Insurer Aviva said it will close three UK property funds in July that have been suspended since March last year due to market uncertainty as the pandemic hit Britain s economy.. | May 20, 2021
Insurer Aviva Will Close 3 UK Property Funds Hit by Pandemic Economic Turmoil insurancejournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancejournal.com Daily Mail and Mail on Sunday newspapers.
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LONDON (Reuters) - OMERS Private Equity and the Alberta Investment Management Corporation (AIMCo) have sold a controlling stake in consultancy Environmental Resources Management (ERM) to private equity firm KKR, the Canadian funds said on Monday.
The 60% stake sale gives ERM an enterprise value of $2.85 billion, a source familiar with the matter said.
UK-headquartered ERM operates in 40 countries and has more than 5,500 staff, advising clients on sustainability challenges and commercial opportunities.
OMERS had a little over 40% of the business while AIMCo had slightly under 20%, with ERM management holding the balance, the source added.
OMERS Private Equity, a unit of the Ontario Municipal Employees Retirement System, and AIMCo started investing in ERM in 2015 in a deal that valued the company at $1.7 billion.
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Colonial Pipeline’s Cyber Insurers Include AXA XL, Beazley May 13, 2021
Colonial Pipeline has cyber insurance arranged by broker Aon, with Lloyd’s of London insurers AXA XL and Beazley among the underwriters, three sources told Reuters on Thursday.
Colonial Pipeline has begun to restart the nation’s largest fuel pipeline network after a ransomware attack shut the line, triggering fuel shortages and panic buying in the southeastern United States.
The cyberattack halted 2.5 million barrels per day of shipments of gasoline, diesel and jet fuel last Friday after the most disruptive cyberattack ever on U.S. energy infrastructure.
Insurance Insider reported the news late on Wednesday, saying the cover was for at least $15 million.