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Markel appoints Grant Smith to lead its Transport and Logistics team in International Specialty

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LONDON, Jan. 8, 2025 /PRNewswire/ — Markel, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that Grant Smith is to head up its Transport and Logistics team, with immediate effect.

In his expanded role, Smith will be responsible for defining the underwriting strategy for the Transport and Logistics team, centered on driving sustainable, profitable growth. Smith will also be tasked with expanding market share, driving product development and further establishing Markel as a market leader in transport and logistics.

Smith takes on his new role in addition to his responsibilities as Director of Marine and Energy Liabilities – a role he was appointed to in August 2024. He will continue to report to Tom Hillier, Managing Director, International Specialty, at Markel.

Hillier commented: “Transport and logistics companies currently face a heightened risk environment, due to global economic contraction, heightened geopolitical tensions and increasing technological and regulatory risks. At times such as these, it’s crucial that companies have the right insurance partner who can help ensure they have comprehensive insurance cover in place that meets their evolving needs.

“I’m therefore delighted that Grant will be leading our Transport and Logistics team. Grant has already made a significant impact and contribution to Markel since joining earlier this year. His leadership, knowledge and experience of underwriting these classes of business will be hugely important as we continue to partner with clients and brokers and help them to navigate this evolving risk landscape.”

Smith has extensive knowledge of the insurance market, having spent more than 17 years of his career working in various underwriting and leadership positions across these classes of business. Prior to joining Markel in August 2024, he worked as Portfolio Manager Specialty at QBE European Operations – a role he held since 2014. Before joining QBE as a Marine and Energy Liability Underwriter in 2011, Smith had spent five years working in various underwriting roles across marine and aviation at Travelers.

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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Crisil unveils a new brand identity

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New logo reflects ability to power mission-critical decisions with confidence

LONDON, Jan. 9, 2025 /PRNewswire/ — Crisil Limited, a provider of ratings, data, research, analytics and solutions, today unveils its new brand logo.

The new brand identity, ‘Crisil’ (earlier written as CRISIL), reinforces the company’s position as a global, insights-driven analytics firm, building on a distinguished legacy of close to four decades.

Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.

Says Amish Mehta, Managing Director & CEO, Crisil, “Our reimagined brand expresses a more progressive vision of our future. It celebrates a pioneering and illustrious past and showcases our commitment to deliver actionable insights to clients. Our people’s analytical rigour and domain expertise will continue to set standards and empower clients to make mission-critical decisions with confidence. The new brand identity guides us in shaping how we present ourselves to the world, influencing every interaction internally and externally to help us deliver exceptional client value.”

The strategic brand transformation positions Crisil’s businesses — Crisil Ratings, Crisil Intelligence (formerly MI&A), Crisil Coalition Greenwich, and Crisil Integral IQ (formerly GR&RS) — under a cohesive identity that offers a consistent and more connected experience for clients around the world.

Crisil Ratings: Offers independent credit ratings in India that empower informed decisions and objective benchmarking by lenders, investors and issuers.

Crisil Intelligence: Offers insights, consulting, technology-driven risk solutions and advanced data analytics, serving clients across government, private and public enterprises, empowering them to make informed decisions.

Crisil Coalition Greenwich: Offers strategic benchmarking, analytics and insights to the financial services industry and specialises in providing unique, high-value and actionable information to help clients measure and drive their business performance.

Crisil Integral IQ: Offers solutions and actionable intelligence to financial institutions around the globe to deliver strategic transformation, optimise risk and drive operational excellence.

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The main logo in bold black is simple yet strong, symbolising excellence and the certainty that we deliver. Complementing this, our business logos now feature a distinct teal colour that conveys the confidence and trust rooted in rigour and domain expertise.

About Crisil Limited

Crisil is a global, insights-driven analytics company. Our extraordinary domain expertise and analytical rigour help clients make mission-critical decisions with confidence.

Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.

Headquartered in India, Crisil is majority owned by S&P Global.

Founded in 1987 as India’s first credit rating agency, our expertise today extends across businesses: Crisil Ratings, Crisil Intelligence, Crisil Coalition Greenwich and Crisil Integral IQ.

Our globally diverse workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East, setting the standards by which industries are measured.

For more information, visit www.Crisil.com

Connect with us: LINKEDIN | TWITTER | YOUTUBE | FACEBOOK

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Disclaimer

This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Crisil. However, Crisil alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.

Crisil has taken due care and caution in preparing this press release. Information has been obtained by Crisil from sources which it considers reliable. However, Crisil does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. Crisil especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.

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MANTRA and DAMAC Group Revolutionize Tokenized Real-World Assets with US$1 Billion Deal

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DUBAI, UAE, Jan. 9, 2025 /PRNewswire/ — MANTRA, a purpose-built layer 1 blockchain for tokenized real-world assets (RWAs) has signed a US$1 billion agreement with DAMAC Group, a prominent investment conglomerate, renowned for its diversified portfolio that spans across key sectors such as real estate development, hospitality, data centres, and more, to tokenize assets in the Middle East.

The collaboration between MANTRA and the DAMAC Group will enable token-based financing for a diverse range of assets within the group’s extensive portfolio of companies, with a minimum value of US$1 billion.

The DAMAC Group assets will be available in early 2025, exclusively on MANTRA Chain, marking a bold step in leveraging blockchain technology to bring greater transparency, security, and accessibility to DAMAC Group’s wide-ranging assets. This milestone partnership is yet another step in MANTRA’s vision to become the preferred ledger of record for real-world assets.

“This partnership with DAMAC Group is an endorsement for the RWA industry. We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities onchain,” said John Patrick Mullin, CEO of MANTRA.

