Insurance Executive Peter Harris Explains How He Grew CBL Using Innovative Strategies

Peter Harris is an international businessman who resides in Auckland, New Zealand. He began his career working as a chartered accountant. In 1989, he became the finance director and shareholder of Boston Marks Group Ltd. After a four-year stint at General Capital Ltd. as its chief executive officer, he joined CBL in 1996. He was named CEO and managing director of the insurance firm in 2007.

Under his leadership, CBL became the largest insurance firm based in New Zealand. It had clients around the world, including Malaysia and France. Its financial health was rated as A-(Excellent) by the international rating frim AM Best. CBL was earning more than $400 million a year in 2018. Peter Harris was recognized with multiple accolades, such as the EY Awards naming him “Entrepreneur of the Year.”

In 2018, French insurers unfairly targeted CBL. Peter Harris explains this resulted in the Reserve Bank of New Zealand (RBNZ) investigating his company. RBNZ assigned an inexperienced liquidator to the case, which resulted in Peter Harris and his fellow shareholder Alistair Hutchison losing what they had built up over the years. Peter Harris has been working to make sure all of his company’s residual creditors and policyholders are taken care of.

Earlier in his career, Peter Harris realized that a great profit could be attained by taking on more risk than most banks. He saw the risks could be mitigated through innovations. This included surety solutions, guarantees, and credit enhancements. He put the plan into action in 1996 after buying an insurance company. It was a small business, but Peter Harris and his business partner saw enormous potential.

Peter Harris recalls that they realized they would need to expand internationally to be truly successful as New Zealand had a population of just four million people. They sought clients and opportunities overseas, including in Asia and Europe. This coincided with the rise of the internet and email making it far easier to do business on a global scale. He put the long-term good of the company over short-term results, a strategy that paid off in two years as the company became profitable and had tremendous growth.

Read more here http://www.cblinsurance.com/about-us/board-of-directors/

Sergey Petrossov

SERGEY PETROSSOV

As an industry, private charter flights were once the purview of the rich and famous.  When Sergey Petrossov was asked to join a private charter flight what he found was an outdated, archaic system much in need of a modern overhaul.  So, he went to work.  He founded JetSmarter with the fundamental idea of creating a system that was more efficient, more cost effective and available to the broader market.

Since starting the company, it has grown to a $1.5 billion valuation.  Through its innovative app, customers are able to book flights worldwide to the destination of their choosing.  They are also able to book flights with other customers who have already booked and share the ride.  This has earned them the nickname of being the “Uber” of private charter flights.   While this appellation may be a tad unfair, the company is setting its sights on redefining the private charter space and making better use of their plane’s flight time.  The less time they spend on the ground, the more the company can earn.  This savings then gets passed on to the customer.  With more planes in the air, customers save.  This also means that the customer base broadens.  With private charter flights within reach of more customers, everybody wins. 

SERGEY PETROSSOV

The idea was simple.  Turn underutilized flight time into income generating business.  The answer was to become a distribution network for multiple operators.  In doing so, JetSmarter and Sergey Petrossov have created a new market.  To date, they have integrated 3,000 planes into their system.  By keeping planes flying when not in use, they’ve created a third-party market that makes money for the company and the plane’s owner.  It’s a win, win, win. 

The Fortress Investment Group : A High End Management Firm

The Fortress Investment Group is known for being compelling investors and acquirers.

Vanin Capital is known for being global professionals in legal finance. Further, they will support and minimize issues in business. They work in successful and commercialized disputes all over the world. They have offices in many areas and are based in London, Paris, Australia and New York. Recently, they hired a former president of Bloomberg law to become their regional director at their branch on North America.

Vanin Capital, launched in the year 2010, they were supposed to pursue a public stock deal but would scrap those plans later. They sold their company to Fortress Investment Group instead.

Fortress Investment Group was their partner since then, they think that purchasing Vanin Capital will greatly help their company as it is well inclined and a natural fit for their business. They’ve commented in the past how it has been a great firm and will continue to act as one moving forward.

