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Hagerty, Inc. (HGTY) filed an 8-K announcing it has signed a non-binding letter of intent with Markel Group to restructure their long-standing Essentia Insurance relationship into a full fronting arrangement expected to be executed in 2025 and effective 1 Jan 2026.

Proposed changes

• Risk & premium: Hagerty Re would assume 100 % of premiums and underwriting risk (vs. 80 %), making Markel a pure fronting carrier.
• Authority: Hagerty鈥檚 underwriting, pricing and claims authority would expand to the maximum permitted by law.
• Economics: Hagerty Re would pay Markel a 2 % fronting fee, which slides lower as policy volume grows, replacing current ceding commissions.

Expected impact

• Management expects higher profitability and greater operational control.
• Beginning Q1-26, commission revenue and ceding-commission expense will disappear from Hagerty鈥檚 consolidated statements; policy acquisition costs will be capitalised and amortised.

Key contingencies: The LOI is non-binding and subject to definitive documentation, regulatory approvals and successful execution; completion is not guaranteed. Full risk retention will also increase Hagerty鈥檚 exposure to loss severity and volatility.

Labcorp Holdings Inc. (NYSE: LH) filed a Form 8-K under Item 7.01 (Regulation FD) to disclose that its Board of Directors has declared a cash dividend of $0.72 per common share. The dividend will be payable on September 11, 2025 to shareholders of record at the close of business on August 28, 2025. No other financial metrics, strategic initiatives, or transactional details were provided in this filing. The company furnished the related press release as Exhibit 99.1 and included standard Exhibit 104 (Inline XBRL cover data). This disclosure signals continued capital returns to shareholders and may be relevant for income-oriented investors.

Form 4 filed for Eastman Kodak Co. (KODK) discloses that GO EK Ventures IV, LLC, controlled by director and 鈮�10% owner B. Thomas Golisano, received 15,332 shares of the company鈥檚 5.00% Cumulative Series C Convertible Preferred Stock on 1 Jul 2025. The shares were issued as a payment-in-kind (PIK) dividend on existing Series C holdings and carry a conversion ratio of 10 preferred : 1 common, implying potential issuance of 153,320 additional common shares.

Following the transaction, the reporting person now beneficially owns 1,241,871 Series C preferred shares (no cash consideration; transaction code J). Because the preferred stock is convertible at any time and has no expiration date, the cumulative position could translate into significant future common-share dilution. Ownership is reported as direct through GO EK Ventures IV and indirectly by its sole member, Mr. Golisano.

Labcorp (NYSE: LH) entered into a $1.0 billion senior unsecured revolving credit facility that replaces its 2021 agreement and pushes final maturity from April 2026 to June 27 2030. The Fourth Amended and Restated Credit Agreement, led by Bank of America, also adds a $500 million accordion, a $100 million swingline, and a $150 million L/C sub-limit.

Pricing is floating: (i) SOFR + 0.805%鈥�1.300% or (ii) base rate + 0鈥�0.300%, plus a facility fee of 0.070%鈥�0.200%, all tiered to long-term debt ratings. Key covenant requires a net leverage ratio 鈮� 4.0脳, expandable to 4.5脳 for four quarters following material acquisitions (unlimited leverage-holiday elections subject to reset conditions). As of closing, no amounts are drawn. The agreement contains customary reps, covenants, and default provisions.

Labcorp Holdings (NYSE: LH) filed a Form 8-K disclosing that it will release its second-quarter 2025 financial results before market open on Thursday, July 24, 2025. Management will host a conference call and webcast at 9 a.m. ET the same day. The filing contains no preliminary results, strategic updates or other material information.