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Partnership to focus on Alzheimer’s disease, breast cancer, diabetes, obesity
Centene Corporation (NYSE: CNC) and Washington University School of Medicine in St. Louis announced today a partnership to transform and accelerate research into treatments for Alzheimer’s disease, breast cancer, diabetes and obesity. All are common, debilitating and often deadly diseases that affect millions of people worldwide, at all levels of income.
As part of the partnership, Centene will fund up to $100 million over 10 years in research at Washington University. The funding will galvanize the School of Medicine’s Personalized Medicine Initiative, which aims to develop customized disease treatment and prevention for patients. Innovations that arise from the initiative will be commercialized through the ARCH Personalized Medicine Initiative, a joint venture between the School of Medicine and Centene. Reflecting the philosophy of both institutions, ARCH is designed to accelerate the development and implementation of affordable and accessible health solutions to the public using the intellectual property developed from this research.
“We share the goal of helping to improve the health of our communities through research, education and customized treatment for people suffering from chronic illnesses,” said Michael F. Neidorff, chairman and CEO for Centene. “We believe personalized medicine is the path to ensure patients get the targeted health care they need to fight disease, and we look forward to partnering with such a renowned medical school to initially focus on four diseases that impact millions of Americans, including many of our health plan members.”
The investment will leverage the university’s cutting-edge research and biomedical capabilities, including state-of-the-art technologies such as CRISPR, and internationally known scientists in the areas of the microbiome, immunomodulatory therapies, cancer genomics, neurodegeneration, cellular reprogramming, chemical biology, informatics and others. In addition, the funds will strengthen resources at more than a dozen centers and institutes at the School of Medicine, including the Edison Family Center for Genome Sciences & Systems Biology; the Andrew M. and Jane M. Bursky Center for Human Immunology and Immunotherapy Programs; Siteman Cancer Center at Barnes-Jewish Hospital and Washington University School of Medicine; the Elizabeth H. and James S. McDonnell III Genome Institute; the Institute for Informatics; and the Center of Regenerative Medicine.
“We will be bringing together world-class resources and intellectual horsepower from every basic and clinical scientific discipline to urgently accelerate the timeline for developing therapies that are more precisely targeted, with aspirations to do so in the next five to seven years,” said David H. Perlmutter, MD, executive vice chancellor for medical affairs, the George and Carol Bauer Dean, and the Spencer T. and Ann. W. Olin Distinguished Professor at the School of Medicine. “I believe the most important advances that will evolve from the personalized medicine paradigm will come from harnessing genome engineering technologies to build better model systems of each human disease, and utilizing deep genomic and clinical characterization to enable more effective and less expensive clinical trials.”
Perlmutter continued, “The partnership supports our global leadership in understanding sequence variants in biological systems that will pave the way for new therapeutic targets, as well as learning more about our own innate biology. Once personalized medicine becomes common practice, health-care workers may examine each patient’s genome — as well as information regarding his or her environment, lifestyle and social network — to identify a customized, affordable approach to optimizing health and medical care.”
Centene and Washington University will host a press briefing at a later date to be determined.
About Centene Corporation
Centene Corporation, a Fortune 100 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children’s Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long-Term Services and Supports (LTSS), in addition to other state-sponsored programs, Medicare (including the Medicare prescription drug benefit commonly known as “Part D”), dual eligible programs and programs with the U.S. Department of Defense. Centene also provides healthcare services to groups and individuals delivered through commercial health plans. Centene operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health management, care management software, correctional healthcare services, dental benefits management, commercial programs, home-based primary care services, life and health management, vision benefits management, pharmacy benefits management, specialty pharmacy and telehealth services.
Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene’s investor relations website, http://www.centene.com/investors.
About Washington University School of Medicine in St. Louis
Washington University School of Medicine’s 1,500 faculty physicians also are the medical staff of Barnes-Jewish and St. Louis Children’s hospitals. The School of Medicine is a leader in medical research, teaching and patient care, ranking among the top 10 medical schools in the nation by U.S. News & World Report. Through its affiliations with Barnes-Jewish and St. Louis Children’s hospitals, the School of Medicine is linked to BJC HealthCare.
