Latest news with #DACH
National Post
17 hours ago
- Business
- National Post
Berkshire Hathaway Specialty Insurance Welcomes Franco Masciovecchio as Country Manager, Switzerland
Article content BOSTON & ZURICH — Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has named Franco Masciovecchio as Country Manager for Switzerland. Article content 'We are pleased to continue to expand our leadership team in the DACH region. Franco's decades of underwriting experience will be instrumental as we continue to expand, bringing our technical acumen, financial strength and CLAIMS IS OUR PRODUCT philosophy to Switzerland and beyond,' said Andreas Krause, Head of DACH, BHSI. Article content Over more than three decades in the insurance industry, Franco has held numerous senior-level positions. He was most recently Head of Property & Construction, Europe, at another insurer. Franco is based in Zurich and can be reached at Article content BHSI in Switzerland, currently offers property, casualty, product liability, executive and professional lines and cyber insurance as well as multinational solutions, with a focus on commercial and industrial risks in the corporate and upper middle market segments. Article content In Switzerland, Berkshire Hathaway Specialty Insurance (BHSI) trades under Berkshire Hathaway International Insurance Limited (BHIIL). BHIIL is an incorporated England and Wales limited liability company, Registration Number 3230337 and Registered Office at 8 Fenchurch Place, 4th Floor, London EC3M 4AJ, United Kingdom. BHIIL is an affiliate of Berkshire Hathaway Specialty Insurance Company (BHSIC), a Nebraska USA domiciled corporation, which provides commercial property, casualty, healthcare professional liability, executive and professional lines, transactional liability, surety, marine, travel, programs, accident and health, medical stop loss, homeowners, and multinational insurance. BHSIC and BHIIL are subsidiaries of Berkshire Hathaway's National Indemnity group of insurance companies, which hold financial strength ratings of A++ from AM Best and AA+ from Standard & Poor's. Based in Boston, Berkshire Hathaway Specialty Insurance has offices in Atlanta, Boston, Chicago, Columbia, Dallas, Houston, Indianapolis, Irvine, Los Angeles, New York, Plymouth Meeting, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Barcelona, Brisbane, Brussels, Calgary, Cologne, Dubai, Dublin, Frankfurt, Hamburg, Hong Kong, Kuala Lumpur, London, Lyon, Macau, Madrid, Manchester, Melbourne, Milan, Munich, Paris, Perth, Singapore, Stockholm, Sydney, Toronto, and Zurich. Article content Article content Article content Article content Article content
Associated Press
17 hours ago
- Business
- Associated Press
Berkshire Hathaway Specialty Insurance Welcomes Franco Masciovecchio as Country Manager, Switzerland
BOSTON & ZURICH--(BUSINESS WIRE)--Aug 11, 2025-- Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has named Franco Masciovecchio as Country Manager for Switzerland. 'We are pleased to continue to expand our leadership team in the DACH region. Franco's decades of underwriting experience will be instrumental as we continue to expand, bringing our technical acumen, financial strength and CLAIMS IS OUR PRODUCT philosophy to Switzerland and beyond,' said Andreas Krause, Head of DACH, BHSI. Over more than three decades in the insurance industry, Franco has held numerous senior-level positions. He was most recently Head of Property & Construction, Europe, at another insurer. Franco is based in Zurich and can be reached at [email protected]. BHSI in Switzerland, currently offers property, casualty, product liability, executive and professional lines and cyber insurance as well as multinational solutions, with a focus on commercial and industrial risks in the corporate and upper middle market source version on CONTACT: MEDIA CONTACT JoAnn Lee / +1 617.936.2937 KEYWORD: SWITZERLAND UNITED STATES AUSTRIA NORTH AMERICA EUROPE GERMANY MASSACHUSETTS INDUSTRY KEYWORD: INSURANCE PROFESSIONAL SERVICES SOURCE: Berkshire Hathaway Specialty Insurance Copyright Business Wire 2025. PUB: 08/11/2025 05:00 AM/DISC: 08/11/2025 05:00 AM
Yahoo
01-08-2025
- Business
- Yahoo
Brunel Q2 and H1 2025 results: Driving efficiency, building resilience
Amsterdam, 1 August 2025 – Brunel International N.V. (Brunel; BRNL), a global specialist delivering customised project and workforce solutions to drive sustainable industry transformations through technology and talent, today announced its second quarter and first half 2025 results. Q2 2025 Key points Revenue of EUR 303 million, down 12% (down 7% organically) Gross profit of EUR 52 million, down 20% (down 14% organically) Underlying EBIT of EUR 6.3 million, down 46% (down 27% organically) Additional cost reduction program in execution, to deliver around EUR 10 million in structural yearly savings, with one-off cost of around EUR 8 million Continuing deployment of our IT platform, including AI capabilities H1 2025 Key points Revenue of EUR 613 million, down 11% (down 8% organically) Gross Profit of EUR 109 million, down 19% (down 16% organically) Underlying EBIT of EUR 14.7 million, down 45% (down 31% organically) Free cash flow EUR 24.3 negative (EUR 0.2 negative) Cost reduction program delivered EUR 13.4 lower cost to EUR 94 million, down 12% Earnings per share of EUR 0.01 (H1 2024: EUR 0.30) Peter de Laat, CEO: 'Our second quarter unfolded largely in line with expectations, with a slightly improved year-on-year trend compared to Q1. We saw continued softness in the Netherlands and DACH. At the same time, the performance in Australasia, Americas and Asia was relatively strong. In DACH, we were able to keep the headcount fairly stable compared to Q1. The announced governmental investments in DACH do not yet result in an increased demand although we are growing in the Defence and Energy market. In the Netherlands, clients remain reluctant to work with freelancers. Our global perm placement activities recovered slightly compared to Q1, with fees increasing from EUR 3.3 million to EUR 4.1 million, although still significantly down on last year. The cost reduction program launched in the summer of 2024 is delivering results. We