NEW YORK, April 04, 2023–(BUSINESS WIRE)–Starr Insurance Companies today announced that John Patin, senior investment officer, has resigned his position for personal reasons. John F. Shannon, formerly with Alleghany Corp., was named to succeed him.
"We wish John Patin great success in his future endeavors," said Maurice R. Greenberg, chairman and chief executive officer, "We’re confident Mr. Shannon will serve Starr well, given his extensive experience managing insurance assets for some of the largest U.S. insurers."
Shannon served as senior vice president and chief investment officer at Alleghany, which Berkshire Hathaway acquired in October 2022. Prior to Alleghany, Mr. Shannon spent more than 11 years at MetLife Investments as vice president, global portfolio management, following five years at Prudential Financial as an investment analyst. He is a chartered financial analyst and holds a Bachelor of Science degree from University at Buffalo and an MBA from New York University’s Stern School of Business.
Mr. Shannon is based at Starr’s New York headquarters.
About Starr Insurance Companies
Starr Insurance Companies (or Starr) is a marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on six continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, China, Hong Kong, Malta, Singapore, Switzerland and U.K. each have an A.M. Best rating of "A" (Excellent). Starr’s Lloyd’s syndicate has a Standard & Poor’s rating of "A+" (Strong).
Visit us at www.starrcompanies.com or follow us LinkedIn and Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230404005264/en/
Contacts
Charlie Armstrong
Vice President, Marketing
charlie.armstrong@starrcompanies.com, 646.758.8308
Stock markets offer one of the great paradoxes of life – that when conditions grow difficult and prices fall, opportunities for profit will appear. For investors, it’s a chance to cash in – after a proper look into the nuts and bolts behind a market decline. As always with stocks, informed decisions are the most likely to pan out. To jumpstart that due diligence, we can check in with Wall Street’s analysts. These are the pros, the equity experts who’ve built their reputations learning and analyz
We’re in a turbulent economic environment right now, and the headwinds are piling together, putting up an ominous cloud on the financial horizon. Billionaire Leon Cooperman, the CEO of Omega Advisors, has noted the coming storm, and sees the commercial real estate market as the eye of the developing hurricane. In Cooperman’s view, several factors are about to hit hard at commercial real estate: first, declining occupancy rates; second, rising interest rates; and third, reduced credit access in a
(Bloomberg) — Turns out, the biggest short in the banking industry anywhere in the world isn’t in Switzerland or Silicon Valley, but rather, in the relatively tame financial center of Canada.Most Read from BloombergWarner Bros. Nears Deal for Harry Potter Online TV SeriesToronto-Dominion Becomes Biggest Bank Short With $3.7 Billion on the LineChina’s Yuan Replaces Dollar as Most Traded Currency in RussiaRead the New York Felony Indictment Against TrumpJamie Dimon Warns US Banking Crisis Will Be
After a rough month from mid-February to mid-March, investors have reason for some positive sentiment in what’s been a highly volatile environment. Since hitting bottom on March 13, the S&P 500 has gained back 6.5%, and is back up to a 7.5% year-to-date gain. Increases have been even more impressive for the NASDAQ index, which rose 17% in Q1 – for its best quarterly performance since 2020. But not so fast, says JPMorgan asset management CIO Bob Michele, who takes a cautious view of the long-term
In this uncertain market environment, the educated investor would do well to seek out some signal that can cut through the noise and indicate the sound stock purchase choices. Following the legendary investors, the traders who build multi-billion-dollar fortunes on the stock market trading scene, is a popular strategy. Among these Wall Street titans is Israel “Izzy” Englander. Englander serves as the Chairman, CEO and Co-Chief Investment Officer of Millennium Management, the hedge fund he founde
Pan American Silver (PAAS) completes the much-awaited acquisition of Yamana Gold, which will boost its silver by 50%.
This top-notch cloud computing stock teased investors by briefly hitting a buy point after blowing away EPS expectations.
Major stock market indexes slipped further at the noon hour Tuesday, trading near the lows of the day. The labor market finally showed signs of slowing after months of Fed tightening. The Dow Jones trimmed 0.
Gold prices are headed toward record highs Tuesday—and they might not stop there. At $2,042 an ounce—up 2.1% on Tuesday—the gold price has less than 1.5% to rise to hit its record high of $2,069.40 set in 2020. Gold prices are typically driven by three factors.
In the latest trading session, Tesla (TSLA) closed at $192.58, marking a -1.12% move from the previous day.
HOUSTON (Reuters) -Exxon Mobil Corp's Low Carbon business has the potential to generate hundreds of billions of dollars in revenue and outperform the company's traditional oil and gas as soon as a decade from now, CEO Darren Woods said. The largest U.S. oil producer on Tuesday laid out to investors the aims of its emerging energy transition strategy in a meeting with Wall Street. Exxon is tackling what should be a multi-trillion market in 10 years or more, Woods said.
The iPhone maker has been increasing its dividend for the last 10 years—and slashing share count for the last five. Expect both to continue when Apple reports March-quarter earnings.
Kerrisdale Capital said in a letter to the accountants for C3.ai that the company is overstating revenue and margins. The company denied wrongdoing.
Brace yourself for lots of highs and lows when it comes to first-quarter S&P 500 earnings results. The spread will be large.
Dow Jones lost ground as factory orders fell along with job openings. AMC stock dived on the conversion of APE units to common stock.
WASHINGTON (Reuters) -Virgin Orbit Holdings Inc, founded by billionaire Richard Branson, filed for Chapter 11 bankruptcy protection on Tuesday after the satellite launching business struggled to secure long-term funding following a failed launch in January. The filing comes less than two years after Virgin Orbit went public at a valuation of roughly $3 billion. "We believe that the Chapter 11 process represents the best path forward to identify and finalize an efficient and value-maximizing sale," Virgin Orbit Chief Executive Dan Hart said in a statement.
(Bloomberg) — Federal Reserve Bank of Cleveland President Loretta Mester said policymakers should move their benchmark rate above 5% this year and hold it at restrictive levels for some time to quell inflation, with the exact level depending on how quickly price pressures ease.Most Read from BloombergWarner Bros. Nears Deal for Harry Potter Online TV SeriesToronto-Dominion Becomes Biggest Bank Short With $3.7 Billion on the LineChina’s Yuan Replaces Dollar as Most Traded Currency in RussiaRead
In the latest trading session, Enterprise Products Partners (EPD) closed at $26.16, marking a +0.19% move from the previous day.
Nvidia, Meta Platforms, Tesla, Advanced Micro Devices, and Salesforce.com each returned 50% or more last quarter. The next gains may be less broadly based.
Jefferies analyst Jonathan Matuszewski cut his target on Bed Bath stock to 50 cents from $3 on Tuesday. He's one of only eight analysts left who cover the embattled retailer.
