Assoc. of Bermuda Insurers and Reinsurers Elects Arch Capital’s Grandisson as Chair January 7, 2021
New ABIR officers elected to Bermuda’s leading international insurers and reinsurers industry association are:
Chair Marc Grandisson, CEO of Arch Capital Group Ltd.
Deputy Chair Pina Albo, CEO of Hamilton Insurance Group Ltd.
Second Deputy Chair Christopher Schaper, CEO of AIG Re.
Past ABIR Chairs Albert Benchimol, president and CEO of AXIS Capital; Kevin O’Donnell, president & CEO of RenaissanceRe Holdings and Stephen Catlin, chairman and CEO of Convex also serve as ABIR officers.
‘I’m energized to advance ABIR’s international mission and look forward to working with my fellow ABIR member companies to promote the Bermuda re/insurance market’s interests around the world,” Grandisson said. “I’d like to thank past ABIR Chairs for their tremendous service in the public policy, education and advocacy for the Bermuda market. Ber
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Marsh & McLennan Agency LLC (MMA), the middle market subsidiary of Marsh, today announced the acquisition of Compass Financial Partners, a Greensboro, North Carolina-based retirement consulting and investment advisory firm. Terms of the acquisition were not disclosed.
A nationally recognized leader in the sector, Compass Financial Partners provides institutional retirement plan consulting and fiduciary services to clients across the US; its combined plan assets exceed $14 billion. Additionally, the company provides private wealth management and financial planning services to select individuals and families.
Compass colleagues will continue to work under the leadership of founders and Managing Partners Kathleen Kelly and George Hoyle. Ms. Kelly also will join MMA’s National Retirement Strategy Team and lead the Retirement Services Practice for the Mid-Atlantic region.
Stocks making the biggest moves midday: Apple, Alibaba, Nikola, Macy s (SPY +0.4%). Markets will be closed tomorrow Christmas Day.
The Market in Perspective
Here are the headlines moving the markets.
The Countries Set To Win Big On The Lithium Boom Last week I read a press release that piqued my interest. Vancouver-based Lithium Americas Corp. announced that they had received an environmental impact statement (EIS) from the U.S. government for a proposed lithium mining project in Nevada. The EIS is required for certain projects that have the potential to significantly impact the environment. It is an important milestone in getting major projects executed. Lithium Americas said they expect final permitting to be approved in early 2021. Lithium Americas uses an acid leaching process to extract
In a Squawk Box interview, Glaser said corporate America fully recognizes the importance of vaccines in curtailing the pandemic. Don t get me wrong: CEOs want their employees vaccinated, but I think that mandates are going to be very rare, he said.
Still, Glaser, who has led the New York-based consulting firm and insurance broker since 2013, said Marsh & McLennan is advising clients to strongly encourage vaccinations against Covid-19. We all want to return to a more normal way of life . and vaccines are really required for that, he said.
The first Americans outside of clinical trials began receiving Covid-19 vaccinations last week, and health-care workers and long-term care facility residents are receiving priority in the initial wave of available doses.
Aon said it was confident of securing EU approval without having to sell any assets to allay competition concerns and that it was on track to close the deal in the first half of 2021.
The European Commission said the deal could significantly reduce competition in markets for commercial risk brokerage services, re-insurance brokerage and provision of retirement and health & welfare services to commercial customers.
It cited brokerage services to large multi-national customers in property and casualty, financial and professional, credit and political risk, cyber and marine as well as customers in the space and aerospace manufacturing industry as the most affected.