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Ardonagh Group inches closer to $2.5 billion investment – report
With backing from Madison Dearborn Partners and later the Abu Dhabi Investment Authority, the firm has grown under CEO David Ross. Ardonagh has acquired assets in markets including Brazil, Spain and Italy. Last year, it purchased Australia’s PSC Insurance Group for an implied equity value of A$2.3 billion ($1.5 billion), taking the company private and…
Ethos considering IPO — report
Led by co-founder and CEO Peter Colis, Ethos reported 50% year-over-year revenue growth in 2024 but did not disclose further details. The company, which offers life insurance policies of up to $3 million without requiring a medical exam, promotes a streamlined approval process that takes about 10 minutes, according to its website. Source link
Zurich, Hiscox in battle over who defends Giorgio Armani employee over sexual misconduct claim
Loreto-Hays v. Herrera (2018), alleging sexual assault by Herrera while the plaintiff worked in a GAC store. Oberloh v. Giorgio Armani Corp. (2018), which included allegations that GAC ignored reports of Herrera sexually harassing multiple employees. Christin v. Herrera (2019), which involved five plaintiffs alleging a pattern of sexual harassment and assault by Herrera spanning…
Insurance moves: Alera Group, Brown & Riding
“Talicia is an executive who leads with both focus and empathy – for clients and colleagues,” said Gary Piantedosi, president of Alera Group. “Those characteristics, combined with her strategic insights and collaborative leadership style, will benefit both clients and colleagues, and we’re excited about the future.” Source link
Accelerated crypto regulations – what should risk managers be aware of?
“Further discussions and drafting of the Financial Innovation and Technology for the 21st Century Act (‘FIT21’) bill, which could provide greater regulatory clarity for digital assets, is expected,” he said. “This legislation aims to clarify standards for decentralisation, intermediary requirements and the potential evolution of future regulations, to support innovation and growth in the United…
Minnesota moves to regulate peer-to-peer car sharing, impacting insurance industry
The bill, H.F. No. 2752, defines key operational terms for P2P car-sharing services, clarifying the legal distinctions between car-sharing and traditional rental services. Unlike traditional car rentals, peer-to-peer car-sharing allows private vehicle owners to rent their cars to others via online platforms. By excluding P2P car-sharing agreements from the legal definition of vehicle rentals, the…