Reinsurance News
Core Specialty
Core Specialty highlighted as Duck Creek’s first customer transacting its Cloud-based SaaS solution
2nd April 2024
Core Specialty has been highlighted as being Duck Creek Technologies' first customer transacting its Duck Creek OnDemand subscription on Microsoft’s commercial marketplace to use its existing Microsoft Azure Consumption Commitment (MACC). In a press release, it notes that Core Specialty recognises the strategic value of acquiring software-as-a-service (SaaS) products through the ... Read the full article
Core Specialty announces Specialty Markets Group transfer from American National
1st March 2024
American National Group is to transfer Specialty Markets Group (SMG), a writer of credit-related insurance products based in the US, to Core Specialty. Mark Walker will join Core Specialty as President of the newly formed Financial Services Division, which will operate as Core Specialty’s 16th specialty business unit within its Bond, ... Read the full article
Core Specialty to invest in Gramercy Risk Holdings, appoints two directors to board
2nd February 2024
Specialty insurer Core Specialty Insurance Holdings, Inc., along with its subsidiaries, has signed a purchase agreement to make a minority investment in Gramercy Risk Holdings, LLC, which provides property and casualty insurance programs for specialty classes of business, including New York Contractors. The funds from the investment are planned to be ... Read the full article
Core Specialty completes acquisition to form Medical Stop-Loss Division
4th December 2023
Core Specialty Insurance Holdings, Inc. and its subsidiaries has completed its acquisition of the MGU/Stop-Loss business of American National Group (ANAT). The acquisition was previously announced in June earlier this year. As a result, this acquisition marks Core Specialty’s 14th Specialty Business Unit. It has also been confirmed that Jim Stelling has ... Read the full article
Core Specialty announces acquisition of American Surety
2nd November 2023
Property and casualty insurer Core Specialty will acquire American Surety in a stock and cash transaction, marking the firm's formation of a Bond, Credit & Guarantee subsegment, alongside other subsegments Property & Short-Tail, Specialty Casualty, and Fronted Programs. Once the deal completes, which is expected in Q1 2024, American Surety will ... Read the full article
Core Specialty to acquire Conifer’s Security & Alarm Business
15th September 2023
Core Specialty and its subsidiaries have entered into a series of transactions with Conifer Holdings to acquire Conifer’s Security & Alarm Business. Core Specialty explained that the Security & Alarm Business provides general liability, excess/umbrella, and selected other coverages to the niche Security Guards, Alarm Contractors, Private Investigators, and Trade Contractors ... Read the full article
Core Specialty enters mortgage reinsurance market
29th August 2023
Core Specialty Insurance Holdings, Inc., and its subsidiaries have entered the mortgage reinsurance market in collaboration with Enact Holdings, Inc. According to the announcement, Core Specialty will provide excess of loss reinsurance on selected Freddie Mac and Fannie Mae mortgages. As part of this initiative, Core Specialty has also entered into an ... Read the full article
Core Specialty forms Medical Stop-Loss Division
12th June 2023
Core Specialty and its subsidiaries, have announced the formation of a Medical Stop-Loss Division through the acquisition of the MGU/Stop-Loss business of American National Group (ANAT). According to the announcement, the business is being acquired for cash through the acquisition of 100% of the stock of Standard Life and Accident Insurance ... Read the full article
Core Specialty integrates Hallmark’s E&S lines operations
9th May 2023
Core Specialty Insurance Holdings, Inc. and its subsidiaries has completed the integration of Hallmark Financial Services, Inc.’s Excess & Surplus Lines operations, with management and 170 employees of the Hallmark E&S business, based in Dallas, Atlanta and Jersey City, New Jersey, transitioning to Core Specialty. Following the deal, the Excess & ... Read the full article
Corvus and Core Specialty team up on Cyber and Tech E&O product
13th April 2023
Cyber underwriter Corvus has announced the launch of a new program with Core Specialty to support the expansion of the Excess Tech E&O and Cyber product with additional capacity. This program is Core Specialty’s first offering in the Cyber and Tech E&O market and also marks a step for Corvus in ... Read the full article
Core Specialty launches excess liability program with Synchronosure
10th January 2023
Core Specialty Insurance Holdings, Inc. and its subsidiaries have announced the launch of an excess liability program in conjunction with Synchronosure, a tech augmented underwriting agency. According to the announcement, the program will provide up to $5m in excess liability coverage, attaching at $11m and higher, to small and middle-market businesses ... Read the full article
Core Specialty makes changes to board of directors
1st December 2022
Core Specialty has appointed David Ni to its board of directors with immediate effect. Ni will be replacing Robert Campbell, who has served on the board since the firm recapitalised in November 2020 as one of two directors designated by Enstar. Ni is the chief strategy officer at Enstar, a ... Read the full article
Core Specialty launching Habitational Excess Liability Program with PRF
30th November 2022
Core Specialty Insurance Holdings, Inc. and its subsidiaries have announced the launch of an excess liability program covering habitational risks with Professional Risk Facilities (PRF). The program will be marketed publicly under the name Habitational Risk Facilities (HRF) and is the second PRF program to receive Core Specialty capacity support. A press ... Read the full article
Hallmark sells E&S operations to Core Specialty
10th October 2022
Property and casualty firm Hallmark has sold its excess and surplus lines operations to Core Specialty. The company said in a statement that the transaction is taking place for $40m cash, plus an estimated $19.9m consideration for the acquisition costs associated with certain net unearned premium reserves. The transaction is comprised of ... Read the full article
Core Specialty enters into underwriting arrangement with AllDigital Specialty
23rd September 2022
Core Specialty Insurance Holdings, Inc. and its subsidiaries have entered into an underwriting arrangement with AllDigital Specialty to provide Director’s and Officers, Employment Practices and Fiduciary Excess Liability Coverage, in support of Small to Medium sized private and non-profit organizations. AllDigital utilizes low-touch/no-touch technology that will enable Core Specialty to operate ... Read the full article