Reinsurance News
Liberty Mutual’s Helmsman completes purchase of Eberle Vivian
13th January 2020
Helmsman Management Services (HMS), the third-party administrator wholly owned by Liberty Mutual, has completed its previously announced acquisition of Eberle Vivian Inc. Eberle Vivian is a third-party administrator (TPA) serving the Pacific Northwest region in the US. “The acquisition – and the continuation of the strong Eberle Vivian brand as an operating ... Read the full article
United grows all other perils catastrophe reinsurance at renewal
10th January 2020
United Insurance Holdings Corp. (UPC Insurance) has announced the successful renewal of its reinsurance arrangements for 2020, through its wholly owned insurance subsidiaries American Coastal Insurance Company, United Property and Casualty Insurance Company, Family Security Insurance Company, and Interboro Insurance Company. Specifically, UPC Insurance has renewed its aggregate excess of loss ... Read the full article
Symetra Financial unit to manage US investments for Sumitomo Life
10th January 2020
Symetra Financial Corporation has established a new investment subsidiary that will help the company’s parent, Sumitomo Life Insurance Company, to invest in US-based assets. The new unit, called Symetra Investment Management Company (SIM), will enable Sumitomo to build on its first investment of $500 million, which was made via a corporate ... Read the full article
Canada’s Intact Financial takes $115mn of cat losses in Q4
10th January 2020
Canadian property and casualty (P&C) insurer Intact Financial Corporation incurred an estimated CA $115 million (US $88 million) of catastrophe losses during the fourth quarter of 2019, pre-tax. The company revealed that it’s losses were concentrated in Canadian property lines, with impacts of approximately $54 million and $48 million pre-tax in ... Read the full article
Brown & Brown completes takeover of Canada MGA Special Risk
10th January 2020
Insurance brokerage firm Brown & Brown, Inc. has completed its acquisition of Canada domiciled managing general agent (MGA), Special Risk Insurance Managers, Ltd. First announced last month, Brown & Brown said that the acquisition is an important step towards its establishment of a presence in the Canadian insurance brokerage sector. Going ... Read the full article
QOMPLX secures 12 US tech patents in 2019
10th January 2020
QOMPLX, an intelligent decision platform provider startup formerly known as Fractal, has announced that it was awarded 12 US patents for innovations in 2019. The patents, which span cybersecurity, insurance, finance and data infrastructure, allow QOMPLX a 20-year period of exclusivity to the technologies. The most recent patent, issued on December 24, ... Read the full article
Helix launches in Bermuda, secures first agency agreement with QBE
10th January 2020
Helix Underwriting Partners Ltd., the first multi-line independent Managing General Agent in Bermuda, has announced the receipt of all necessary approvals to begin operations. At the same time, the company has announced that it has entered into its first agency agreement to underwrite Middle Market Property Insurance on behalf of insurer ... Read the full article
NI holdings completes acquisition of Westminster American Insurance
10th January 2020
Insurance holding company NI Holdings, Inc. has completed its previously announced acquisition of Westminster American Insurance Company from private shareholders for $40 million. NI Holdings believes the acquisition will further diversify its portfolio of products both geographically and line, as additional commercial multi-peril business is introduced into the business mix. Westminster is ... Read the full article
Sarah Stephens named Head of Cyber, International at Marsh JLT Specialty
10th January 2020
Global re/insurance brokerage Marsh has announced the appointment of Sarah Stephens as Head of Cyber, International, within Marsh JLT Specialty, effective immediately. Stephens will serve in this newly created role in addition to her current position as Cyber, Media & Technology Leader within the UK FINPRO Practice. She will take responsibility for ... Read the full article
Hub International acquires RHC Insurance Brokers
10th January 2020
Global insurance brokerage Hub International has acquired Canada-based RHC Insurance Brokers. Terms of the transaction were not disclosed. RHC is an independent insurance brokerage spread throughout British Columbia that provides personal and business insurance. Tammy Darough, Chief Executive Officer and Chief Financial Officer of RHC, will assist Hub International Insurance Brokers, a ... Read the full article
Marsh enhances commercial real estate program
10th January 2020
Global re/insurance brokerage Marsh has added several coverage enhancements to its ZMAX commercial real estate insurance program, including cyber liability. Marsh said that the enhancements were designed to address potential gaps in insurance coverage faced by US mid-size commercial real estate firms. ZMAX plus is a single-carrier solutions that aims to help ... Read the full article
CFC announces new cyber excess policy
10th January 2020
Specialist insurer CFC has announced the release of its new cyber excess solution, which gives small and medium sized businesses access to up to $10 million of excess cyber capacity. Offered globally and built for organisations with up to $1 billion in revenue, the policy also provides an automatic reinstatement of ... Read the full article
Liberty Specialty Markets promotes Meghan Walker to Head of Aviation
10th January 2020
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has announced the appointment of Meghan Walker as Head of Aviation for the London Market Specialty division. In this role, Walker will be responsible for delivering LSM’s global Aviation strategy, and for leading and developing aviation underwriting team. Meanwhile, Bill Halligan, ... Read the full article
Insurtech start-up fund Brewer Lane Ventures launches
10th January 2020
Brewer Lane Ventures, a fund focused on investing in insurtech start-ups, has announced its launch, and the appointment of key members of its team. The company was founded by John Kim, the former President and Chief Investment Officer at New York Life Insurance Company. Also joining Brewer Lane Ventures is Managing Partner ... Read the full article
Insured bushfire losses jump to $645mn in Australia
10th January 2020
Re/insurance industry losses from the catastrophic bushfires still burning through southeastern Australia continue to increase, with the Insurance Council of Australia (ICA) now estimating total insured losses at US $645 million (AU $939 million). The new figure represents a jump of 33% compared with the ICA’s previous loss estimate on ... Read the full article
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