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Article 0 Comments Three lawmakers who represent Piedmont, South Dakota, hope to change weak state mining laws that allowed a proposed limestone mine to be sited without notification or input by any local officials or residents. The plan by Simon Contractors to begin mining limestone on 300 acres within the city of Piedmont and in the surrounding Black Hills came as a shock to locals, who only learned of the mine project through an October notice in a local newspaper. Piedmont is located along Interstate 90 about midway between Rapid City and Sturgis. Simon, a French-owned, Wyoming-based mining and materials company, said it has acquired state approval and private landowner agreements to allow limestone mining on 10 parcels of land in and around Piedmont. The mine is expected to start running in August and operate through 2043, according to Simon. Simon followed lax state mining laws that allow mining of sand, gravel and limestone without a formal permitting, notification and public input process required of more invasive hard rock mining operations. The lack of zoning ordinances in Meade County also enabled the mining company to develop its plans without county input. Opposition to the mine has crystalized quickly in Meade...
Article 0 Comments RiverStone International Appoints Pritchard as UK CEO RiverStone International Holdings, the legacy acquisition company, announced the appointment of Charlotte Pritchard as UK CEO, effective January 5, subject to regulatory approval. Pritchard succeeds Andrew Creed who will become group president (also effective January 5), while continuing his role as group CFO. Charlotte Pritchard Pritchard brings more than 16 years of experience in financial services to the role and has spent the past eight years with RiverStone International, most recently as group risk and compliance director, where she has been responsible for the oversight of all risk and compliance matters, and has successfully provided strategic leadership to cross-border teams across five territories. Since 2010 RiverStone International has completed 47 transactions acquiring US$17.7 billion in gross liabilities. In 2024 the group reported $300 million in adjusted profit before tax with a 19.1% return on opening adjusted tangible book value. “We are delighted to appoint Charlotte as UK CEO. Over the past eight years, she has developed strong relationships and delivered consistent results for RiverStone International,” commented Luke Tanzer, group chief executive officer of RiverStone International. “She brings a wealth of experience to the role and has consistently demonstrated her capabilities...
Together, firms build toward becoming Canada’s largest privately held insurance brokerage, employee benefits and wealth advisory firm Toronto, ON (Dec. 3, 2025) – Navacord Corp. and Acera Insurance Services Ltd., two industry-leading Canadian insurance brokers, are merging and poised to create the country’s largest privately held insurance brokerage, employee benefits and wealth advisory firm. The transaction, which is structured as a plan of arrangement under Alberta corporate law, is subject to achieving regulatory, court and shareholder approvals and is expected to close in the first quarter of 2026. The organizations are expected to represent a combined strength of $7.2 billion in insurance and employee benefits premium, $7.5 billion in retirement assets under management, 5,000-plus insurance and financial services professionals, and more than 150 locations nationwide. This merger will be led by longtime peers of 30 years: Navacord founders T. Marshall Sadd and Shawn DeSantis, and Acera founders Lee Rogers and Andrew Kemp, each of whom has deep roots in Western Canada. The deal stands as a testament to their shared culture of collaboration and mutual respect. “This marks a defining moment for both Navacord and Acera. Uniting our organizations allows us to build a stronger, more resilient, and more forward-looking...
Pollara study commissioned by CAFII identifies critical gaps in protection awareness and confidence, pointing to opportunities for industry to better serve financially vulnerable families Toronto, ON (Nov. 25, 2025) – Half of Canadian mortgage holders could only maintain their lifestyle for less than six months without their primary income, according to groundbreaking research from Pollara, commissioned by the Canadian Association of Financial Institutions in Insurance (CAFII). The comprehensive Credit Protection Insurance (CPI) Segmentation Study surveyed more than 3,000 Canadians and reveals widespread financial stress alongside troubling gaps in protection confidence, even among those who already have insurance coverage. The research, the first in Canada to map behavioural segments among current and potential CPI customers, found that 44% of mortgage holders report the current economic situation is negatively impacting their personal finances, while 57% have concerns about job loss in the next 12 months. Perhaps most concerning: 50% say they would have serious problems paying bills if their main earner were unable to work. The Confidence Crisis Despite widespread insurance ownership, Canadians lack confidence in their existing safety nets. The study found that 35% don’t know how long their life insurance policy would last if needed, while only 38% feel confident...
