Non-Life Run-Off Deal Momentum Remained Strong in Q1’26, Says PwC
PwC’s Q1 2026 review shows robust activity in the non‑life insurance run‑off market, with nine publicly disclosed deals announced by five acquirers. The disclosed transactions represent roughly $730 million of gross liabilities, including two deals exceeding $250 million and three sub‑$50 million transactions. Europe led the region‑wise breakdown with $383 million in liabilities, while North America and the rest of the world accounted for $67 million and $280 million respectively. PwC predicts additional large‑scale run‑off deals will surface throughout the year, driven by legacy players expanding into ILS partnerships and new geographies such as Australia.
Lou Simpson: The Investor Who Ran GEICO's Portfolio and Quietly Outperformed for Decades
Lou Simpson managed GEICO’s investment portfolio from 1979 to 2010, steering a markedly higher equity allocation than typical insurers. By concentrating 35‑45% of the float in a handful of high‑quality stocks—often just 8‑15 holdings—he generated a 20.3% compound annual return,...
Collect the Cash
Dee Bowden’s new book “Collect the Cash” delivers a practical roadmap for trade‑credit professionals to turn overdue invoices into reliable revenue. Drawing on more than a decade of experience and over $100 million in recoveries, Bowden outlines a “4 Keys to...
ARCHIMED to Acquire Esperion Therapeutics in a $1.1 Billion Deal
ARCHIMED has agreed to acquire Esperion Therapeutics for approximately $1.1 billion, offering shareholders $3.16 in cash per share—a 58% premium—and a contingent value right (CVR) that could add up to $100 million based on future sales milestones. The transaction values Esperion at...
Reinsurance Expansion Supports Aon’s $5bn Q1’26 Revenue
Aon reported $5 billion in first‑quarter 2026 revenue, propelled by a $1.28 billion contribution from its Reinsurance Solutions unit, marking a $305 million year‑over‑year increase and 5% organic growth plus a 4% favorable currency effect. Risk Capital revenue climbed 10% to $3.5 billion, with...
Hamilton Q1’26 Net Income Reaches $134m, CoR Improves to 89.8%
Hamilton Insurance Group reported a Q1 2026 net income of $134 million, up from $80.8 million a year earlier, and an operating profit of $166.7 million. The combined ratio sharpened to 89.8% from 111.6% in Q1 2025, driven by disciplined underwriting and stronger...
Deepfakes Are Now a Board-Level Risk & Regulators Are Watching
Deepfake‑enabled fraud is moving from novelty to enterprise‑level threat, with recent scams costing a Hong Kong firm $25 million and a Singapore company $0.5 million. The UK’s Economic Crime and Corporate Transparency Act (ECCTA) and the updated corporate governance code (Provision 29) now...
Structural Monitoring Systems Q3 Webinar Addendum
Structural Monitoring Systems (ASX: SMN) held a Q3 FY26 investor webinar on April 29, where CEO Rick Freeman detailed a 15% year‑over‑year revenue rise to A$45 million (≈US$30 million) and announced new contracts in Queensland and Vietnam worth A$12 million. The company unveiled...
Zepbound Soars and Lilly Advises Patience on Foundayo
Eli Lilly reported a blockbuster first‑quarter, with revenue jumping 56% to $19.8 billion driven by soaring sales of its obesity drugs Zepbound and Mounjaro. Zepbound alone generated over $4 billion, up about 80% year‑over‑year, while Mounjaro nearly doubled to close to $9 billion. The...
The Triple-Layer Capital Stack: A Smarter Way to Buy a Business
Sebastian Amieva outlines a "Triple‑Layer" capital stack for acquiring a $5 million business without fronting the full price. The structure layers senior secured debt (≈51.6%), seller‑preferred equity or note (≈33.4%), and buyer common equity (≈15%). Co‑investors supply the equity slice, while...
How to Evaluate a Business Before Buying It
Small business acquisitions in the United States rose 5% in 2024, reaching 9,546 closed deals and an enterprise value of $7.59 billion. Buyers increasingly turn to digital marketplaces, where over 3.2 million businesses were listed in 2025, to source opportunities with verified...
For May Day: The System We Need
Warner Bros. Discovery shareholders overwhelmingly approved the Ellison family’s $79 billion takeover, with 1.743 billion votes in favor and only 16.3 million against. The deal saddles the merged company with massive debt, prompting concerns that cost‑cutting, especially payroll reductions, will follow. CEO David...
