Operations/tech
-
Argo is set to hold its annual meeting with shareholders on December 15, when seven nominees will be elected to the board. -
The activist reduced its position to 3.05% of the insurer from the ~6.6% stake it owned at the end of Q2.
-
The company said longer term impacts of the pandemic, primarily significant prolonged inflation, have led to lower volumes of policies in force.
-
The delisting comes after the insurer’s stock price fell below $1 for 30 consecutive days.
-
The spun-off units include general wholesale, environmental, construction, cyber and professional liability divisions.
-
While regulations and shareholder proposals draw concerns, the insurance industry also sees ESG efforts as tool for drawing new blood to the business.
-
The team will offer strategic consulting and technology solutions, starting with clients in property, casualty, life and reinsurance.
-
The sale is part of the firm’s strategy to improve its capital structure and optimize operating expenses.
-
Sources said that Gallagher is in the process of obtaining both retail and reinsurance licenses in the South American country.
-
The bi-annual study produced by Aon’s Ward and The Jacobson Group found it's harder to hire than at an all-time high for the industry.
-
Names such as Next Insurance, Policygenius and Root have all announced layoffs to rein in expenses in worsening economic conditions.
-
Next is the latest InsurTech to reduce its staff in what has become a widespread phenomenon within the space.
