Investments
Citron Research Will No Longer Publish Short Reports
Citron Research has announced that it will no longer publish short reports. The move marks a major reversal in the firm’s strategy as it says it will now focus on long opportunities for investors. Citron Research’s decision to stop publishing short reports comes amid the short squeeze in GameStop stock. Q4 2020 hedge fund letters, […]
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Read MoreThe Drama At GameStop And Other Activist Victories
Activists notched significant victories this week by harvesting some low-hanging fruit, though these wins are unlikely to have a bearing on some of the year’s thorniest contests. Q4 2020 hedge fund letters, conferences and more The Acquisition Of Perspecta Perhaps the most notable development was the acquisition of Perspecta, a public sector IT provider targeted […]
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Read MoreThe Moonshot Fizzled Out, Inviting Sellers Again
The reflexive rebound slowly but surely lost steam, rolling over into the close. The decline continued in the overnight session before a 3720-ish floor was established, indicating that the stock bulls are not yet out of the woods. It was indeed a good idea to take open long profits off the table yesterday for a […]
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Read MoreAon & WTW cite alt. capital, disintermediation & marketplaces in defence of merger
Broking, advisory, benefits and consulting giants Aon and Willis Towers Watson have defended their merger, with a response to the New Zealand Commerce Commission that cites alternative reinsurance capital, disintermediation by the big four and marketplaces such as Tremor, as threats to their own combined business. The New Zealand Commerce Commission had opened a case…
Read MoreAXA XL promotes Patel to Head of AXA XL ILS Capital Management
AXA XL, the commercial property & casualty insurance and reinsurance arm of the AXA Group, promoted Niraj Patel to lead alternative capital activities as Head of AXA XL ILS Capital Management in late 2020, reporting to Peter Martin, who was also promoted to Head of Reinsurance Capital Management. As a reminder, Dan Brookman, the former…
Read MoreAXIS Re hires Argo’s Katie Partington Howarth as CUO
AXIS Re, the global reinsurance business of specialty re/insurer AXIS Capital, has appointed Katie Partington Howarth, who was formerly at Argo, as the new Chief Underwriting Officer for all of its reinsurance activities. As Chief Underwriting Officer and Head of the Reinsurance Products Division at AXIS Re, Partington Howarth will have responsibility for the global…
Read MoreFEMA sponsors fourth FloodSmart cat bond, targets $350m+ of reinsurance
The U.S. Federal Emergency Management Agency (FEMA) has returned to the insurance-linked securities (ILS) market for its fourth catastrophe bond issuance, a currently $350 million FloodSmart Re Ltd. (Series 2021-1) transaction, seeking additional flood reinsurance coverage from the capital market for its National Flood Insurance Program (NFIP). As with FEMA’s previous FloodSmart Re catastrophe bonds…
Read MoreQBE centralises global reinsurance underwriting under Postlewhite in London
QBE, the Australian headquartered global insurance and reinsurance group, is centralising all of its global inwards reinsurance underwriting business to be managed in London under Steve Postlewhite. Stephen Postlewhite stepped up to become the Managing Director of QBE Re, the global reinsurance underwriting division of QBE, in Q1 of 2020. QBE said that it has…
Read MoreJanuary well short of hard market, multiyear correction needed: AXIS CEO Benchimol
The January reinsurance renewals fell well short of hard market price increases, with part of the reason being new capacity from both incumbents and new entrants, according to AXIS Capital CEO Albert Benchimol. The CEO of AXIS Capital, the Bermuda headquartered insurance and reinsurance company, believes that rates need to continue to firm and that…
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