American International Group, Inc. (NYSE: AIG), today announced that Chris Rash has been appointed Chief Executive Officer ("CEO”) of Talbot Underwriting Ltd ("Talbot”), which operates within the Lloyd's Insurance Market through Syndicate 1183. Mr. Rash has also been appointed to the Talbot Underwriting Board. Subject to regulatory approval of both appointments, Mr. Rash is expected to join Talbot by January 1, 2021 and will be based in London.
Mr. Rash will report to the Talbot Underwriting Board and to Jon Hancock, Chief Executive Officer of AIG International General Insurance. In this role, he will oversee all aspects of Talbot’s operations. Upon Mr. Rash’s arrival at Talbot, acting Talbot CEO, David Morris, will be appointed Talbot’s Chief Underwriting Officer.
Mr. Rash joins Talbot from StarStone Group, where he was most recently interim Group CEO, having previously served as CEO of International and Deputy Group CEO. A seasoned executive with extensive international leadership experience in insurance and finance, Mr. Rash joined StarStone in August 2018 as Executive Chairman before assuming the newly created role of President in October 2018 to lead execution and operational capabilities. Formerly, he was Group CFO for MS Amlin plc and previously served as Commercial Director and CFO at the National House Building Corporation, and prior to that as Group Chief Accountant at RSA Group.
Mr. Hancock said: "I am pleased to welcome Chris to Talbot. His significant international leadership experience in insurance and finance ideally suit him to serve as CEO of Talbot. I look forward to supporting Chris’ leadership at this pivotal time, as we continue to position AIG’s businesses at Lloyd’s to deliver innovation and sustained profitable growth.”
Mr Rash said: "I am delighted to join Talbot and its talented team of colleagues at this moment of profound opportunity in the insurance industry. I look forward to positioning Talbot to provide unique expertise and strategic value to our clients and stakeholders.”
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
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Linx closed the 2Q20 with gross revenue of BRL 246.3 million. The indicator is the result of the combination of recurring revenues and services. In 2Q20, total recurring revenue reached BRL 213.1 million, 13.2% higher than the same period in 2019 and equivalent to 87% of gross revenue. Linx's net revenue was BRL 213.5 million, which represented an increase of 10.8% when compared to 2Q19. Adjusted EBITDA reached BRL 60.3 million in the quarter and the adjusted EBITDA margin was 28.2%. Adjusted net income in the 2Q20 was BRL 12.0 million.
"Linx turned the crisis into an opportunity through its ability to generate value for the retailer with its end-to-end platform, providing in many cases technologies that guaranteed the continuity of operations, especially with the offering of Linx Digital solutions. As a result, we have seen a sharp acceleration in the digital transformation process in recent months. In addition to partnerships with the most relevant marketplaces in Brazil, Linx launched new offers such as Linx Commerce for Pharmacies with 60,000 pre-registered SKUs, integration with the B2W marketplace. Other existing solutions had a huge increase in demand, such as the Neemo application that was expanded to also serve convenience stores and the Payment Link that can be sent to the customer to make the payment for a purchase via messaging applications and is already integrated with the store's ERP,” explains Alberto Menache, Linx CEO.
We continue to operate normally and reaffirm our commitment to the long term, ensuring the safety of our team, service to customers and suppliers, and consequently, to the business. We maintain our company acquisition strategy with a focus on solutions that complete our portfolio of solutions for small businesses and cross-sell to Linx Core customers.
About Linx
Linx is a Brazilian company specialized in retail technology. Leader in the management software market, with 45,6% of retail market share, as IDC attests. Publicly traded at B3 since 2013, Linx also became the first Brazilian publicly traded software company at NYSE in 2019. The company has more than 3,500 employees distributed among its headquarters in São Paulo, 15 branches throughout Brazil. and 5 countries in America. Visit www.linx.com.br/imprensa.
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(RTTNews) - European stocks are seen opening on a flat note Wednesday as investors weigh coronavirus worries against hopes of fresh U.S. stimulus.
Covid infection rates are on the rise again in parts of Asia, with Tokyo and other parts of Japan currently under a state of emergency to quash a surge in infections.
China's northeastern provinces have been the hardest-hit due to the virus as officials brace for the upcoming Chinese Lunar New Year holiday season.
Asian markets are trading mixed ahead of the U.S. presidential inauguration ceremony, taking place under the shadow of the unprecedented health crisis and protests in the United States.
Gold prices inched up on a weaker dollar while oil extended gains on stimulus hopes.
U.S. stocks rose overnight as traders returned to their desks following a long holiday weekend.
The Dow Jones Industrial Average inched up 0.4 percent and the S&P 500 added 0.8 percent as Janet Yellen made the case for large-scale fiscal stimulus and some of the country's biggest banks beat expectations for fourth-quarter earnings.
The tech-heavy Nasdaq Composite jumped 1.5 percent to end the session just shy of the record closing high set earlier this month.
European markets ended on a subdued note Tuesday as investors weighed the economic impact of surging coronavirus cases and tighter lockdown restrictions in several places across the continent.
The pan European Stoxx 600 gave up 0.2 percent. The German DAX slid 0.2 percent, France's CAC 40 index eased 0.3 percent and the U.K.'s FTSE 100 edged down 0.1 percent.