The Real Reason Why some Companies Are Moving to the US
A UK‑listed firm decided to move its shares to New York after a shareholder shared a study linking weather to earnings‑call tone. The research found that grey, cold days in the UK make CEOs and CFOs sound more subdued, cut quantitative...
Private Credit Hits $2.8 Trillion: The Golden Age of Direct Lending Accelerates:
The global private credit market has surged to roughly $2.8 trillion in assets under management, cementing its role as a core source of capital. Bank retrenchment after Basel III and investors’ hunt for yield have propelled direct‑lending platforms run by firms such...
Private Equity: A Bumpy Q1 for Financial Sponsors
MergerMarket's Q1 2026 M&A report shows global deal volume up 22% YoY to $1.16 trillion, yet financial sponsor activity fell 14% to $143 bn. Infrastructure buyouts, highlighted by AES’s $38.4 bn proposal, accounted for nearly a third of sponsor investments. Exit value slipped 29%...
M&A Earnouts, Risk Allocation, and Post-Closing Incentive Conflicts
The Delaware Supreme Court’s en banc ruling in J&J v. Fortis clarified that earnout provisions are governed strictly by their contractual language, rejecting the use of an implied covenant of good faith to alter risk allocation. The case involved a...
M&A Framework: Case Studies, Examples & More
The Buyer‑Led M&A™ framework flips the traditional seller‑driven model by placing the acquirer in control of every deal phase. It consolidates tools, data, and teams onto a single platform, aligning due‑diligence insights with integration plans from day one. Real‑world cases—from...
UL Solutions (ULS) to Acquire Eurofins Scientific’s E&E Business for ~$670M
UL Solutions Inc. announced a definitive agreement to acquire Eurofins Scientific’s Electrical & Electronics testing business for an enterprise value of approximately €575 million ($670 million). The transaction brings the MET Labs certification mark and an estimated $200 million of 2026 revenue, expanding...
Exxon Mobil Corporation (XOM): Our Calculation of Intrinsic Value
Exxon Mobil’s latest discounted cash flow (DCF) model estimates an intrinsic share price of $94‑96, well below its current market level of roughly $148. The analysis uses an 8% discount rate, a 2% terminal growth assumption, and projects free cash...
Venture Global (VG) Closes $1.75B Senior Secured Credit Facility for Calcasieu Pass LNG Project
Venture Global Inc. closed a $1.75 billion senior secured term loan B facility on April 10, using its Calcasieu Pass Funding subsidiary. The loan, led by Goldman Sachs with Barclays, Natixis and Wells Fargo as co‑arrangers, will fully redeem Stonepeak Bayou Holdings II’s...
From the Microsoft Dynamics 365 Business Central Blogs: Correct Dimension Values; Project Management; Dimension Reporting; Job Queue Failures
Microsoft Dynamics 365 Business Central’s recent blog roundup highlights four practical topics for finance and operations teams. It explains how the built‑in dimension‑correction feature lets users amend posted general‑ledger entries without breaking the audit trail. The series also debates whether...
Quantum Leap Acquisition Corp. (QLEP.U) Prices $200M IPO
Quantum Leap Acquisition Corp. (QLEP.U) priced a $200 million initial public offering and will list its units on the NYSE under the ticker QLEP.U on May 1, 2026. The special purpose acquisition company is targeting investments in artificial intelligence, quantum computing, and...
Big Funds Bet Billions on Mining Supercycle – by Clara Denina, Pratima Desai and Melanie Burton (Reuters – April 30,...
Major fund managers are pouring record capital into mining as AI infrastructure, rising defence spending and a shift from high‑valuation tech stocks drive a perceived commodity supercycle. Mining ETFs saw assets under management double to $87.4 bn by March, while first‑quarter...
CH4 Natural Solutions Corporation (MTNE.U) Prices $200M IPO
CH4 Natural Solutions Corporation announced pricing of its $200 million initial public offering, with units set to begin trading on the NYSE under the ticker MTNE.U on May 1, 2026. The SPAC will seek a target with substantial real‑asset holdings...
