Markel said it would maintain a “constructive and ongoing dialogue with all stakeholders” following reports that activist investor Jana Partners has called on the company to separate or sell its Markel Ventures investment business.
Shareholder Activism
Zurich-listed Baloise has become the latest P&C insurer to be targeted by an activist shareholder with news this morning that Cevian Capital has accumulated a 9.4 percent stake in the company.
Markel will face a shareholder proposal at its upcoming annual general meeting calling for disclosure of information on greenhouse gas (GHG) emissions associated with its underwriting and investment activities, with warnings that the insurer lags behind US and European peers.
Fairfax has described allegations by short seller Muddy Waters that it has manipulated its asset values and overstated its book value as “false and misleading” in a strongly worded statement.
Starboard Value has sold off its holding in WTW, some two years after the activist investor built up a position in the company following the broking giant’s aborted combination with Aon.
Allstate’s share price rose as much as 6 percent yesterday following a report by Reuters that Nelson Peltz's activist hedge fund Trian Fund Management has built a stake in the US auto/homeowners heavyweight.
Environmental activist network Insure Our Future has criticised US insurance giants Chubb, Travelers and The Hartford, as well as their largest shareholders, for failing the 2023 proxy season’s “climate test” at their respective annual general meetings this month.
European activist shareholder Cevian Capital has sold down its stake in London-listed Aviva, ending its long-running campaign in a move which endorses CEO Amanda Blanc’s overhaul strategy to return further capital to investors in the UK insurance giant.
European activist shareholder Cevian Capital has reduced its stake in London-listed Aviva to below 5 percent in a move which endorses CEO Amanda Blanc’s overhaul strategy to return further capital to investors in the UK insurance giant.
Argo has announced that activist investor Capital Returns has withdrawn its board nominees ahead of the insurer’s annual general meeting this week, a move that will be viewed as an inflection point in the activist’s battle with the specialty carrier.