/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.
Article 0 Comments The deadly fire that ripped through seven high-rise towers in Hong Kong is expected to result in a surge in near-term claims among insurers, and hit earnings of the complex’s main underwriter, an affiliate of China Taiping Insurance Holdings 0966.HK, an analyst at Fitch Ratings said on Thursday. China Taiping Insurance (Hong Kong) has coverage exposure of more than $200 million to the Wang Fuk Court apartment complex, and to the contractor of renovation work, publicly available owners’ meeting minutes and a project-briefing document showed. The city’s deadliest fire in decades killed at least 159 people. China Taiping Insurance (Hong Kong) is expected to be hit by a “temporary uptick” in its combined ratio, Fitch credit ratings agency analyst Mengyuan Wang said in a note. The ratio is a key performance gauge for property and casualty insurance underwriting profitability. Read more: Taiping Insurance Shares Hit by Over $200 Million Exposure to Hong Kong Fire It is also expected to see “modest capital erosion,” it added, but that’s unlikely to affect Taiping’s credit rating, Mengyuan said. A spokesperson for the Chinese insurance group declined to comment when contacted by Reuters. The insurer told Reuters on Tuesday it completed...
Agents assemble: The global agentic AI market could reach $45 billion in 2030, but only if enterprises and providers perform proper orchestration. AI disrupts search: Daily usage of AI within search is expected to be three times greater than the usage of any standalone AI tool. Hardware heats up: Inference — the running of AI models — is predicted to make up two-thirds of all AI compute by 2026. However, Deloitte also forecasts that most inference will likely still take place in data centers using costly, power-intensive AI chips worth over $200 billion, rather than on inexpensive chips at the edge. Toronto, ON (Nov. 25, 2025) – Deloitte has released its annual “Technology, Media & Telecommunications Predictions” report, which highlights how AI is redefining the foundations of hardware, software, telecom, and media. AI is driving infrastructure investment, reshaping business models, and accelerating shifts in how people can connect and consume content—creating a more competitive and complex digital economy in 2026 and beyond. “AI is rapidly evolving from promise to practical progress, transforming how technology, media, and telecom companies create, connect, and compete,” said China Widener, vice chair and U.S. Technology, Media & Telecommunications industry leader, Deloitte. “Together, these sectors account...
/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.
Article 0 Comments Kansas Insurance Commissioner Vicki Schmidt announced state efforts have prevented over $4.97 million from going to bad actors through the Protect Vulnerable Adults from Financial Exploitation Act. “Identification and prevention of financial exploitation in vulnerable populations is a priority for our Department,” said Commissioner Vicki Schmidt. “This law has given financial advisors, DCF and the Department of Insurance more tools to help prevent fraud and to go after bad actors.” Kansas legislation effective July 1, 2024, requires broker-dealers and investment advisers to report certain instances of financial exploitation, including potential exploitation. The Kansas Department of Insurance (KDOI) works with the Kansas Department for Children and Families (DCF), Adult Protective Services (APS) on cases reported through this act. The law allows broker-dealers and investment advisers to delay transactions that are suspected financial exploitation so KDOI and APS can investigate. For fiscal year 2025, $10.5 million was reported lost by fraud and financial exploitation before KDOI and DCF were involved. Due to the protections provided by the Act, industry professionals, KDOI, and APS prevented $4.97 million from going to bad actors. Through the Act, 140 reports have been received. Ofthe 140 cases, 63 victims were female and 54 were...