LexisNexis Owner RELX Announces Plans to Acquire Legal Tech Company Doctrine
RELX, the parent of LexisNexis, announced plans to acquire Doctrine, a fast‑growing legal‑tech platform. The deal, still subject to regulatory approval, would integrate Doctrine’s AI‑driven research tools into RELX’s European legal‑intelligence suite. By adding Doctrine’s cloud‑based workflow and analytics, RELX...
Research Pipeline Session #18: A Risky Special Situation With A Value + Growth Anchor
A new research note highlights a small‑cap special situation where the company’s balance‑sheet assets appear worth more than its current market price. The discrepancy stems from assets being recorded at historic rather than market values, creating a hidden valuation gap....
All Hail ‘The New 60/40’
Nomura strategist Charlie McElligott argues that the classic 60/40 equity‑bond split is losing its hedge value as bond‑equity correlations deteriorate. He proposes a “new 60/40” barbell that pairs high‑growth semiconductor and tech exposure with energy stocks, which he views as the...
What Is Really Going on With Private Credit
The $1.7 trillion private‑credit market is not on the brink of collapse; the current turmoil is confined to a handful of retail‑focused vehicles and some SaaS‑related loan exposure. Illiquid BDCs and interval funds with redemption gates have exposed liquidity mismatches, while...
Norse Narrows Losses As It Explores Potential Future Options
Norse Atlantic Airways reported a narrower 2025 loss, with revenue climbing to $734 million and EBITDAR turning positive at $56.5 million. After a $97 million operating loss in 2024, the airline posted a $20.1 million operating loss and a $61.9 million net loss, a 55%...
15 Clicks to Zero: How EFG International Is Scaling ETF Trading with Automation
EFG International, a private‑banking group with $233.6 billion in assets, teamed with Bloomberg to automate its ETF execution workflow. By integrating Bloomberg EMSX, RFQe, Rule Builder and BTCA with its native OMS, the bank reduced manual RFQ steps from 15 clicks...
Avolon Rides Aircraft Shortage to Strong Q1
Avolon posted a strong first‑quarter 2026, with net income rising 32% to $191 million and lease revenue up 12% to $762 million. Operating cash flow surged 48% to $540 million, underscoring robust cash generation from its leasing portfolio. The company secured $2.1 billion of...
The Hanover Announces Q1’26 Net Operating Income of $186.8m, CoR at 91.7%
The Hanover Insurance Group reported Q1 2026 net operating income of $186.8 million, a 46% jump from the prior year. The combined ratio improved to 91.7%, down from 94.1% in Q1 2025, with catastrophe losses of $98.9 million adding 6.3 points. Net premiums written...
Enko Capital-Managed Rwanda SME Fund Receives $30m Anchor Commitment
The Rwanda Social Security Board (RSSB) has anchored the first close of the $100 million Rwanda SME Growth Fund with a $30 million commitment. Managed by Enko Capital, the fund will provide long‑term, flexible growth capital in local currency to Rwandan small...
Seagate Technology: Fiscal 3Q26 Financial Results
Seagate Technology reported fiscal Q3 2026 revenue of $3.11 billion, up 44% year‑over‑year and 9.9% sequentially, driven by higher‑capacity, AI‑fuelled storage demand. GAAP gross margin reached 46.5% and non‑GAAP margin 47.0%, while GAAP EPS was $3.27 and non‑GAAP EPS $4.10. The company...
Remarks by Chairman Atkins on Capital Formation, IPO Incentives, and the SEC’s Regulatory Approach
Chairman Paul S. Atkins warned that the U.S. IPO pipeline has shrunk about 40% since the mid‑1990s, blaming complex regulations and delayed public offerings. He highlighted that most companies now wait until a Series E round before going public, limiting capital...
Speech by Commissioner Peirce on Materiality, Disclosure Limits, and the SEC’s Role in Capital Formation
Commissioner Hester Peirce urged the SEC to streamline IPO disclosures and lower compliance costs, especially for small issuers. She announced a fresh review of Regulation S‑K and clarified that mandatory arbitration clauses will not impede accelerated registration effectiveness. Peirce raised questions...
Alesi Surgical Secures £7m to Tackle Hazardous Surgical Smoke in Operating Theatres, Led by IW Capital
Alesi Surgical announced a £7 million (≈ $9 million) funding round led by IW Capital, aimed at scaling its FDA‑approved Ultravision2 smoke‑management platform worldwide. The technology uses electrostatic precipitation to eliminate surgical smoke up to 225‑times faster than conventional suction, improving visibility and...