Read more on Bloomberg

The sale to the Fortress Investment Group was expected to close this month, which will be a liquidity event for another business such as Bramden Investments. The specific firm is a private equity firm that owns the majority of Vanin Capital. Fortress purchased 100% of it, which has been a previously an active investor in the market. The terms of the deal were not revealed.

Fortress believes that purchasing this company will benefit in terms of relationship and leadership in space. Further, they believed that the company helps each other.

Financial Times was the first one to report about the sale and the resignation of both executive and financial chief of Vanin Capital, Richard Hextall, and David Collins, at the closing of the company.

Others seem to continue to respond to the question about their accounting practices as to sales and acquisitions. Burford seems to share its fair share of price fall of more than half since late July, which led to them selling their company.

We hope to see the difference that they can do, and also the similarities that they should do to maintain the companies legacy in providing quality legal finances.

Find more about Fortress Investment Group:https://www.inc.com/profile/fortress-investment-group

Fortress Investment Group Keeps Up Their Tradition Of Trendsetting

Fortress Investment Group has gained a reputation for innovation over the last two decades and this tradition looks like it could continue for years to come with the big things that are taking place at the company. In 1998, the private investment firm was co-founded by Randal Nardone, Wes Edens, and Rob Kauffman. Kauffman went on to retire from Fortress Investment Group in 2012, but Randal Nardone and Wes Edens remain on as Principals. The founders of the company brought with them several years of experience in big firms in the financial industry. The investments that Fortress Investment Group makes are known to be very diverse and based in different countries around the world. Recently, they even got into the natural gas and oil industry to help fuel one of their other projects.

One of the big events in which Fortress Investment first started making headlines was back in 2007 when they released the Initial Public Offering to the New York Stock Exchange. A large private equity firm like them had never made themselves public before and it served them well for several years. They thrived so much as a public company that other private firms joined them with their own Initial Public Offerings. Like all good things, that particular market came to an end and the company realized that it was time for them to look towards changing things up significantly.

In 2017, Fortress Investment Group accepted an offer for $3.3 billion from Softbank to purchase the company. After becoming a subsidiary company of SoftBank, they were able to stop trading as a public company on the New York Stock Exchange. The company was wanting to look towards the future instead of just trying to make shareholders happy during the next quarter. Fortress Investment Group has already been able to make some big moves with long-term plans such as railways, energy companies, and other large-scale endeavors. Only time will tell if other companies like theirs will attempt to go private like they had been in years before the changes in the market. It will be interesting to see what the trendsetters do next.

A Force of Innovation: Two Decades of Fortress Investment Group


The Accomplishments Of Fortress Investment Group

Fortress Investment Group has witnessed a growth pattern since its inception in 1998 as a private equity firm. The firm was established to provide investors with investment and financial tips as well as assist in the management of assets. Through Wes Edens expertise in management and finance, the company has grown to establish its name in the alternative asset management. Fortress Investment concentrates on the real estate sector and hedge funds among other areas and prides in having a team of professional staff who understand the needs of their clients.

Fortress Investment has been successful in the growth of its portfolio and earning the trust of its clients. The company has been successful in the management of assets worth billions of money on behalf of its institutional clients and investors in various parts of the world. Fortress Investment Group expertise in research has enabled it to launch multiple management strategies that increase the wealth of the investors. The company’s solid management and operational efficiencies have spearheaded its growth to become one of the best alternative asset managers.

Fortress Investment Group’s Open-End Asset Funds
Fortress Investment has made it possible for its investors to access more credit funds through its open end asset funds platform. The investors have a chance to increase their investments through private lending spearheaded by the company. Through the open end asset funds, investors can join hands and collaborate in growing their ventures. The demand for the open end asset funds has increased since they are favorable to the small and medium enterprises. Fortress Investment Group has benefited since most small and medium companies have taken advantage of these funds to acquire funds necessary for spearheading their operations.

