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Sompo International Announces Partnership With Flock To Provide Advanced Commercial Drone Insurance Worldwide

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PEMBROKE, Bermuda, Jan. 21, 2021 — Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that it has entered into a long-term partnership with Flock, a UK insurtech that provides data-driven insurance solutions to commercial drone operators. This partnership supports the future of unmanned aviation by increasing the availability of critical insurance needed for emerging use-cases, like drone cargo deliveries, flying taxi passenger flights and drone swarm shows.

By combining Sompo International’s deep aviation and aerospace insurance underwriting experience with Flock’s real-time risk algorithms, this partnership heralds a new era of insurance built for an increasingly autonomous and connected world. Flock’s range of market-leading products in the drone industry already protect thousands of pilots across the UK and Europe and the company is also exploring how its proprietary technology could be used to reinvent insurance for other specialty lines. Sompo International will support Flock’s aggressive growth strategy with the two companies working together to make it easier for complex projects to access fair, flexible and transparent policies.

Mr. Julian James, CEO, International Insurance, Sompo International said, “At this time of significant change across the business landscape, insurers, brokers and disruptors need to work together to develop innovative responses to a raft of emerging and evolving risks. Drones have multiple applications and are set to transform a range of industries from e-commerce to risk management and crisis response. The sheer breadth of applications means the global commercial drone market is expected to be worth in excess of US$40 billion by 2025. Flock is a market leader in this sector with tremendous potential; it has a proven business model utilising a transferable and scalable technology that has already delivered unique products and an impressive growth story.”

Mr. Ed Leon Klinger, CEO of Flock, said: “By combining Flock’s data-driven approach to risk with Sompo International’s significant expertise and established global distribution networks, this partnership marks an important milestone in the evolution of drone insurance globally. Vehicles are increasingly connected, autonomous, and powered by real-time data. At Flock, we’re building insurance products to accommodate for this new world and so it was vital to partner with an underwriter that shares our ambitious vision.”

Mr. Andrew Metcalfe, Sompo International’s Senior Vice President, London Market Aerospace Insurance said: “The increasing use of automation will be a key factor in the development of transportation in the future. Flock’s technology platform has the ability to deliver significant benefits, including the real-time use of data to provide insight into developing efficient operations and enhanced safety management systems, increasing the operational footprint of Unmanned Aerial Vehicles.”

About Sompo International Sompo International Holdings Ltd. (Sompo International) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. Sompo International is a company driven by its core values, a carrier that holds promise, trust and the commitment to protect at the center of everything it does. We maintain excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on our principal operating subsidiaries. For more information about Sompo International, please visit www.sompo-intl.com

About Flock Flock is a London-based insurtech on a mission to make the world a smarter, safer place. The team is reinventing commercial insurance from the ground up by using cutting edge technology to price, insure, and mitigate risk.

From all-electric vehicle fleets to medical delivery drones, Flock insures thousands of complex commercial operations globally supported by A-rated underwriters. The company believes the insurer of the future will actively help customers reduce incidents instead of just being there when something goes wrong. ‍ Flock’s roots are in academia and data science, arising from research papers at Imperial College London and Cambridge University. Flock launched Europe’s first ‘pay-as-you-fly‘ drone insurance product in 2018, and now insures thousands of commercial drone pilots and connected motor fleets with a range of data-driven insurance and risk management products.

Contact Sompo International Cara Gallagher SVP, Marketing & Communications Phone: + 1 917 421 4973 Email: [email protected]  

Luther Pendragon Will Mutton Phone: + 44 7827 903973 Email: [email protected]   

Flock Sam Golden Head of Marketing Phone: +44 77408 05066  Email: [email protected]

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Admiral James Stavridis Joins Ankura Board of Directors

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NEW YORK, Feb. 22, 2021 /PRNewswire/ — Ankura, a global business advisory and expert services company, today announced that Admiral James Stavridis, a retired four-star officer in the U.S. Navy, has joined the Ankura Board of Directors. Admiral Stavridis is an expert in global law and diplomacy and has been recognized for his outstanding leadership.