achieved EUR 13.4 million cost savings in H1, ahead of our targeted EUR 20 million annual run-rate. Considering the ongoing market challenges we have now initiated an additional programme, including the closure of our test centre for car parts in Germany. This additional programme is expected to deliver around EUR 10 million in additional annual savings, with a one-off impact of EUR 8 million. With these measures, we continue to align our cost structure to the continued lower level of activity. Meanwhile, we continue to strengthen our digital foundation and drive the integration of AI into our services. These investments, combined with our disciplined execution, ensure we remain well-positioned to capture the opportunities that lie ahead, even in a challenging macroeconomic context.' Results callToday (1 August 2025), at 10:30 AM CEST, Brunel will be hosting a results call. ID 014728 The dial-in number for the Netherlands is +31 85 888 7233, for UK: +44 800 358 1035, for US: +1 646 233 4753. Other locations – see You can listen to the call through a real-time audio webcast. You can access the webcast and presentation at A replay of the presentation and the Q&A will be available on our website by the end of the day. Attachment: Press Release Brunel Brunel Q2 and H1 2025 Brunel International NVSign in to access your portfolio
Yahoo
30-07-2025
- Business
- Yahoo
Bridgepoint to buy majority stake in German insurer HBC
Bridgepoint has reached an agreement to acquire a majority stake in Hanseatic Broking Center (HBC), a Germany-based insurance distribution platform, for an undisclosed sum. The transaction will see Preservation Capital Partners divest its entire stake in the company. Bridgepoint said it will forge a partnership with HBC management and founding members, who will retain a considerable investment in the business. Since its establishment in 2022, HBC has been operating in the German-speaking insurance market, servicing upwards of 40,000 clients and overseeing a premium volume in excess of €600m ($693.07m). Under Bridgepoint's stewardship, HBC aims to create an integrated platform by merging its commercial broking with managing general agent (MGA) functions in Germany, Austria, Switzerland (DACH) and beyond. HBC co-founder and CEO Hauke Martinsen said: 'We have built HBC around a clear belief: that specialist, independent advice is more important than ever for SMEs [small and medium-sized enterprises]. I am proud of what we have created so far, a platform that brokers trust, clients rely on and insurers want to partner with. 'With Bridgepoint behind us, we are in a great position to keep scaling that model, strengthen our MGA proposition, and unlock even more opportunities for our team and our clients.' HBC recent acquisitions include LTA, which specialises in travel insurance, Schomacker, which deals with marine insurance, and Schinner, which focuses on property insurance. Bridgepoint partner and head of DACH Carsten Kratz stated: 'HBC stands out for its entrepreneurial team, specialist focus and impressive growth trajectory. 'With a strong foundation and clear strategic direction, we see significant potential to help HBC scale further, deepen its MGA capabilities, accelerate digitisation and broaden its reach across the region.' The deal, due to be finalised in the third quarter of 2025, is contingent upon standard closing conditions and regulatory consent. In May, Bridgepoint entered exclusive negotiations for the sale of Kereis, a multi-channel insurance brokerage in Europe, to Advent, a private equity firm. "Bridgepoint to buy majority stake in German insurer HBC " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Light Frame and Mambu enter wealth management partnership
Swiss investment operations technology company Light Frame has joined forces with cloud-native core banking solutions provider Mambu on private banking and wealth management. This collaboration aims to deliver a 'next-generation' core banking solution designed for the private banking and wealth management industries. According to Mambu, the collaboration is 'timely', as wealth managers and private banks navigate shifting client demands, heightened regulatory challenges, and intensifying profitability pressures. This partnership seeks to provide banks with 'distinct advantage' in developing and implementing their strategies, the core banking tech vendor added. Mambu region manager of DACH Cenk Bozal said: 'Mambu's entry into private banking alongside Light Frame marks a material step toward modernising a sector that has historically seen limited innovation. 'With over 260 live customers across 65 countries, Mambu is uniquely positioned to partner with the industry to realise the transformational value of a modern, proven core.' Mambu states that the wealth management industry continues to be limited by outdated technology, leading to elevated operational expenses and restricted innovation. The collaboration between Mambu and Light Frame is said to offer a timely and innovative solution for institutions looking for modern, secure, compliant, and scalable alternatives. By connecting investment operations with core retail banking, this solution hopes to enable wealth institutions to provide 'seamless' and comprehensive banking and investment experiences; speed up implementation and simplify IT infrastructure. It also looks to help wealth institutions integrate with third-party systems; boost productivity and automation with user-friendly interfaces and contemporary architecture; and maintain compliance and scalability through a cloud-native framework. Light Frame CEO Schuyler Weiss said: 'When we set out to build a modern Swiss private bank, we searched for a core system that could deliver sophisticated wealth services while embracing the advantages of new technology. It did not exist. That experience led to Light Frame. Today, in partnership with Mambu, we are offering a new benchmark—an end-to-end solution that is fast to implement, intuitive to use, and purpose-built for the high-touch, tailored services that define private banking.' "Light Frame and Mambu enter wealth management partnership " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
