving Underwriting Results but Further General Increases Needed to Keep Up With Inflation,” notes the general increases announced by P&I Clubs for 2024 are slightly below those of the previous year (when some of the clubs applied increases up to 10%).
  • AM Best considers the level of general increases necessary for clubs to maintain breakeven underwriting results in the face of inflationary economic conditions and the potential for a worse pool year to emerge in the future.
  • To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=340404 .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Edison issues flash on HgT (HGT): Preliminary FY23 NAV total return of 10.7%

Retrieved on: 
Tuesday, February 6, 2024
Investment, Howden, Growth, JTL, Horizontal gene transfer, NAV, P&I

HgT’s preliminary unaudited FY23 trading update reported a 10.7% net asset value total return (NAV TR) in FY23 (of which c 1% in Q423).

Key Points: 
  • HgT’s preliminary unaudited FY23 trading update reported a 10.7% net asset value total return (NAV TR) in FY23 (of which c 1% in Q423).
  • HgT therefore sustained its multi-year track record of delivering c 20–30% pa revenue and EBITDA growth.
  • The discount narrowing from 23% to 13% during FY23 (now c 14%) translated into a share price TR of 26.2%.
  • HgT was cautious in terms of new and follow-on platform investments in FY23, with total investments of £71m, including GTreasury, Nomadia, JTL, P&I and Howden.

AM Best Affirms Credit Ratings of Sveriges Ångfartygs Assurans Förening (The Swedish Club)

Retrieved on: 
Thursday, January 25, 2024
Professional Services, Insurance, Finance, Bank statement, Credit, ALL, P&I, Risk management, Pressure, International Marxist Group, USD, TSC, News, AM Best, Club, Cryptocurrency

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Sveriges Ångfartygs Assurans Förening (The Swedish Club) (TSC or the Club) (Sweden).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Sveriges Ångfartygs Assurans Förening (The Swedish Club) (TSC or the Club) (Sweden).
  • The outlook of these Credit Ratings (ratings) is negative.
  • 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 .

StepStone Group Recognized Among Best Places to Work in Money Management by Pensions & Investments

Retrieved on: 
Monday, December 11, 2023
Crain Communications, Culture, Investment, Pension, NeXT, P&I, Management

NEW YORK, Dec. 11, 2023 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm focused on providing customized investment solutions and advisory and data services, today announced it has been named one of the Best Places to Work in Money Management by Pensions & Investments.

Key Points: 
  • NEW YORK, Dec. 11, 2023 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm focused on providing customized investment solutions and advisory and data services, today announced it has been named one of the Best Places to Work in Money Management by Pensions & Investments.
  • The publication's 12th annual survey is dedicated to identifying and recognizing the best employers in the money management industry.
  • “At StepStone, we believe that a positive and inclusive workplace is essential for driving innovation and delivering exceptional results for our clients."
  • For a complete list of the 2023 Pensions & Investments’ Best Places to Work in Money Management winners and write-ups, go to www.pionline.com/BPTW2023 .

Harbert Management Corporation included in 2023 Pensions & Investments Best Places to Work in Money Management

Retrieved on: 
Monday, December 11, 2023
Crain Communications, Culture, Philosophy, HMC, Research, News, Harbert Management Corporation, Social responsibility, Fund administration, Pension, History, P&I, Management

BIRMINGHAM, Ala., Dec. 11, 2023 (GLOBE NEWSWIRE) -- Harbert Management Corporation (“HMC”) has been voted one of the Best Places to Work in Money Management for the fifth year in a row.

Key Points: 
  • BIRMINGHAM, Ala., Dec. 11, 2023 (GLOBE NEWSWIRE) -- Harbert Management Corporation (“HMC”) has been voted one of the Best Places to Work in Money Management for the fifth year in a row.
  • Presented by Pensions & Investments, the global news source of money management and institutional investing, the 12th annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.
  • HMC prides itself on its history of managing the firm and investment strategies with the utmost integrity.
  • “Pensions & Investments is proud to honor the Best Places to Work in Money Management for the 12th year.

Domain Capital Group Earns Recognition in Pensions & Investments’ “Best Places to Work in Money Management”

Retrieved on: 
Tuesday, December 19, 2023
Personal Finance, Finance, Consulting, Professional Services, Human Resources, Crain Communications, Senior counsel, Philosophy, Research, Hope, Parent, Capital Group Companies, Human, Pension, Employment, P&I

Domain Capital Group, LLC, a comprehensive private investment management services firm, has been recognized in the 2023 “Best Places to Work in Money Management” awards announced by Pensions & Investments today.

Key Points: 
  • Domain Capital Group, LLC, a comprehensive private investment management services firm, has been recognized in the 2023 “Best Places to Work in Money Management” awards announced by Pensions & Investments today.
  • It is the second such award earned by Domain which was accorded the honor in 2021.
  • Pensions & Investments partnered with Best Companies Group, a research firm specializing in identifying great places to work, to conduct a two-part survey process of employers and their employees.
  • For a complete list of the 2023 Pensions & Investments’ Best Places to Work in Money Management winners and profiles of the top 100 firms across size categories, go to www.pionline.com/BPTW2023