PORTO, Portugal, March 24, 2025 /PRNewswire/ — Sonae (Euronext Lisbon: SON), the Portuguese-headquartered multinational group with leading market positions across key sectors, announced record financial results for the full year 2024. The group’s revenue increased by 18%, reaching €9.95 billion, driven by strengthened market leadership in retail, sustained organic growth, and strategic acquisitions.

EBITDA also grew substantially, surpassing €1 billion, while net profit attributable to shareholders rose by 18% to €223 million on a comparable basis. The group’s investments reached a historic €1.589 billion — more than double the previous year — supporting both strategic acquisitions and organic expansion.

“2024 was a fantastic year for Sonae, and I am fully convinced that we have the foundations to achieve even greater success in the future” said Cláudia Azevedo, CEO of Sonae. “Expanding our portfolio and strengthening our core businesses led to reach two important milestones: group sales reached ca.€10bn, increasing by 18% year-over-year, and EBITDA surpassed €1bn. Investments were strategically managed to support value creation opportunities, including enhancing our digital capabilities, expanding our businesses, and executing key portfolio moves,” concluded Cláudia Azevedo.

Sonae continues to demonstrate solid progress in its commitment to sustainable growth and long-term value creation. In 2024, 86% of the group’s long-term financing lines were indexed to sustainable, green, or ESG performance criteria. Operational CO₂ emissions were reduced by 19% compared to 2022, and recyclable plastic packaging for private label products reached 90%.

Community support also increased, with €34 million invested in initiatives focused on food donations and education. Diversity remains a priority, with women now occupying 41% of leadership positions. Additionally, Sonae has proposed a dividend of 5.921 euro cents per share, reflecting a 6.5% dividend yield and a payout ratio of 52% of consolidated net income attributable to the group.

The Sonae group comprises:

• The leading food retail chain in Portugal, with more than 1,000 stores and 4.5 million active loyalty card members.
• The Iberian Peninsula’s largest health, wellness, and beauty retail operator, with over 800 stores and annual revenues of €1.5 billion.
• Portugal’s leading electronics retailer, expanding its European footprint through its growing technology repair services network.
• An international real estate specialist, co-controlling Latin America’s largest shopping centre operator.
• Portugal’s second-largest telecommunications provider, leading the country’s 5G deployment.
• An active technology investor, with a high-tech portfolio valued at €323 million.

Listed on Euronext Lisbon, Sonae employs more than 57,000 people and has a six-decade legacy of responsible growth recognised by its inclusion in the S&P Global Sustainability Yearbook, its strong CDP ratings, and its listing in the Bloomberg Gender-Equality Index. Its mission remains to create long-term economic and social value, bringing the benefits of progress and innovation to an ever-increasing number of people.

Find out more at www.sonae.pt

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LONDON, March 24, 2025 /PRNewswire/ — Markel, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that it has made three internal promotions and hired a Technical Claims Lead to further enhance its award-winning Wholesale Claims service for brokers, insureds and trading partners.

The quartet of appointments include Dan Thomas, who’s joined the business as Marine Technical Claims Lead, where he’ll work closely as part of Markel’s Marine Liability Claims team with the underwriters by providing feedback on policy wordings and claims insights for both renewal and new business, while fostering relationships with broker partners. He’ll also collaborate with the business’ Actuarial and Outwards Reinsurance teams, making sure that they’re kept abreast of key developments.

Thomas brings a wealth of industry experience and expertise to his role, spanning more than two decades. Previously, he was Head of Marine Claims at Helvetia Global Solutions UK, where he was responsible for managing claims across the organisation’s marine portfolio. Prior to this role, Thomas worked for QBE European Operations/British Marine as Head of Technical Adjusting and Steamship Mutual P&I Club. Across these posts, he’s gained extensive experience in the marine insurance sector, including marine liability, protection and indemnity, hull and machinery and war.

Based at Markel’s London office, Thomas will report to Tim Warren, Claims Manager – Marine Liability.

Complementing Thomas’s appointment, Markel has promoted Debbie Larkin to Claims Manager – Energy, Liability and Terrorism, effective March 31. In this role, she’ll be responsible for the businesses’ Upstream, Midstream and Downstream Energy claims, along with claims written as part of Markel’s Sustainable Energy, Conventional Power and Terrorism portfolios. She will lead a dedicated team of claims handlers, maintaining fast response times to resolve claims matters and help to streamline processes to offer an enhanced service for clients. 