Cautionary Statement on Forward-Looking Statements
All statements, other than statements of current or historical fact, contained in this communication are forward-looking statements. Without limiting the foregoing, forward-looking statements often use words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “seek,” “target,” “goal,” “may,” “will,” “would,” “could,” “should,” “can,” “continue” and other similar words or expressions (and the negative thereof). We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and Centene Corporation is including this statement for purposes of complying with these safe-harbor provisions. In particular, these statements include, without limitation, statements about Centene’s future operating or financial performance, market opportunity, growth strategy, competition, expected activities in completed and future acquisitions, including statements about the impact of Centene’s proposed acquisition of WellCare Health Plans, Inc. (the “WellCare Transaction”), Centene’s recent acquisition (the “Fidelis Care Transaction”) of substantially all the assets of New York State Catholic Health Plan, Inc., d/b/a Fidelis Care New York (“Fidelis Care“), investments and the adequacy of Centene’s available cash resources.
These forward-looking statements reflect Centene’s current views with respect to future events and are based on numerous assumptions and assessments made by us in light of Centene’s experience and perception of historical trends, current conditions, business strategies, operating environments, future developments and other factors Centene believes appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties and are subject to change because they relate to events and depend on circumstances that will occur in the future, including economic, regulatory, competitive and other factors that may cause Centene’s or its industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions.
All forward-looking statements included in this filing are based on information available to us on the date of this communication. Except as may be otherwise required by law, Centene undertakes no obligation to update or revise the forward-looking statements included in this communication, whether as a result of new information, future events or otherwise, after the date of this filing. You should not place undue reliance on any forward-looking statements, as actual results may differ materially from projections, estimates, or other forward-looking statements due to a variety of important factors, variables and events including, but not limited to, the following: (i) the risk that regulatory or other approvals required for the WellCare Transaction may be delayed or not obtained or are obtained subject to conditions that are not anticipated that could require the exertion of management’s time and Centene’s resources or otherwise have an adverse effect on Centene; (ii) the risk that Centene’s stockholders do not approve the issuance of shares of Centene common stock in the WellCare Transaction; (iii) the risk that WellCare’s stockholders do not adopt the merger agreement; (iv) the possibility that certain conditions to the consummation of the WellCare Transaction will not be satisfied or completed on a timely basis and accordingly the WellCare Transaction may not be consummated on a timely basis or at all; (v) uncertainty as to the expected financial performance of the combined company following completion of the WellCare Transaction; (vi) the possibility that the expected synergies and value creation from the WellCare Transaction will not be realized, or will not be realized within the expected time period; (vii) the exertion of management’s time and Centene’s resources, and other expenses incurred and business changes required, in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for the WellCare Transaction; (viii) the risk that unexpected costs will be incurred in connection with the completion and/or integration of the WellCare Transaction or that the integration of WellCare will be more difficult or time consuming than expected; (ix) the risk that potential litigation in connection with the WellCare Transaction may affect the timing or occurrence of the WellCare Transaction or result in significant costs of defense, indemnification and liability; (x) a downgrade of the credit rating of Centene’s indebtedness, which could give rise to an obligation to redeem existing indebtedness; (xi) unexpected costs, charges or expenses resulting from the WellCare Transaction; (xii) the possibility that competing offers will be made to acquire WellCare; (xiii) the inability to retain key personnel; (xiv) disruption from the announcement, pendency and/or completion of the WellCare Transaction, including potential adverse reactions or changes to business relationships with customers, employees, suppliers or regulators, making it more difficult to maintain business and operational relationships; and (xv) the risk that, following the WellCare Transaction, the combined company may not be able to effectively manage its expanded operations.