Easing Capital, Reviving Risk: The Quiet Return of Too Big to Fail
Regulators are rolling back capital requirements for the world’s largest banks, framing the move as a technical tweak rather than a policy shift. The change lowers the cushion that banks must hold against losses, effectively easing constraints on institutions with...
Suja Life (SUJA) IPO Deck
Suja Life, the cold‑pressed juice and functional‑drink brand, has released its IPO deck ahead of a planned public offering. The filing highlights rapid revenue growth, a target of $500 million in sales by 2028, and a strategy to broaden national distribution...
The Key Podcast: Why Match Matters in M&A
The latest episode of Inside Higher Ed’s podcast "The Key" highlights findings from the 2026 IHE Survey of College and University Presidents, showing that internal discussions about mergers and acquisitions remain steady, with private nonprofit leaders far more engaged than...
Nio's Battery Operator Mirattery Expands Financing with 1 Billion Yuan Green ABN
Nio's battery‑asset manager Mirattery issued a second green ABN tranche of 1 billion yuan (≈US$146 million) in April 2026, bringing its cumulative interbank issuance to 4 billion yuan (≈US$585 million). The notes are split into four senior classes with coupons ranging from 2.00% to 5.50%, all...
NVIDIA Fund + Atlassian Join $50m Legora Investment
Legora, the Stockholm‑based legal AI firm, secured a $50 million Series D extension, bringing the round to $600 million and lifting total capital raised to $866 million. The latest funding values the company at $5.6 billion and adds NVIDIA’s venture arm NVentures and Atlassian among...
How Leading Accounting Firms Turn Risk Intelligence Into a Growth Advantage
Leading accounting firms are turning risk intelligence into a strategic growth engine. By embedding continuous risk assessment—driven by standards such as ISQM 1, the UK FRC, and PCAOB guidance—into business development, staffing, and service delivery, they can evaluate opportunities faster and...
Private Equity Is Coming for Law Firms—And the Rules Aren’t Ready
In January 2026 personal‑injury firm Dudley DeBosier announced a partnership with Orion Legal, using a management services organization (MSO) to let a private‑equity vehicle run its technology, billing and marketing while attorneys retain firm ownership. The move mirrors a broader...
West Enclave Merger Corp. (WENC.U) Prices $100M IPO
West Enclave Merger Corp. priced a $100 million initial public offering and will list its units on the NYSE under the ticker WENC.U on April 30, 2026. The SPAC is led by Emilio Mahuad Quijano and Adrian Otero Rosiles, with a board that...
A Liquidity Reckoning: When Access Outpaces Infrastructure
In the first quarter of 2026 a wave of retail redemptions forced major business development companies and interval funds—including Blackstone, BlackRock, Blue Owl and Ares—to trigger gating mechanisms, exposing a structural mismatch between semi‑liquid product promises and the illiquid assets...
Forefront Tech Holdings Acquisition Corp. (FTHAU) Prices $100M IPO
Forefront Tech Holdings Acquisition Corp. (FTHAU) announced pricing of its $100 million initial public offering. The SPAC’s units will start trading on Nasdaq under the ticker “FTHAU” on April 30, 2026. It aims to merge with a technology company focused on blockchain‑enabled...
General Catalyst Global Resilience Merger Corp. (GCGRU) Prices $350M IPO
General Catalyst Global Resilience Merger Corp. (GCGRU) priced its $350 million SPAC offering and will begin trading on Nasdaq on April 30, 2026. The vehicle targets the Global Resilience sector, emphasizing aerospace, defense, national security, and industrial manufacturing. It will operate under...
RRE Ventures Acquisition Corp. (RREVU) Prices $250M IPO
RRE Ventures Acquisition Corp. has priced its $250 million special purpose acquisition company (SPAC) and will begin trading on Nasdaq under the ticker RREVU on April 30, 2026. The SPAC seeks a merger partner in defense, space, robotics, quantum computing, or professional sports,...
Mountain Crest Acquisition 6 Corp. (MCAHU) Prices $60M IPO
Mountain Crest Acquisition 6 Corp (NASDAQ:MCAHU) priced a $60 million initial public offering and will begin trading on Nasdaq on April 30, 2026. The SPAC, led by Chairman, CEO and CFO Suying Liu, is targeting a generalist, international acquisition. Board members include Nelson...