Merits of Fortress Investment Group’s Acquisition
Softbank Group is one of the companies that are doing well in the investment field after their acquisition of the Fortress Investment. Softbank Group has witnessed the growth of its portfolio and has diversified its operations into the real estate sector as well as having access to professional investment advice thanks to the acquisition of Fortress Investment Group. Softbank Group has allowed the Fortress Investment Group to function as an independent entity as it concentrates on strengthening its partnership with tech-related companies.

How the deal between Fortress Investment Group and iPass will benefit both camps

Fortress Investment Group is now in business with iPass, a mobile connectivity provider. This is after the two companies struck a financing deal that will see Fortress invest a substantial amount of money to the tune of $20 million in the mobile networking company. iPass, a tech-titan in its own right, serves more than 64 million Wi-Fi hotspots all over the globe with its secure Wi-Fi available on all SaaS-enabled devices.

Give -and -take

The partnership between iPass and Fortress Investment Group is mutually beneficial to the duo in many ways. Firstly, iPass enjoys the financial muscles and vital business connections that Fortress draws from its high -net- value clientele base of about 1,750 companies and individuals. With Fortress managing more than $40.9 billion in assets, it is in a prime position to provide a deep pool of finances to iPass. This is a much-needed break for the tech company, as it has experienced a massive decline in profits due to the attrition of Wi-Fi prices all over the globe. On the other hand, Fortress is banking on the innovative strengths of iPass that places the mobile connectivity company on a catbird seat in the coming future.

iPass potential

You could say that Fortress Investment Group is banking on the potential future of iPass. Fortress could not have speculated better, because it is apparent that only innovative companies stand a better chance of harvesting profits in the coming years. iPass has in the past proved that innovation is the cutting edge for all tech-related companies if they are to thrive in the tightly competitive industry. Three years ago, the mobile connectivity company had to make a quantum leap to bounce back to life after it nearly collapsed. It is this ability to create innovative changes while under massive pressure, that makes iPass a safe bet; and Fortress is all in.

Why Fortress & iPass are a fit

What makes Fortress Investment Group so profitable, is the ability of the company to diversify and invest in a wide range of portfolios. The managers at the helm of power at Fortress are progressive leaders who are big on innovation and alternative investments. With ingenious solutions such as the SmartConnect program, iPass is at the steering wheel of innovation, making their deal with Fortress a catalyst for their progress. Both camps are excited about the partnership, and this is assured by Mr. Griffiths, the chief executive officer and president of iPass who lauded Fortress for facilitating the deal.

LinkedIn: https://www.linkedin.com/company/fortress-investment-group

Southridge Capital Great Leadership

Southridge Capital is recognized in the international market. The company serves customers based in the United States, and it has been leaving its customers satisfied since it was introduced into the market several years ago. Southridge Capital might not be a giant in the provision of services in the finance department, but it has been received by American investors well because of the high-quality products and high levels of standards that it has set since the first day it started its operations. The organization is very proud of its achievements. The person responsible for starting this company is an expert in the world of finance, and he has walked with the company from scratch so that he can impress his clients. For more details visit LinkedIn.

Stephen Hicks is the founder of the prestigious and successful company. Since the company started operating several years ago, Hicks has been in the position of chairman and chief executive officer, and he has shown excellence in all of the projects accomplished. The finance executive has shown the employees in the company the path they should choose so that they can end up with good profits. Many businesses in the country are being managed by the finance executive due to his expertise in finance. The customers who trust the services from the finance firm say that they were attracted to the organization because of the experienced leaders.

Stephen Hicks has achieved so much in his life because of various reasons. Although he has been getting so much experience after working in the industry for a long time, Stephen has been fortunate to have the academic qualifications that have been received from prestigious schools in the world. The fact that he got his MBA from the popular Fordham University shows that he is an excellent candidate for the position of a leader. Stephen Hicks has been working with the finance department for decades, and he has spent the last three decades dealing with financial activities, investments and risk management. Southridge Capital believes that it could not get to its current position if it was not being held by a responsible leader.

 

 

Read more: https://www.crunchbase.com/organization/southridge-investment-group#section-overview