Additional factors that may cause actual results to differ materially from projections, estimates, or other forward-looking statements include, but are not limited to, the following: (i) Centene’s ability to accurately predict and effectively manage health benefits and other operating expenses and reserves; (ii) competition; (iii) membership and revenue declines or unexpected trends; (iv) changes in healthcare practices, new technologies, and advances in medicine; (v) increased healthcare costs, (vi) changes in economic, political or market conditions; (vii) changes in federal or state laws or regulations, including changes with respect to income tax reform or government healthcare programs as well as changes with respect to the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act, collectively referred to as the Affordable Care Act (“ACA”), and any regulations enacted thereunder that may result from changing political conditions or judicial actions, including the ultimate outcome of the District Court decision in “Texas v. United States of America” regarding the constitutionality of the ACA; (viii) rate cuts or other payment reductions or delays by governmental payors and other risks and uncertainties affecting Centene’s government businesses; (ix) Centene’s ability to adequately price products on federally facilitated and state-based Health Insurance Marketplaces; (x) tax matters; (xi) disasters or major epidemics; (xii) the outcome of legal and regulatory proceedings; (xiii) changes in expected contract start dates; (xiv) provider, state, federal and other contract changes and timing of regulatory approval of contracts; (xv) the expiration, suspension, or termination of Centene’s contracts with federal or state governments (including but not limited to Medicaid, Medicare, TRICARE or other customers); (xvi) the difficulty of predicting the timing or outcome of pending or future litigation or government investigations; (xvii) challenges to Centene’s contract awards; (xviii) cyber-attacks or other privacy or data security incidents; (xix) the possibility that the expected synergies and value creation from acquired businesses, including, without limitation, the Fidelis Care Transaction, will not be realized, or will not be realized within the expected time period; (xx) the exertion of management’s time and Centene’s resources, and other expenses incurred and business changes required in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for acquisitions, including the Fidelis Care Transaction; (xxi) disruption caused by significant completed and pending acquisitions, including, among others, the Fidelis Care Transaction, making it more difficult to maintain business and operational relationships; (xxii) the risk that unexpected costs will be incurred in connection with the completion and/or integration of acquisition transactions, including, among others, the Fidelis Care Transaction; (xxiii) changes in expected closing dates, estimated purchase price and accretion for acquisitions; (xxiv) the risk that acquired businesses, including Fidelis Care, will not be integrated successfully; (xxv) the risk that, following the Fidelis Care Transaction, Centene may not be able to effectively manage its expanded operations; (xxvi) restrictions and limitations in connection with Centene’s indebtedness; (xxvii) Centene’s ability to maintain the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that can impact revenue and future growth; (xxviii) availability of debt and equity financing, on terms that are favorable to us; (xxxix) inflation; and (xxx) foreign currency fluctuations.
This list of important factors is not intended to be exhaustive. We discuss certain of these matters more fully, as well as certain other factors that may affect Centene’s business operations, financial condition and results of operations, in Centene’s filings with the Securities and Exchange Commission (the “SEC”), including Centene’s Annual Report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Due to these important factors and risks, Centene cannot give assurances with respect to Centene’s future performance, including without limitation Centene’s ability to maintain adequate premium levels or Centene’s ability to control its future medical and selling, general and administrative costs.
SOURCE: Centene Corporation
Fintech PR
J.S. Held Welcomes Technical Expert Christopher Furlough and Releases White Paper on Software and Firmware Reverse Engineering & Testing
Christopher Furlough oversees software and firmware technical services for Ocean Tomo, a part of J.S. Held.
JERICHO, N.Y., March 19, 2024 /PRNewswire/ — Global consulting firm J.S. Held, proudly celebrating 50 transformative years, welcomes software and firmware technical expert Christopher Furlough to Ocean Tomo, a part of J.S. Held. He joins a specialized technical team that combines technical excellence, patent expertise, and business acumen to partner with in-house corporate intellectual property (IP) groups, outside counsel, and financial institutions to dig into complex systems. “Christopher Furlough’s 30+ years’ experience in embedded firmware extraction and analysis, software code analysis, coding/processing firmware extraction and analysis, system and applications software analysis, and enterprise data flow analysis across a variety of programming languages is in high demand by our leading global tech company clients”, shares Chris Wichser, Senior Managing Director who oversees the technical specialty service experts for the firm, speaking from the IPBC Europe 2024 in Munich.
