On Friday, Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC), lost -1.94% to $51.99.
Marsh & McLennan Companies, declared the placement of the Series 2015-1 Notes, with notional principal of USD 100,000,000, through the newly formed catastrophe bond shelf program, Bosphorus Ltd., to benefit the Turkish Catastrophe Insurance Pool (“TCIP”). The 2015-1 Notes represent the second time that TCIP has utilized the capital markets to obtain earthquake protection on a parametric basis. TCIP, managed by Eureko Sigorta A.Ş., first accessed the cat bond market in 2013 via the issuance of Bosphorus 1 Re Ltd. and has now sourced USD 500 million in total of catastrophe bond capacity from capital market investors.
The Series 2015-1 Notes provide three years of per occurrence protection for earthquakes affecting the Istanbul region and are triggered based on certain ground motion measurements captured at certain ground motion seismometers that are part of the Istanbul Early Warning and Rapid Response System operated by Boğaziçi University Kandilli Observatory and Earthquake Research Institute (KOERI) with logistical support from the Istanbul Governorate, Istanbul Metropolitan Municipality and First Army Headquarters.
Marsh & McLennan Companies, Inc., a professional services firm, provides advice and solutions primarily in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services; and Consulting.
Shares of MGM Resorts International (NYSE:MGM), declined -0.05% to $20.48, during its last trading session.
MGM Resorts International, joined the American Business Act on Climate Change Pledge by pledging to reduce energy consumption 20% by 2020, during the National Clean Energy Summit held at the Mandalay Bay Resort Convention Center, sponsored by U.S. Senator Harry Reid, and with closing keynote comments by President Barack Obama.
“MGM Resorts is committed to being a leading corporate citizen in all it does. Climate change and consumption of traditional energy sources is among the most critical issues of our day,” said Jim Murren, Chairman & CEO of MGM Resorts International.
MGM Resorts International, through its auxiliaries, owns and/or operates casino resorts. It operates through two segments, Wholly Owned Domestic Resorts and MGM China. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Finally, United Technologies Corporation (NYSE:UTX), ended its last trade with -1.31% loss, and closed at $90.71.
As 16 teams from around the world converge for the 69th annual Little League World Series, Lenel, a leading provider in advanced security systems, is there for the 17th successive year assisting to protect players, coaches, officials and fans. Lenel is part of UTC Building & Industrial Systems, a unit of United Technologies Corp. (UTX).
Each year, Lenel contributes its technology, supplies, service and expertise to assist protect attendees of the 10-day event, which culminates this year with the world championship game on Aug. 30.
James Ferguson, director of security for Little League International, said Lenel’s annual participation is important to his department as it works to ensure the tournament’s safe conduct. “The time, talent and resources offered by Lenel have made them a long-term and valued partner of the Little League World Series,” Ferguson said. “With the latest electronic security technology available to us, we know we are doing all we can to ensure the safety of the players, coaches, spectators and volunteers who make this an exciting global event.”
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; modernization products to upgrade elevators and escalators; and maintenance and repair services.
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