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Victor sets up Lloyd’s Syndicate 2288, names Active Underwriter
10th December 2019
Managing general underwriter (MGU) Victor Insurance Holdings has received approval from Lloyd’s to establish Victor Syndicate 2288 and commence underwriting from January 1, 2020. Victor Syndicate 2288 will launch at Lloyd’s with a stamp capacity of £57 million, supporting a business plan of US $100 million. Jill Frances has been named as ... Read the full article
SageSure names Paul VanderMarck as Chief Tech & Innovation Officer
3rd December 2019
SageSure Insurance Managers, an independent US residential property managing general underwriter, has announced the appointment of Paul VanderMarck as Chief Technology and Innovation Officer. In this role, VanderMarck will lead the teams responsible for SageSure's proprietary technology platform. He will also drive the company's broader innovation strategy, including developing partnerships with emerging ... Read the full article
Lloyd’s to repeal Singapore scheme by November 2022
28th November 2019
Insurance and reinsurance marketplace Lloyd’s of London has announced that its scheme allowing Lloyd’s underwriters to write Singaporean domiciled risk will be repealed by November 2022. The scheme was established in 2000 as a temporary measure until the Lloyd’s Asia platform reached maturity. Under the scheme, Lloyd’s underwriters outside of Singapore are ... Read the full article
Praedicat to develop named peril casualty product from Lloyd’s Lab
13th November 2019
Praedicat, a risk analytics and modelling company for casualty re/insurers and industrial firms, has announced that it plans to develop a new named peril casualty product in the Lloyd’s Lab. Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, selected Praedicat as part of the third cohort ... Read the full article
Adverse reserve development dents Travelers’ Q3 results
22nd October 2019
US primary insurer Travelers has identified unfavourable prior year reserve development as having driven an increased combined ratio and lower net income for the third quarter. At 101.5%, Travelers’ CR stands at 4.9% higher against the prior year quarter. Net income was reported at $396 million, compared to $709 million. Overall, Travelers took ... Read the full article
RSG wraps up acquisition of hotel-focused program manager
17th October 2019
Ryan Specialty Group, an international specialty insurance organisation, has completed its previously-announced acquisition of Suitelife, a program manager based in West Chester, PA that specialises in hotels. Founded in 2010, Suitelife offers package, liability, property, umbrella, auto and workers’ compensation coverages to hotels, resort properties and private resort communities. Its program management ... Read the full article
Marsh’s Torrent Technologies develops new flood offering
18th September 2019
Torrent Technologies, a Marsh company, has announced the launch of FloodPlus Commercial, a new private market primary flood insurance offering for agents of its Write Your Own (WYO) carrier clients. FloodPlus commercial provides up to $2.5 million in flood coverage for small commercial property owners’ building, building personal property (BPP), and ... Read the full article
Gallagher acquires lettings & landlord insurance broker RGA Group
5th September 2019
Global insurance brokerage Gallagher has announced the acquisition of RGA Group, a UK insurance intermediary comprised of the companies Rentguard Limited, Home & Travel Limited and RGA Underwriting Limited. In aggregate, Brentford-based RGA Group manages the insurance requirements of over 140,000 policyholders and since 2001 has built a multi-channel specialist capability ... Read the full article
U.S. Risk acquires Floridian wholesale brokerage Regency
4th September 2019
U.S. Risk, a Property & Casualty wholesaler and Managing General Agent, has announced the acquisition of Regency Insurance Brokerage Services, a Florida-based wholesale brokerage and Managing General Agent. Though terms of the sale have not been disclosed, it has been confirmed that the Regency team will join U.S. Risk Brokers, the ... Read the full article
Ryan Specialty Group to acquire hotel-focused program manager
23rd August 2019
Ryan Specialty Group (RSG) has entered an agreement to acquire the assets and operations of The Suitelife, a program manager based in West Chester, PA that specialises in hotels. Founded in 2010, Suitelife offers package, liability, property, umbrella, auto and workers’ compensation coverages to hotels, resort properties and private resort communities. Its ... Read the full article
U.S. Risk announces purchase of U.S. E&O Brokers
2nd August 2019
U.S. Risk, a Property & Casualty wholesaler and Managing General Agent, has announced the acquisition of U.S. E&O Brokers, a wholesale broker and MGA focused on professional lines coverage for insurance agents. U.S. E&O is headquartered in Houston, Texas, but has additional locations in Connecticut, Colorado and New Mexico. The newly-acquired team ... Read the full article
AXA XL partners with Vindati on Ocean Cargo insurance for SMEs
25th July 2019
The US Marine division of global re/insurer AXA XL has partnered with InsurTech Managing General Underwriter (MGU), Vindati, to offer Ocean Cargo insurance for SMEs through Vindati's proprietary rate, quote, bind, issue online platform. Vindati offers specialty products and an integrated shopping experience for brokers and agents. In addition to offering AXA ... Read the full article
Greenlight Re Innovations invests in specialist travel insurer, Battleface
2nd July 2019
Greenlight Re Innovations, a division of specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has made a strategic investment in specialist travel managing general agent, Battleface, Inc. Battleface specialises in insurance services for travel to remote, unstable or dangerous parts of the world. The company's tech-driven platform is designed ... Read the full article
Marsh names Brian Hanuschak as President of Victor North America Global
20th June 2019
Global re/insurance broker Marsh has appointed Brian Hanuschak as President of North America for Victor Insurance Holdings, its managing general underwriting (MGU) business. The announcement follows the appointment of Christopher Schaper as CEO of AIG’s new reinsurance operations, who previously served as CEO of Victor Insurance Holdings. Hanuschak has led Victor ... Read the full article
Faraday CEO Andrew D’Arcy named as Head of Gen Re International P&C
30th April 2019
Gen Re, the global reinsurance subsidiary of Berkshire Hathaway, has appointed Andrew D’Arcy, current Chief Executive Officer (CEO) of Faraday Syndicate 435, as Head of Gen Re International Property & Casualty. Following the appointment, which is effective May 1, 2019, D’Arcy will relinquish the role of Faraday CEO and will join ... Read the full article