Christopher Furlough’s experience across software applications, including processor security, operating systems, networking, user interfaces, and device drivers, across a diverse array of products and software has resulted in deep technical understanding. Chris Wichser adds, “His ability to understand and analyze devices and systems requires a system-level approach where hardware analysis (such as circuit analysis or process analysis) complements a system-level analysis, such as functional testing, firmware analysis, and software analysis.” Chris Wichser added, “Christopher understands how hardware and firmware/software work together to perform desired functions or tasks, which is an important enabler to unlock the value of the intellectual property in the systems.”
“Identifying evidence of Use (EoU) for patented technologies can be intricate and potentially costly,” shares Christopher Furlough. “This is particularly true when considering the deeply embedded nature of patented functionalities within products and methodologies. Accessing information regarding these functionalities is often challenging, requiring specialized techniques and tools,” he adds. In his paper, Software and Firmware Analysis, Reverse Engineering & Testing for Establishing Evidence of Use or Non-Use, software/firmware development, and reverse engineering expert Christopher Furlough explores three primary approaches that are commonly employed in the quest for EoU:
- Analysis of publicly available information
- Device, system, and applications testing
- Reverse Engineering
The paper is available to download here: https://oceantomo.com/download-software-firmware-white-paper/.
The journey to uncover EoU for patented technologies begins with assembling the required expertise, including IP, testing, and/or RE, as well as technical expertise in the technology of interest. This multifaceted approach blends analysis of publicly available data, rigorous testing, and sophisticated reverse engineering techniques, contributing to a comprehensive understanding of patented functionalities and their implementation within products and methodologies.
Through the IEEE and IEEE-CS, Christopher’s commitment to supporting the education of the next generation of software & firmware technical experts, supporting enhanced understanding of how hardware and firmware/software work together to perform desired functions or tasks which is an important enabler to unlocking the value of intellectual properties in the systems (including embedded systems) area. Learn more about the dedicated and entrepreneurial experts who help transform J.S. Held, explore our story, and celebrate this momentous milestone, our 50 & Forward celebration, with us at jsheld.com.
About J.S. Held
J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets. The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.
J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held, its affiliates and subsidiaries are not law firms and do not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB, a part of J.S. Held, member FINRA/ SIPC or Ocean Tomo Investment Group, LLC, a part of J.S. Held, member FINRA/ SIPC. All rights reserved.
Contact:
Kristi L. Stathis
Global Public Relations
J.S. Held
+1 786 833 4864
[email protected]
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The Next Great Biotech Boom Has Arrived
FN Media Group Presents GlobalInvestmentDaily.com Market Commentary
LONDON, March 19, 2024 /PRNewswire/ — The U.S. Federal Drug Administration (FDA) has now designated psilocybin, a classical compound found in “magic mushrooms,” as a “breakthrough therapy” for the treatment of major depressive disorder three times. And the world’s largest clinical trial ever into the use of psilocybin for treating depression at London hospital in what scientists are hailing as a “milestone” in mental health research. Mentioned in today’s commentary includes: Johnson & Johnson (NYSE: JNJ), COMPASS Pathways plc (NASDAQ: CMPS), Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), Atai Life Sciences N.V. (NASDAQ: ATAI), AbbVie Inc. (NYSE: ABBV).
This new frontier in treatment has kickstarted a multi-trillion-dollar industry geared at fixing the brain through therapy.
Johnson and Johnson has gone all in on its fastest-growing drug for depression, SPRAVATO, which is the only FDA-approved psychedelic medicine on the market. In its Q4 2023 earnings released in January, JNJ reported a 74.1% increase in sales of SPRAVATO worldwide and views the drug as its next billion-plus product.
And some of the core team members behind the development of the SPRAVATO have now joined a small, but emerging NYSEAmerican-listed company, CYBIN (CYBN, CYBN.NE).
CYBIN has now been granted “Breakthrough Therapy Designation”, and is the first adjunctive psychedelic-based therapy for Major Depressive Disorder (MDD) ever to receive this FDA designation.
Oppenheimer initiated coverage on CYBN last year, saying it was encouraged by the results so far and believed the stock would have room to run further with new results. It has a price target of $4.
H.C.Wainwright & Co. took it further, with a price target of US $10.00 per share, after the recent Small Pharma acquisition.
