The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
US investors buy up Alrosa IPO shares
Russian mining company Alrosa, which seeks to overtake De Beers as the world’s largest diamond miner by value, launched its initial public offering this week, with reports indicating that U.S. investors snagged 60 percent of the shares sold.
Moscow--Russian mining company Alrosa, which seeks to overtake De Beers as the world’s largest diamond miner by value, launched its initial public offering this week, with reports indicating that U.S. investors snagged 60 percent of the shares sold.
According to Reuters, the Russian government sold 16 percent of its stake in the company at 35 rubles ($1.09) per share, raising a total of $1.3 billion. Buyers included U.S. asset management group Lazard, and Capital, Highbridge, Oppenheimer Funds and PIMCO, all investment firms, according to the report.
Alrosa’s shares sold at the bottom of the projected price range, analysts noted.
Others pointed out, however, that while the miner’s share sale was not a “dot-com story” -- meaning prices weren’t skyrocketing -- Alrosa was lucky to get the level of investment that it did, Reuters reported.
In the past several months, Alrosa has been increasing its presence globally, including in the U.S. market.
The diamond miner now has a contract to sell its better diamonds through auction house Sotheby’s and has committed to holding more tenders in New York in a partnership with the Diamond Manufacturers & Importers Association of America.
In addition, about a month ago, reports surfaced that Alrosa is close to inking an $80 million supply deal with Akron, Ohio-based Signet Jewelers Ltd. Signet is the parent company of Kay Jewelers and Jared the Galleria of Jewelers, two of the largest jewelry store chains in the United States.
Based in Moscow and Mirny, Russia, Alrosa is owned by the Russian government, the Russian republic of Yakutia--where most of its mines are located--eight municipalities in Yakutia and various minority investors.
The Latest

The addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.

The necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Jewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.


Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.

The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The luxury titan’s star brand Gucci continued to struggle amid a "tough" environment.

Its opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.

Respondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”

“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.

Senior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.

The first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.

The online auction house’s September sale will feature rough Brazilian emeralds of various qualities.

She’ll lead an executive committee consisting of President-Elect Bryan Moeller, Mitchell Clark, Bill Farmer, and Larry Rickert.

Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.

A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.

The retailer will refer its customers to WonderCare, founded by venture capitalist and watch collector Kevin O’Leary.

The jeweler’s largest store yet is set to open in Little Rock next fall.

Anne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”

Jewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.

Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.

Mark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.

While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.

The “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.

The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.