Operations/tech
-
The member joined the board in August 2022, two and a half years after ending his activist campaign against the carrier’s management. -
It is understood that Lyons has been set to retire from the company in the summer of 2023.
-
The charges spanned workforce actions, rationalizing technology and reducing the overall real estate footprint.
-
It is understood that most of the cuts affected employees in the sales and marketing division.
-
The non-profit initiative will broaden to include cyber and casualty after successful tests on property reinsurance placements.
-
For nearly four years, Patel served as executive chairman at Perennial Climate following a three-year stint as CEO of Softbank-backed Brightstar Corp.
-
2022 marked a reversal from last year’s unprecedented levels of global investment in InsurTech as the macroeconomic scenario flipped and investors put lossmaking companies under a magnifying glass.
-
The carrier forecasts to incur a pre-tax $51mn-$56mn restructuring charge in Q4 and the remainder in 2023.
-
The withdrawals of the activist investors have come just three days before the insurer’s annual shareholder meeting.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
The members were unanimously selected by the board as part of its multi-year succession planning process.
-
Even if venture debt has always been around, sources said InsurTechs are approaching the market in different ways, as they struggle to raise equity rounds at attractive valuations.