But with impressive Phase 2 results showing remission after only two doses and a coveted FDA designation, this small company is now poised for much greater attention from investors.
Phase 2: Behind the Breakthrough Therapy Designation
CYBIN is developing differentiated, next-generation therapeutics that hope to offer fast, sustained therapeutic effects that are safe and tolerable, with efficacy in only 1-2 doses and short in-clinic times.
The company is on the leading edge of transformational psychedelic therapeutics, developing novel and proprietary therapeutics to improve clinical outcomes and patients’ mental health and well-being. The emerging biopharmaceutical company already has clinical validation of the novel, proprietary CYB003 molecule, which demonstrates a rapid-acting and robust psychedelic profile at a low dose. And it’s been pounding the patent pavement, too.
In August, CYBIN agreed to acquire Small Pharma Inc in an all-share transaction that creates an international clinical-stage leader in novel psychedelic therapeutics. The companies’ combined portfolios, at closing, will include two proprietary, advanced clinical programs in development for depression and anxiety disorders with demonstrated safety and efficacy. The combined portfolio creates the industry’s largest, most advanced, well protected DMT program.
The combined company has the intellectual property strength of 29 patents granted and 158 patents pending in the psychedelic drug development sector. That is the largest portfolio in the industry.
Phase 2 topline efficacy data for the company’s CYBOO3 was one of the biggest drivers of value for CYBIN in the near-term, and the results were even better than expected.
Now that it’s been granted “Breakthrough Therapy Designation”, CYBIN is targeting the potential for its CYB003 to achieve “Best-in-Class Status”, and it’s confident it has a solid shot at this.
In targeting depression, CYBIN’s CYB003 is hoping to offer a lifeline to a chronic illness that victimizes some 280 million people around the world. They are also targeting what is now recognized as the leading cause of disability in the world, which costs the global economy an estimated $1 trillion in lost productivity annually.
Nowhere But Up: The Next Near-Term Catalysts
CYBIN plans to initiate its Phase 3 study of CYBOO3 in MDD in the middle of this year, with the Phase 2 study of CYB004 in Generalized Anxiety Disorder (GAD) launched on March 15.
For the Phase 2 proof-of-concept study of CYB004, CYBIN is using its proprietary DMT molecule, which was developed for the treatment of GAD, following the FDA’s clearance of its new drug application in January.
“We are building on foundational investigative work from our Phase 2a trial of intravenous SPL026 (DMT) which showed preliminary evidence of effectiveness treating anxiety with rapid onset of antidepressant effects and reduction in anxiety scores,” Drysdale said in a press release.
“The molecular structure of psilocybin, a naturally occurring psychedelic compound found in ‘magic mushrooms,’ allows it to penetrate the central nervous system and the scientific and medical experts are just beginning to understand its effects on the brain and mind and its potential as therapeutics for mental illnesses,” according to Johns Hopkins Center for Psychedelic and Consciousness Research. This is a space where proprietary IP is absolutely essential, and Cybin now has 29 patents granted and 158 patents pending.
CYBIN (CYBN, CYBN.NE) is a clear leader in the biotech race for an alternative to the antidepressant empire, and now it has breakthrough therapy status, and is the first adjunctive therapy known to achieve this for massive depressive disorder.
Big Pharma is Racing for a Piece of the Pie
Johnson & Johnson (JNJ) is a global leader in healthcare, with a diverse portfolio that spans pharmaceuticals, medical devices, and consumer health products. Within this vast array, Janssen, its pharmaceutical branch, has made significant strides in mental health with esketamine, marketed as Spravato. This nasal spray, a derivative of the anesthetic ketamine, represents a significant breakthrough, gaining FDA approval for use in treatment-resistant depression. The approval of Spravato underscores J&J’s commitment to addressing complex mental health challenges.
AbbVie (ABBV) emerged as a standalone biopharmaceutical entity following its split from Abbott Laboratories in 2013. Focused on discovering treatments for a wide range of diseases, including rheumatoid arthritis and various cancers, AbbVie’s acquisition of Allergan expanded its reach into the burgeoning field of psychedelics for mental health. Allergan, known for its pioneering work in this area, has enriched AbbVie’s pipeline with potential psychedelic-based therapies.
