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Palomar links up with Omaha National

27th July 2022

Palomar has gone into a two-year arrangement with Omaha National. Under the partnership, Palomar Specialty Insurance Company (PSIC) will act as the insurer in California to help support Omaha National’s workers compensation product. Omaha National, through its managing general agent, Omaha National Underwriters, will be overseeing the insurance operations including underwriting, ... Read the full article

Omaha appoints Bryan Connolly Chief Operating Officer

23rd June 2022

Omaha National has appointed Bryan Connolly as Chief Operating Officer. Connolly, who co-founded Omaha National in 2016, previously served as Chief Financial Officer. Reagan Pufall, Omaha National President and CEO, said: "As CFO, Bryan led vital initiatives like the authorization of Omaha National Insurance Company, establishing our reinsurance program, creating ... Read the full article

RGAX partners with Mutual of Omaha on blockchain-powered workflows

8th October 2019

RGAX, a subsidiary of Reinsurance Group of America, Incorporated, has partnered with primary carrier Mutual of Omaha to explore reinsurance workflows powered by blockchain technology. The parties completed a proof of concept that the allowed them to experiment with the automation of reinsurance transaction using distributed ledger and smart contract technology. The ... Read the full article

Vibhu Sharma appointed CFO and Treasurer of Mutual of Omaha

24th May 2017

Mutual of Omaha has named Vibhu R. Sharma as Executive Vice President (EVP), Chief Financial Officer (CFO) and Treasurer, replacing David A. Diamond who is leaving the firm after almost twelve years. Sharma joins the firm on June 26th 2017 and will work closely with Diamond, who leaves the firm on July 31st, 2017, ... Read the full article

Centauri carriers’ A rating affirmed as Demotech announces revisions

4th August 2022

The Centauri insurance companies, which operate in Hawaii and along many of the coastal states in the U.S., have had their 'A' (Exceptional) rating affirmed by Demotech, a move it says reflects disciplined underwriting and its robust reinsurance program. The anticipated changes to ratings of property insurers with a Florida focus ... Read the full article

Socotra raises $50mn in Series C funding round

17th March 2022

Comprehensive cloud-native insurance core system Socotra has closed a $50 million Series C funding round led by Insight Partners, highlighting the company’s rapid growth and success, with annual recurring revenue (ARR) increasing more than 9.5x over the last three years. The funding will be used to further expand product functionality, broaden ... Read the full article

Berkshire Hathaway adds two to Board of Directors

21st October 2021

Warren Buffett’s insurance and reinsurance entity, Berkshire Hathaway Inc., has announced the additions of both Susan A. Buffett and Christopher C. Davis to its Board of Directors. Susan Buffett currently serves as the Chairperson of the Susan Thompson Buffett Foundation and also the Chair of the Sherwood Foundation, both of which ... Read the full article

Centauri maintains “A” rating following acquisition by Applied Underwriters

23rd March 2021

The Centauri Specialty and National Insurance Companies have sustained a Financial Stability Rating of "A" (Exceptional) from Demotech following their acquisition by Applied Underwriters. Demotech said its decision followed extensive examinations measuring claims paying ability, financial reserves and overall financial stability. It says the Sarasota-based insurer, with over $200 million in annual ... Read the full article

Applied Underwriters acquires Florida Casualty Insurance Company

16th March 2021

Risk services firm Applied Underwriters has announced the acquisition of Florida Casualty Insurance Company (FCIC), formerly Ashmere Insurance Company. The newly re-branded FCIC is based in Fort Lauderdale and licensed in 41 states. Once approved, the acquisition will form part of Applied Underwriter’s strategy to expand in key US and international markets. "Enterprises ... Read the full article

Aon / WTW deal circled by merger arb & event driven hedge funds

26th February 2021

The Aon and Willis Towers Watson (WTW) deal, which will be the largest insurance and reinsurance broker merger or acquisition in history, is now attracting significant attention from investors in the merger arbitrage and event driven hedge fund space. Just in the last two weeks, we've heard from numerous global investment ... Read the full article

Applied Underwriters expands FL unit

7th January 2021

Applied Underwriters has formed a US based division of its Applied Financial Lines business unit. The division will provide a variety of Directors & Officers coverages in the US under the direction of newly named division President, Stephen McGill. Applied Financial Lines' US operation will be headquartered in New York City. This news ... Read the full article

Marsh & McLennan Agency acquires INSPRO

4th December 2020

Marsh's marketing agency subsidiary, Marsh & McLennan Agency, has acquired INSPRO, an independent agency in Nebraska. INSPRO was first established over 8 years ago and provides business insurance, employee benefits, and personal lines insurance services to individuals, families, and SME’s throughout the region. INSPRO’s 138 colleagues will join MMA and continue to ... Read the full article

Berkshire Hathaway plans virtual 2021 shareholder meeting

3rd December 2020

Warren Buffett's Berkshire Hathaway has announced that its 2021 annual meeting of shareholders will be held virtually on May 1st. The format for next year’s meeting will be similar to the 2020 meeting, which could not be held in-person due to the ongoing COVID-19 pandemic. Like this year, shareholders will instead be ... Read the full article

Global Insurance Accelerator boosts funding for 2020 insurtech cohort

7th October 2019

The Global Insurance Accelerator (GIA), an insurtech-focused business accelerator, has announced changes to its funding structure beginning with the 2020 cohort of start-ups. Notably, the GIA has nearly doubled the seed funding investment granted to successful applicants, boosting it from $40,000 to $75,000 via a post-money Simple Agreement for Future Equity ... Read the full article

Athene helps take on $940mn of pension liabilities from Dana Incorporated

26th June 2019

Athene Holding Ltd., the Bermudian retirement services company owned by private equity firm Apollo Global Management, has taken on a portion of a $940 million block of pension liabilities from Dana Incorporated, a provider of power-conveyance and energy-management solutions for vehicles and machinery. Under the agreement, Dana will transfer all the ... Read the full article