Amira Sajwani, Managing Director of Sales & Development at DAMAC, said, “DAMAC is always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions. Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”

The MANTRA and DAMAC Group partnership follows the recent announcement of MANTRA Chain’s Mainnet launch, which went live in October, representing a significant milestone in the integration of traditional finance with blockchain technology.

About MANTRA:

MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.
Website | Twitter | LinkedIn | Discord  

About DAMAC Group:

The DAMAC Group is the multi-billion-dollar business conglomerate of UAE based Hussain Sajwani. The Group’s investments are divided into seven core areas; real estate, capital markets, hotels & resorts, manufacturing, catering, high-end fashion and data centres.

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Some of the Group’s most notable activities include DAMAC Properties, one of the region’s largest property developers, the acquisition of the Italian fashion house, Roberto Cavalli and luxury Swiss jewellery brand de GRISOGONO, the 50-storey development DAMAC Towers Nine Elms in London and a luxury resort in the Maldives.

In a bid to disrupt the global data centre landscape, the Group recently announced plans to build data centres through its digital infrastructure company, EDGNEX Data Centers by DAMAC, across different global locations.

Today, the Group’s global footprint extends across North America, Europe, Asia, Middle East and Africa. With its vision firmly set on growth and expansion, the Group continues in its quest for diversification and business excellence.

Visit us at www.damacgroup.com

View original content:https://www.prnewswire.co.uk/news-releases/mantra-and-damac-group-revolutionize-tokenized-real-world-assets-with-us1-billion-deal-302346789.html

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EQT to acquire distributed energy company Scale Microgrids

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  • Transaction marks the EQT Transition Infrastructure strategy’s second highly thematic investment over the past month, to be acquired with capital from EQT’s balance sheet
  • Scale Microgrids is a vertically integrated energy company that designs, builds, finances, owns, and operates microgrids and distributed energy assets in North America, with a vision to power the world with distributed energy.
  • EQT will support Scale Microgrids along its existing growth journey through significant investments in its commercial processes, tech platform and project execution capabilities, enabling the Company to own and operate billions of dollars in distributed generation assets.

NEW YORK, Jan. 9, 2025 /PRNewswire/ — EQT is pleased to announce that EQT Transition Infrastructure (“EQT”) has agreed to acquire Scale Microgrids (“Scale” or the “Company”), a leading vertically integrated developer, acquirer, owner, and operator of microgrids and distributed energy resources for commercial & industrial, EV fleet, data center, municipal, university, hospital, and agricultural customers, developers and communities, from Warburg Pincus and other existing shareholders. 

Headquartered in Ridgewood New Jersey, Scale’s portfolio consists of roughly 250 MWs of operating and in-construction assets, with another 2.5 GWs of near-term pipeline. Scale deploys a variety of technologies including solar, battery storage, natural gas generators, fuel cell and combined heat and power, and its portfolio represents one of the largest pure-play microgrid portfolios in the United States.

The transaction marks EQT’s first North American investment out of its recently launched Transition Infrastructure strategy, which is aimed at scaling businesses that enable the transition to clean energy and a more resource-efficient, circular economy. In December 2024, EQT announced the launch of the strategy and its inaugural investment in ju:niz Energy, a battery energy storage system developer and operator.

Jan Vesely, Partner and Head of EQT Transition Infrastructure, said: “We are thrilled that Scale Microgrids will become EQT Transition Infrastructure’s first investment in North America, underscoring our commitment to driving the energy transition globally and supporting a decarbonized and climate-resilient future while addressing the accelerated electricity demand in North America. We see enormous potential to accelerate Scale’s growth and establish it as one of the market’s leading vertically integrated energy companies.”

Ryan Goodman, CEO of Scale Microgrids, said: “Today marks the start of an exciting new chapter for our company. EQT brings a depth of experience, resources, and capital that will enable us to continue pursuing our vision to power the world with distributed energy. I’m incredibly proud of what our team has built, and believe this transaction will enable us to unlock even greater opportunities for the customers, employees, and communities we serve. We’re appreciative of our past shareholders, led by Warburg Pincus, for their support in helping us get to where we are today.” 

Scale addresses several of today’s most pressing grid challenges, including rapid load growth from data centers and fleet electrification, power generation capacity constraints, and increased frequency of grid outages. Scale’s assets add resiliency to power systems, enable faster access to power relative to extended interconnection wait times, and provide cost savings and predictable power compared to the grid while advancing customers’ decarbonization and sustainability objectives.

Ryan Dalton, Managing Director at Warburg Pincus, said: “Scale has achieved incredible growth over the past five years, establishing a strong reputation as one of the leading providers of next generation power infrastructure. The Company has successfully grown to nearly 3 GW of operating, in-construction and near-term pipeline assets, closed multiple financings to fund future project development and maintains a strong customer base. We look forward to watching the Company’s next phase of growth with EQT, and continuing their mission to provide cleaner, cheaper and more reliable power.” 

EQT brings a long-term strategic focus, deep experience in investing across the renewables infrastructure sector, and significant resources, and will focus on making strategic investments, including incremental capital, in Scale’s commercial processes, software systems, and project execution capabilities to continue to develop the business into a best-in-class, multi-technology energy services leader focused on the highest growth market segments, enabling Scale to own and operate billions of dollars in distributed generation assets.

The transaction is subject to customary conditions and approvals. 

EQT was advised by Weil, Gotshal & Manges (legal) and Guggenheim Securities (financial). Scale Microgrids was advised by Latham & Watkins (legal), Nomura Greentech (financial), and Truist Securities (financial).

Contact
EQT Press Office, [email protected]
Warburg Pincus Press Office, Sarah Bloom, [email protected]
Scale Microgrids Press Office, Nicole Green, [email protected]

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This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/eqt/r/eqt-to-acquire-distributed-energy-company-scale-microgrids,c4089266

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