On Friday, Shares of Aon Plc (NYSE:AON), lost -1.27% to $90.29.
Impact Forecasting, Aon Benfield’s catastrophe model development team, launched the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during August 2015. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc (AON).
The report reveals that in the United States, severe drought conditions persisted in western regions with total economic losses predictable to reach at least USD3.0 billion – mostly attributable to agricultural damage in California. Several Caribbean and Central American nations issued alerts as droughts worsened.
Drought conditions also affected Eastern Europe, Africa, the Caribbean, and Central America during August, with combined economic losses of more than USD2.6 billion occurring in Romania, Czech Republic, and Poland.
Aon plc provides risk administration services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. It operates through two segments, Risk Solutions and HR Solutions.
Shares of Penn West Petroleum Ltd (USA) (NYSE:PWE), declined -3.88% to $0.642, during its last trading session.
Penn West Petroleum declared it has taken the following further actions in response to the current commodity price environment:
- we will limit our capital expenditures to funds flow from operations by year-end 2015
- we will suspend our dividend and reduce board compensation
- we will significantly reduce our cost structure through a 35% workforce reduction
“We continue to take concrete steps to strengthen our balance sheet,” said Dave Roberts , President and CEO of Penn West, “Limiting our capital programs to the funds flow generated from our assets and suspending our dividend are necessary steps. Building on a combination of process and efficiency improvements over the past 12 to 18 months, we are taking further actions recently to significantly reduce our cost structure without impacting our ability to execute. We remain flexible and well positioned to move forward when oil prices improve.”
Penn West Petroleum Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. The company’s properties are located in Alberta, British Columbia, Saskatchewan, Manitoba, and the Northwest Territories, Canada; and Wyoming, the United States.
At the end of Friday’s trade, Shares of Arthur J. Gallagher & Co. (NYSE:AJG), lost -1.72% to $41.67.
- Patrick Gallagher, Jr., Chairman, President & CEO of Arthur J. Gallagher & Co. (AJG), will speak at the Keefe Bruyette & Woods 2015 Insurance Conference at the Crowne Plaza Times Square Hotel in New York on Wednesday, September 9, 2015 at 11:20 a.m. ET.
Arthur J. Gallagher & Co., an international insurance brokerage and risk administration services firm, is headquartered in Itasca, Illinois, has operations in 31 countries, and offers client-service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.
Arthur J. Gallagher & Co., together with its auxiliaries, provides insurance brokerage and risk administration services in the United States and internationally. It operates through three segments: Brokerage, Risk Administration, and Corporate.
Finally, KAR Auction Services Inc (NYSE:KAR), ended its last trade with -0.68% loss, and closed at $36.74.
KAR Auction Services, declared its participation in the following investor conference, which will also be available via live audio webcast:
- Goldman Sachs 22nd Annual Global Retailing Conference
Eric Loughmiller, Chief Financial Officer and Executive Vice President, and Mike Eliason, Vice President Financial Planning and Analysis, will speak on Wednesday, September 9 at 3:10 pm EDT
KAR Auction Services, Inc., together with its auxiliaries, provides vehicle auction services in North America. It operates in three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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