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The activist investor cited progress on governance issues in pulling back two proposed directors but pushed Safety Insurance for further strengthening. -
The board also declared a quarterly dividend of $0.535 per share on common stock, payable on May 13.
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Courts in Bermuda and the US approved the move, which had earlier been subject to investor litigation.
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Sources fear that the issue will be buried after the coming legislative elections in November.
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Experts at the PLUS D&O symposium took a deep dive into the issues and uncertainties affecting SPAC deals.
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Insurance carriers tailor their comments to leave investors walking away with an optimistic view.
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The start-up said its survey shows that SPAC and de-SPAC claims would drive increasing litigation throughout 2022.
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The stock hit new lows after James River booked a $115mn reserve charge and posted a Q4 combined ratio of 140.6%.
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Combined, Warren Buffet’s investment conglomerate has shed over 4.88 million shares of Marsh since the end of June, or more than 92% of its holdings.
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Stock volumes were up, and InsurTech short interest intensified despite significant existing short positions in the stocks.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Investors are taking a second look at private valuations, as they realize that an IPO or a SPAC exit is no longer an attractive option in the short term.