Larkin has been with Markel for almost two years’, spending this time managing all levels of claims within the organisation’s Energy, Liability and Terrorism business classes. Previously, she spent 15 years as a lawyer advising insurance carriers on coverage, defence and policy wordings – bringing cross-functional expertise to the business.

Meanwhile, Rachel Tighe has been promoted to Claims Manager – Professional Indemnity (PI), effective immediately. In her new position, Tighe’s principal duties will include managing the PI Wholesale Claims team, ensuring they continue to provide a market-leading claims service, ensuring closer broker interaction, and supporting other members in her team with their professional development.

Tighe joined Markel over five years ago, starting at the business as a senior claims adjuster for Markel’s PI team, before progressing to Assistant Claims Manager – PI. As a qualified solicitor with more than 14 years of experience in PI and insurance, Tighe brings a wealth of knowledge to the role of Claims Manager – PI. Prior to her arrival at Markel, Tighe worked as a Claims Solicitor at AmTrust Europe Ltd., where she specialised in solicitors PI, financial services PI and construction PI.  

The third promotion is Natalie Myhill, who will assume the role of Claims Manager – Financial Institutions (FI). Her primary objectives will involve managing the FI Wholesale Claims team by supporting them in resolving complex claims matters for FI and Fintech clients. She will also carry on building strong relationships with Markel’s broker network and collaborate with the organisation’s FI and Fintech underwriting teams – keeping them abreast of important claims trends and developments, so they can continue providing tailored coverage to support their clients’ evolving risk exposures.

Myhill is a seasoned claims professional with 14 years of experience within the London and Lloyd’s markets. She joined Markel in 2020, before receiving two promotions in short succession from Senior Claims Adjuster to Assistant Claims Manager – FI, and now her latest post as Claims Manager – FI and Fintech. Before joining the organisation, she was employed at Sompo International as an AV, Senior Claims Examiner, where she specialised in the Professional Indemnity, D&O and FI classes of business.

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In addition to their day-to-day responsibilities, Myhill and Tighe are co-founders of Markel’s and DAC Beachcroft’s joint initiative ‘Mentoring the Market (MTM)’, which was launched five years ago to support knowledge transfer and professional development among claims and legal professionals within the insurance sphere. It is their positive contributions both inside and outside of Markel which have led to Myhill and Tighe’s recent appointments.

Based at Markel’s London office, Tighe and Myhill will report to Jonathan Pestell, Head of Claims – Specialty, and Larkin will be managed by Thomas Upton, Head of Claims – Marine, Energy and Casualty at Markel.

Speaking of Thomas’s arrival, Warren comments: “Evolving risks, inflationary pressures and ongoing international supply chain disruptions are continuing to bring uncertainty and an increase in claims for marine insurers. Dan’s impressive background and technical expertise in handling complex claims will be of significant importance as we continue to support clients during these uncertain times through our best-in-class claims service and expertise. We look forward to seeing him take our claims service forward in 2025 and beyond.”

Building on Warren’s sentiment, Chris O’Shea, Managing Director – International Claims, says: “Increasing geopolitical tensions, combined with ongoing regulatory and technological developments, are spearheading the demand for insurance cover and a more technical and pragmatic approach to settling claims disputes across various shorttail and longtail lines.

“Throughout their career journeys at Markel, Debbie, Rachel and Natalie have demonstrated exceptional leadership, stakeholder management and delivered a best-in-class service for broker partners, particularly in light of the economic headwinds that the insurance market will continue to face into the future. With their deep sector knowledge and expertise, I’m looking forward to seeing them elevate Markel’s Wholesale Claims operation by leading their respective teams and continuing to deliver a nimble and value add service as we position ourselves for further profitable growth.

O’Shea concludes: “We’re also very excited to enhance our expertise with the addition of Dan Thomas. With the increased pressures from social inflation, litigious plaintiff bars and more complex operating environments, Markel has recognised the need to continue to evolve its claims service to best support our clients. The new Technical claims lead role and Dan’s experience will be invaluable in ensuring we can assist clients when they need us the most.”

About Markel
We are Markel, a leading global specialty insurer with a truly people-first approach. As the insurance operations within Markel Group Inc. (NYSE: MKL), we operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations. Our broad array of capabilities and expertise allow us to create intelligent solutions for the most complex risk management needs. However, it is our people—and the deep, valued relationships they develop with colleagues, brokers and clients—that differentiates us worldwide.