“Admiral Stavridis is a recognized strategist, leader, and scholar. It is an honor to welcome him to the Ankura Board,” said Ankura Chairman, Philip Daddona. “His acclaimed expertise, guidance and worldly perspective, built over a lifetime of service, will be invaluable to our firm's strategic trajectory as we continue to expand our global presence. Jim's strong inner character and leadership experience will help us continue to build and strengthen our culture which is the foundation of our firm.”  

Admiral Stavridis is a renowned naval officer having served as the commander of the United States Southern Command where he oversaw all military operations in Latin America from 2006 to 2009. He led the NATO Alliance in global operations with responsibility for Afghanistan, Libya, the Balkans, Syria, counter piracy and cybersecurity as commander of the United States European Command and Supreme Allied Commander Europe from 2009 to 2013. He was the first Navy officer to hold these distinguished positions. Earlier in his military career, he won the Battenberg Cup for commanding the top ship in the Atlantic Fleet and the Navy League John Paul Jones Award for Inspirational Leadership, along with more than 50 U.S. and international medals and decorations, including 28 from foreign nations. 

Admiral Stavridis is currently an operating executive with a global investment firm and chair of the board of directors at an international consulting firm. He is chair emeritus of the board of directors of the U.S. Naval Institute and a senior fellow at Johns Hopkins University Applied Physics Laboratory. He is also a monthly columnist for TIME magazine and chief international security analyst for NBC News.

“I am excited to bring my expertise in cybersecurity, international and maritime law, global affairs and leadership to the team at Ankura,” said Admiral Stavridis. “This is a rapidly growing consulting firm that remains grounded with deep and real integrity. I am looking forward to working alongside Phil and the rest of the leadership team to guide the firm's strategic vision and support its professionals in helping clients achieve their business goals.”

A 1976 graduate of the U.S. Naval Academy, Admiral Stavridis earned a doctorate of philosophy in international relations and a master of arts in law and diplomacy from The Fletcher School at Tufts University, where he won the Gullion Prize as an outstanding student in his class.

About Ankura

Ankura is a global business advisory and expert services firm defined by HOW we solve challenges. Whether a client is facing an immediate business challenge, trying to increase the value of their company or protect against future risks, Ankura designs, develops, and executes tailored solutions by assembling the right combination of expertise, strategy and execution. We help clients navigate a wide range of corporate performance and risk management challenges, including those pertaining to compliance, investigations, forensics, technology, turnaround and restructuring, and corporate strategy. We build on this experience with every case, client, and situation, collaborating to create innovative, customized solutions, and strategies designed for today's ever-changing business environment. This gives our clients unparalleled insight and experience across a wide range of economic, governance, and regulatory challenges. At Ankura, we know that collaboration drives results. For more information, please visit: www.ankura.com.

 

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SOURCE Ankura

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SHAREHOLDER ALERT: WeissLaw LLP Investigates Forterra, Inc.

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NEW YORK, Feb. 22, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Forterra, Inc. (“Forterra” or the “Company”) (NASDAQ: FRTA) in connection with the proposed acquisition of the Company by Quikrete Holdings, Inc.  Under the terms of the merger agreement, Forterra shareholders will receive $24.00 in cash for each Forterra share they own.  The transaction is valued at approximately $2.74 billion.

If you own FRTA shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/FRTA/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw is investigating whether (i) Forterra's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $24.00 per-share merger consideration adequately compensates Forterra's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]

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SOURCE WeissLaw LLP

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The SPARBAR® SB1™ Collection Makes Its Debut With an Emphatic KO!

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NEW YORK, Feb. 22, 2021 /PRNewswire/ — SPARBAR Inc., the North American distributor and IP licensee of the U.K. created SPARBAR®-branded boxing fitness equipment, is pleased to announce the release of its SPARBAR® SB1™ Collection, including the SPARBAR® Pro 4.0 and 4X series. The boxing and fitness equipment innovator sets a new bar in boxing as a movement with this latest design-centric edition, manufactured for high stress loads.

SPARBAR® Pro 4 Series

The SPARBAR® Pro 4 series is available in 7 vibrant, eye catching designs with premium versions in gold, pink, white, yellow. Additionally, the luxurious SPARBAR® PRO 4X editions are hand crafted from 100% genuine cowhide leather and are available in Midnight Black and Vintage Brown, for the more sophisticated boxing enthusiast. 