Atai Life Sciences (ATAI) is at the forefront of transforming mental health care, prioritizing the development of treatments for mental health disorders. Atai’s innovative strategy encompasses a wide array of compounds, including psychedelics. The company’s collaborative approach, partnering with leading firms to accelerate the development of groundbreaking therapies, exemplifies its commitment to pioneering advancements in mental health treatment.
Compass Pathways (CMPS) is pioneering the therapeutic use of psilocybin, focusing its research efforts on addressing treatment-resistant depression. The company’s clinical trials and research initiatives are part of a larger mission to establish psilocybin therapy as a validated treatment option, highlighting the potential of psychedelics to offer profound therapeutic benefits. Compass’s dedication to rigorous scientific inquiry and ethical research practices positions it as a leader in the psychedelic research community, contributing valuable insights that could reshape mental health care.
MindMed (MNMD) tands as an innovator in the neuro-pharmaceutical industry, delving into the therapeutic potential of psychedelics for treating a range of mental health conditions. MindMed’s exploratory work with substances such as LSD, MDMA, DMT, and psilocybin is driven by a vision to unlock new treatment pathways for conditions like anxiety, depression, and addiction. Recent advancements in MindMed’s research highlight the company’s role in pioneering the use of psychedelics as therapeutic agents, underscoring the potential of these substances to revolutionize mental health care.
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Alan Kirshner, former Chairman and CEO of Markel Group, passes away
RICHMOND, Va., March 19, 2024 /PRNewswire/ — Alan Kirshner, 88, former Chairman of the Board and Chief Executive Officer (CEO) of Markel Group Inc. (NYSE: MKL), passed away on March 17, 2024.
Kirshner joined Markel in 1960 and played a substantial role in transforming the company from a privately held regional insurer to a family of businesses with global reach. He joined the Board of Directors in 1978 and became Chairman and CEO in 1986, the same year Markel became a public company. Kirshner served as CEO through 2015, became Executive Chairman in 2016, and then became Chairman Emeritus in 2020. Over that period, the company grew from less than 300 associates to more than 20,000 today.
“This is a sad day,” said CEO Tom Gayner. “It’s hard to put into words the legacy and impact of Alan Kirshner. He was as savvy and hard-working a leader as anyone I ever met, but it was his commitment to people that really set him apart. Alan was by nature a builder and dedicated his life to building a company that could serve others for generations to come. In doing so, he taught us that there is nothing more important in business and life than treating people with kindness and respect. It’s a lesson and legacy that we’ll never forget.”
Kirshner was the lead author of a cultural creed that the company calls the Markel Style. The statement, which stands unchanged since being written in 1986, captures the values that define Markel Group’s culture—including their zealous pursuit of excellence, sense of humor, honesty, disdain for bureaucracy, and commitment to communities. The latter of which Kirshner reinforced with his own community investments, including starting the Faison School for autistic children and the Partnership for the Future program to help students in underserved communities attend college.
“Words alone cannot express my gratitude for having been his friend and partner for the last 64 years,” said Vice Chairman Tony Markel. “He was the consummate leader…kind, caring, generous, respectful, and above all a great listener. As the author of the Markel Style, his legacy is assured endurance.”
Chairman of the Board Steve Markel added, “I worked side-by-side with Alan for nearly five decades. He was a visionary, challenging leadership and the organization to embrace change, innovate, create, and strive for a better way. Through the Markel Style, his spirit and principles will live forever within Markel Group.”
About Markel Group
Markel Group Inc. (NYSE: MKL) is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more. The leadership teams of these businesses operate with a high degree of independence, while at the same time living the values that we call the Markel Style. Our specialty insurance business sits at the core of our company. Through decades of sound underwriting, the insurance team has provided the capital base from which we built a system of businesses and investments that collectively increase Markel Group’s durability and adaptability. It’s a system that provides diverse income streams, access to a wide range of investment opportunities, and the ability to efficiently move capital to the best ideas across the company. Most importantly though, this system enables each of our businesses to advance our shared goal of helping our customers, associates, and shareholders win over the long term. Visit mklgroup.com to learn more.
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