By Morgan Hartley and Chris Walker, Contributor
It was a blisteringly hot day in Pyay, a midsized Burmese city that was the commercial center of the region and a tourist gateway for Burma’s undeveloped beaches. I was walking up the town’s main drag, a two laned thoroughfare whose traffic signals were respected, and whose sidewalks were lined with street cart vendors and the city’s most prominent businesses. …read more
Source: FULL ARTICLE at Forbes Latest
By Business Wirevia The Motley Fool
Filed under: Investing
Everest Announces Strategic Alliance with Arrowhead General Insurance Agency
HAMILTON, Bermuda–(BUSINESS WIRE)– Everest Re Group, Ltd. (NYS: RE) today announced that its wholly-owned primary insurance subsidiary, Everest Security Insurance Company, (“ESIC“) has entered into a definitive agreement with Arrowhead General Insurance Agency, Inc. (“Arrowhead”), a subsidiary of Brown & Brown, Inc. (NYS: BRO) , whereby ESIC will transfer certain assets associated with its non-standard automobile business to Arrowhead.
Effective April 1, 2013, all of ESIC‘s employees will become employees of Arrowhead and Everest will become the exclusive underwriter of the combined non-standard automobile book of business for Arrowhead. This strategic alliance will grow Everest’s non-standard automobile business from $30 million to approximately $80 million under the combined book. The pairing of Everest’s financial strength with Arrowhead’s longstanding expertise in the non-standard automobile sector creates operational efficiencies and growth opportunities for both parties.
Daryl Bradley, President of Everest’s primary insurance operations, stated, “I am very pleased to expand our current business relationship with Arrowhead. This alliance gives Everest immediate scale in the non-standard automobile sector and the ability to utilize Arrowhead’s infrastructure and technology capabilities to expand our market share in this sector.”
Chris Walker, Chief Executive Officer of Arrowhead, said, “The decision to enter into this agreement developed from Arrowhead’s longstanding relationship with Everest as it currently writes several programs with Arrowhead. Everest is a blue chip company with exceptional financial strength and smart, creative people driven to produce strong results,” Walker further commented, “Fortunately, we have built longstanding business and personal relationships with the Everest team and frequently discuss program opportunities. This venture will allow Everest to further tap into our infrastructure and technology capabilities as we work together to scale the program for growth. It truly is a win-win scenario.”
Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. Everest Reinsurance (Bermuda), Ltd., including through its branch in the United Kingdom, provides reinsurance and insurance to worldwide property and casualty markets and reinsurance to life insurers. Everest Reinsurance Company (Ireland), Limited provides reinsurance to non-life insurers in Europe. Everest National Insurance Company and Everest Security Insurance Company provide property and casualty insurance to policyholders in the U.S. Everest Indemnity Insurance Company offers excess and surplus lines insurance in the U.S. Everest Insurance Company of Canada provides property and casualty insurance to …read more
Source: FULL ARTICLE at DailyFinance
By Morgan Hartley and Chris Walker, Contributor
Western news outlets are abuzz about how Thein Sein’s new government in Myanmar is taking measures to open up the country’s borders to FDI and international trade. Much of this excitement stems from its implications for trade routes. Billions could be saved on shipping if an easy overland route was developed from Southeast Asia to India and more Westerly nations. …read more
Source: FULL ARTICLE at Forbes Latest
By Morgan Hartley and Chris Walker, Contributor
The midsummer that Strikingly.com was born was as hot and muggy as any of Chicago’s dog days, and Hyde Park had the heavy calm of a university town that had emptied. The mood at the startup’s offices, then called JoinStart, mirrored the climate. The startup’s team had wanted a shot at changing the world, or at least at building a product that would make it a better place. They had focused so much on that vision, with visions of startups like Kiva and Kickstarter, that they had lost the path in front of them, and no longer knew where to go. …read more
Source: FULL ARTICLE at Forbes Latest
By Business Wirevia The Motley Fool
Filed under: Investing
First Hyatt Place Hotel Opens in NYC
Hyatt Place New York/Midtown-South highlights brand’s move into urban, downtown locations
CHICAGO–(BUSINESS WIRE)– Hyatt Hotels Corporation (NYS: H) , Chesapeake Lodging Trust (NYS: CHSP) and Real Hospitality Group today announce the opening of Hyatt Place New York/Midtown-South, marking the first Hyatt Place property to debut in New York City. The new Midtown Manhattan location represents a move into downtown urban locations for the upscale select service brand, which has grown by nearly 18 percent in the past three years.
Hyatt Place New York/Midtown-South is located on W 36th Street, between 5th and 6th Avenues, in the heart of Manhattan. (Photo: Business Wire)
“New York is a significant and exciting market that represents so many opportunities for us as we look for meaningful growth across our portfolio of brands,” said Rakesh Sarna, group president – Americas, Hyatt Hotels Corporation. “The opening of the city’s first Hyatt Place is a significant step forward in our goal to become the most preferred brand for our guests, and we can’t wait to show New Yorkers and its many visitors from around the world what Hyatt Place is all about.”
Earlier this month, a Hyatt Place hotel opened in downtown Austin, Texas, and other downtown locations are expected to open this year in Chicago’s River North neighborhood; Minneapolis, Minn.; Charlotte, N.C.; Omaha, Neb.; Nashville, Tenn; Panama City, Panama; and Santiago, Chile. In 2014, the company anticipates additional urban, downtown openings for the brand in New York City‘s Times Square and Flushing; Washington D.C.’s NoMa neighborhood, and Lincoln, Neb.; among others.
“Hyatt Place guests may be accustomed to seeing our brand in suburban and airport locations, but we feel there is also demand in downtown locations for the accessibility, convenience and overall experience the brand provides. Hyatt Place delivers a seamless experience to meet the needs of our guests’ multi-tasking 24/7 lifestyles, so what better place to showcase that experience than The City that Never Sleeps,” said Chris Walker, vice president of brands, Hyatt Place and Hyatt House. “We look forward to introducing a new group of customers to the Hyatt Place brand.”
About Hyatt Place New York/Midtown-South
By Morgan Hartley and Chris Walker, Contributor
Neeta Reheja has planned more million dollar weddings that she cares to remember, but she can still get nervous when a big, expensive show is about to go off. On this occasion, she was standing on the wedding ground amid thousands of awed guests, watching the grandest entrance she had ever been asked to pull off. Two helicopters were flying in low, and as they hovered over the crowds, the groom was lowered from a cable onto the stage. A massive construction crane rumbled from just outside the wedding grounds, and its huge arm wheeled around to deposit the bride next to her new partner. The second helicopter started dumping fresh rose petals by the bucketful, and, right on cue, a DJ started playing a popular hindi song about lovers flying through a shower of rose petals. …read more
Source: FULL ARTICLE at Forbes Latest