The Official. The Original. The world-famous SPARBAR®

Re-engineered for faster, more interactive sparring experience, the SPARBAR® PRO 4X builds focus, speed and hand eye co-ordination and has had knock-out reviews from some of the best combat sports athletes in the business.

Tested via industry leading software measuring rotation speed, stress loads, and with reaction simulations performed by some of the top boxers in the world, this is the most innovative SPARBAR®-branded fitness equipment to date.

Sparbar brand founder, President, CEO and Head of Product Development, Jasvinder “Jazz” Gill, said: “In 2020, the year of the home workout, we had a record demand, and we invested in updating the SPARBAR® Pro to make it our most precision-engineered training device.”

SPARBAR® SB1 Collection

The SPARBAR® combat line is designed for a premium boxing experience. The SB1™ Collection includes a fine selection of heavy punch bags such as the SB1 Heavy Angle™. Handcrafted from 100% genuine cowhide leather, the punch bag comes in an hourglass shape simulating body curvature.

Explore striking targets, speed balls or training noodles for a dynamic sparring experience. Head guards, body protectors, gloves and accessories are also available in a kids' edition for champions in the making.

The advanced ergonomic design and artisanal finishes of premium fabrics help to develop speed, power and accuracy for signature strikes. All SPARBAR®-branded fitness products are stress tested to satisfy the world's heaviest hitters, yet are designed for anyone – no matter what age, gender or fitness level – to enjoy exceptional resistance and rhythm in a boxing workout.

Jasvinder “Jazz” Gill, said that “boxing is a lifestyle. When you decide for it, you have to commit to this sport. We want to shake up the boxing game and make it vibrant – add color and lifestyle to boxing as a workout. It is important for us to keep pioneering and to push boundaries in the boxing space, and to celebrate this sport.”

In light of the overwhelmingly positive reviews pouring in from customers old and new, Sparbar looks to continue to expand its collections in the coming months.

“We all fight for something.”

Jazz founded the SPARBAR® brand in 2012. Since then, SPARBAR® has stood for the development of highly interactive, intuitive boxing equipment. The SPARBAR® Pro device is backed by pro athletes and celebrity fitness enthusiasts such as Anthony Joshua, Roy Jones Jr., Kevin Hart and Scott Adkins – to name but a few.

With the pandemic, the importance placed upon personal fitness and mental health drastically increased. For the SPARBAR® team, it is important to empower those goals, and make boxing as a high-intensity workout accessible to anyone, no matter what age, gender or fitness level.

New, design-protected skins are part of a rebranding in order to distinguish the SPARBAR® brand visually from counterfeiters. 

The original SPARBAR® products are available at sparbar.com and at retailers listed at this website.

ABOUT SPARBAR ® – THE WORLD FAMOUS SPARRING PARTNER:

A global sports fitness brand, SPARBAR® is proud of its position as the inventors of the global combat sensation that known the world over as SPARBAR® Pro. Founded in 2013 and backed by over 20 years of real boxing experience, we have single-handedly changed the fight game with our innovative concept of training without a sparring partner.

Used by world champions, international celebrities, world-leading gyms and with over 300M+ social media video views, the SPARBAR® success ensures that we are not just pioneers, but game-changers in the combat sports training equipment market. SPARBAR® is the key to learning core fundamental boxing skills and developing hand-eye coordination as you build footwork, balance, speed, stamina, accuracy and power, simulating realistic sparring in a safe environment.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy, product development and potential success, as well as technological and/or other factors and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, and financial. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks. Important factors that may cause the actual results to differ from those expressed within may include but are not limited to: the success or failure of SparBar's efforts to successfully market its fitness and sports brand products and services; SparBar's ability to attract and retain quality employees; the effect of changing economic conditions; increased competition; the ability of Sparbar to obtain adequate equity financing. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

More at sparbar.com

Instagram @sparbarboxing
YouTube Sparbar Boxing

Company contact:
SPARBAR Inc.
7 Penn Plaza Suite 420
New York, NY 10001
Email: [email protected]
Tel: +1 800-803-6645

Press contact:
Melanie Marten, The Coup
[email protected]   
+49 1707308126

Related Links
http://www.sparbar.com

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SOURCE SparBar Inc.

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