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July 19 (Reuters) - Bain Capital has raised $1.15 billion for its first fund dedicated to investing in the insurance industry, as the private equity firm aims to create and invest in companies in the sector, a senior executive told Reuters. The fund exceeded its initial $750 million target through backing from high-net-worth individuals, institutional investors and family offices. It will be deployed through Bain Capital Insurance, a dedicated investment arm the firm launched in 2021. Matt Popoli, global head of Bain Capital Insurance, told Reuters that the new capital pool, Bain Capital Insurance Fund, would give his 20-strong team the ammunition to back middle-market insurance firms overlooked by others. Popoli said the fund will also invest in niche insurance brokers, which can be acquired for cheaper valuations than large rivals.
Persons: Matt Popoli, Popoli, Bain, David French, Rashmi Organizations: Bain Capital, Reuters, Bain Capital Insurance, Bain Capital Insurance Fund, Marsh & McLennan Companies, Thomson Locations: North America, Europe, Mercer, Marsh, New York
A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois
AIG's Zaffino gets 5-year extension as CEO
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: +1 min
Nov 10 (Reuters) - Insurer American International Group Inc's (AIG.N) Chief Executive Officer Peter Zaffino's employment term has been extended for five years through Nov. 10, 2027, the company said late on Thursday in a filing. The company's board approved a one-time grant in the form of restricted stock units (RSUs) having a grant date value of $50 million to Zaffino, according to the filing. He will also receive an annual base salary of $1.5 million and an annual cash bonus of $4.5 million based on the board's assessment of his performance. Zaffino previously served as the chief executive officer of insurance broker Marsh & McLennan Companies Inc (MMC.N). Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
SYDNEY, Nov 4 (Reuters) - Cyber attacks against Australia from criminals and state-sponsored groups jumped last financial year, with a government report released on Friday equating the assault to one attack every seven minutes. The Australian Cyber Security Centre (ACSC) received 76,000 cybercrime reports last financial year, up 13% from the previous period, according to its latest annual cyber threat report. The ACSC, part of the intelligence-collecting Signals Directorate, reported 95 cyber incidents impacting critical infrastructure last fiscal year. Business losses attributable to cyber crime rose on average 14% over the period, with the average crime costing a small business A$39,000 ($24,540). The jump in attacks and damages is making insurers wary and premiums in Australia jumped 56% year-on-year in the second quarter, according to Marsh & McLennan Companies Inc (MMC.N).
[1/2] A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. This week 37 countries, including Australia, will meet at the White House with the goal of tackling ransomware and other cyber crime. Australian cybersecurity insurance premiums rose by an average of 56% year-on-year in the second quarter, said insurer Marsh & McLennan Companies Inc (MMC.N). The average Australian cybersecurity base salary is A$105,000, according to jobs website Glassdoor. Neil Curtis, an Australian cybersecurity executive of U.S. technology contractor DXC Technology Co (DXC.N), who runs a programme retraining military veterans in cybersecurity, said he had requests for about 300 trained personnel in the next six months.
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