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LAGOS, Nigeria, March 24, 2025 /PRNewswire/ — The global financial landscape is at a crossroads. While digital financial services have brought convenience and accessibility, they have also introduced new challenges—ranging from regulatory uncertainty to inefficiencies in cross-border transactions to fraud risks, while still limiting affordability for many due to high costs. A groundbreaking whitepaper, Regulated Blockchain: Infrastructure for regulated DeFi: Foundation for a golden age in finance, authored by fintech visionary Obi Emetarom, presents a transformative framework that addresses these issues and paves the way for a Regulated Internet of Value—a blockchain-powered financial ecosystem that seamlessly integrates innovation with compliance.

Traditional finance (TradFi) remains encumbered by high costs, cumbersome processes, and regulatory complexity. According to the World Bank, global remittance fees averaged 6.2% in 2023, significantly above the 3% target set by the United Nations Sustainable Development Goals (SDGs), making transactions expensive for millions worldwide. Meanwhile, crypto-based decentralized finance (DeFi) has struggled with trust, adoption, and oversight. In 2023 alone, crypto-related hacks and fraud accounted for over $1.8 billion in losses, according to Chainalysis, underscoring the need for a more secure and regulated approach.

The whitepaper argues that Regulated Blockchain Infrastructure is the missing link, providing a secure, efficient, and transparent foundation that combines the best of both worlds. Regulated Blockchain is a new way of using blockchain technology to democratize financial services innovation while enforcing clear rules set by financial regulators and enabling real-time oversight. It combines the security and speed of blockchain with the oversight needed to guarantee compliance, prevent fraud and ensure trust. Unlike cryptocurrencies that operate outside government control, Regulated Blockchain allows banks, fintech companies, and payment providers to use blockchain for faster, cheaper, and safer transactions— all with necessary compliance and regulatory oversight. This means people and businesses can spend, save and invest money more effectively, banks can deliver their offerings more efficiently, and regulators can prevent illegal activities, all while making financial services more accessible to everyone. By embedding regulatory protocols directly into blockchain technology, financial institutions, fintech companies, and regulators can unlock frictionless financial services, automated compliance, and unprecedented levels of transparency.

“This whitepaper is a call to action for policymakers, financial institutions, and innovators,” said Obi Emetarom, the paper’s author and the CEO and co-founder of Zone. “The world cannot afford to operate on outdated financial models. Regulated Blockchain Infrastructure offers a clear path toward a future where financial services are secure, inclusive, and universally impactful. This is not just about improving efficiency—it’s about reshaping global finance to work for everyone, everywhere.”

The whitepaper outlines how Regulated Blockchain Infrastructure can accelerate economic growth, maximize financial inclusion, and improve regulatory efficiency. For central banks and regulators, it provides a framework for seamless oversight and risk mitigation while supporting innovation. For fintech firms, it presents a structured pathway for adopting blockchain technology without regulatory friction. For investors and global financial institutions, it creates a transparent and secure environment that enhances capital allocation and investment opportunities.

At the same time, the rise of Central Bank Digital Currencies (CBDCs), now being piloted in over 130 countries according to the Atlantic Council, signals growing institutional adoption of blockchain-based financial solutions. The Regulated Blockchain builds on this momentum by integrating programmable compliance, self-custody of assets, and automated financial products to redefine how value is exchanged, stored, and managed globally. Obi’s ultimate vision is for multiple Regulated Blockchains to interconnect and jointly function as a Regulated Internet of Value that will power the fully digital and automated economy of the future

With the accelerating pace of technological change, the time to rethink the foundation of the global economy is now. As policy makers, regulators, financial institution leaders, and technology innovators work together to shape the future of financial services, this Regulated Blockchain whitepaper provides a roadmap to a more efficient, inclusive and impactful financial ecosystem.

Full whitepaper is available here.

About Obi Emetarom

Obi Emetarom is a visionary fintech entrepreneur and the Co-Founder & CEO of Zone, Africa’s fastest growing payment infrastructure company. With over two decades of experience in driving financial technology innovation, Obi has been at the forefront of building transformative solutions that bridge the gap between traditional finance and decentralized systems. From pioneering Africa’s first Banking SaaS platform to launching the continent’s first regulated blockchain network for payments, his work has reshaped the financial services industry.

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