- Markel announced the decision to sell renewal rights and cease writing new business in its global reinsurance operation, which was acquired through Alterra over 10 years ago.
- This move is aimed at focusing on core lines of business and improving profitability.
- The exit is expected to free up capital, with the reserves and investments continuing to generate returns, and will provide flexibility for reinvestment.
- The sale of renewal rights will result in premiums being earned over the next 2-3 years, with some renewal contracts processed in Q3 2025.
- Management highlighted the potential for capital release and optionality, with a focus on reinvesting proceeds strategically.
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- Unum completed an external reinsurance transaction in July 2025 to reduce LTC exposure, marking a major strategic step.
- The company is actively seeking additional LTC risk reduction opportunities, emphasizing disciplined management of the LTC block.
- The transaction improves risk profile, frees capital, and shifts focus to higher-return core businesses.
- Management highlighted ongoing efforts to de-risk LTC through market transactions, despite market complexity and slow pace.
- MetLife launched Chariot Re with an initial $10 billion reinsurance deal, aiming to support growth in its diversified retirement platform.
- The partnership with General Atlantic and the reinsurance deal are designed to generate institutional client assets and support the company's strategic expansion.
- Michel Khalaf emphasized that Chariot Re is a vehicle to enable growth beyond MetLife’s capital generation capabilities, with more deals expected in the future.
- Lincoln is actively shifting its product mix towards higher-margin, more stable cash flow products such as fixed annuities, RILA, and supplemental health.
- The company has been investing in distribution expansion, product features, and digital capabilities to support this strategic repositioning.
- Management emphasized that these efforts are expected to enhance risk-adjusted returns and long-term profitability, with ongoing growth in sales and margins.
- Sale of Hyatt Centric Fisherman's Wharf for $80 million at 64x 2024 EBITDA, demonstrating strong real estate value support.
- Active engagement in discussions for additional noncore asset sales aiming for $300-$400 million in total dispositions by year-end.
- Decision to close the Embassy Suites Kansas City, DoubleTree Seattle Airport, and DoubleTree Sonoma to improve portfolio quality, increasing core portfolio RevPAR by over $5 and margins by nearly 70 basis points.
- Focus on reducing noncore hotels from 18 to approximately 3 by end of 2024, enhancing long-term growth and portfolio quality.
- Elme announced a definitive agreement to sell a portfolio of 19 assets to Cortland, an Atlanta-based multifamily firm, expected to close in Q4 2025 pending shareholder approval.
- The sale is part of a broader strategic review process initiated in February, culminating in a plan of sale and liquidation for remaining assets.
- The transaction is valued at approximately $1.6 billion in cash, subject to adjustments, representing a significant liquidity event for Elme.
- This sale reflects a shift from the company's previous diversification efforts, focusing solely on multifamily assets after divesting office and retail portfolios in 2021.
- Management emphasizes that the sale aims to maximize shareholder value amid challenging market conditions for lowering the cost of capital.
- The company is actively diversifying its portfolio geographically into Europe, with new originations expected by the end of 2025.
- KREF has closed on a B-Piece investment in a diversified pool of 34 low leverage, fixed-rate first mortgage loans across property types and geographies.
- Management highlighted the creation of more portfolio duration through CMBS investments, leveraging their K-Star platform, which is a rated special servicer.
- This strategic move aims to enhance risk-adjusted returns and create a more resilient, diversified investment portfolio.
- RMR has focused on deleveraging through asset sales and refinancings.
- Share prices of DHC and ILPT increased substantially year-to-date.
- Share price improvements led to potential incentive fees exceeding $17 million for RMR.
- Active asset management and sector fundamentals contributed to strong performance.
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