Reinsurance News

Core Specialty

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

AM Best revises outlooks for Core Specialty’s subsidiaries to positive

8th August 2022

Rating agency AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-“ (Excellent) of StarStone Specialty Insurance Company and StarStone National Insurance Company - both domiciled in Wilmington, DE and collectively are ... Read the full article

Core Specialty adds three underwriters to E&S primary product liability line

19th July 2022

Core Specialty and its subsidiaries have appointed three underwriters as the company expands its excess & surplus (E&S) primary product liability line. Joining the team are Guy Harris, AVP Underwriter, Jason Rockel, Lead Underwriter, and Matt Madar, Senior Underwriter. Harris, Rockel and Madar were all most recently with AmTrust E&S Insurance Services. ... Read the full article

Core Specialty completes $65m cat bond

7th June 2022

Core Specialty has completed its $65 million multi-year Yosemite Re 144A catastrophe bond. The firm said in a statement that this was the final element of Core Specialty’s Property reinsurance program for 2022. The 2022 Program attaches at $50 million and exhausts at $570 million. Core Specialty also said that the ... Read the full article

Core Specialty recruits Ann Brady as Agriculture SVP

18th May 2022

Specialty property and casualty (P&C) insurer Core Specialty Insurance Holdings has announced the appointment of Ann Brady as Senior Vice President of Agriculture. Brady brings decades of agriculture insurance knowledge, specifically serving as an Agriculture reinsurance broker for the previous twelve years with Guy Carpenter. In her new role, she will report ... Read the full article

Core Specialty names President of newly formed Equine Division

14th April 2022

Core Specialty Insurance Holdings has announced the appointment of Kevin Eagen who joins the company as President of its newly formed Equine Division. Equine Division represents Core Specialty's 11th Specialty Business Unit. In a press release, it states that Equine Division offers a variety of products, including equine mortality, loss of use, ... Read the full article

Core Specialty hires Ambac’s Scott Snyder to lead new Fronting Division

7th March 2022

Core Specialty Insurance Holdings, Inc. has hired Scott Snyder as President of Fronted Programs, as the carrier launches its Fronting Division in "recognition of the magnitude and relevance of this line of business" to the company. In 2021, Core Specialty notes that this business line generated $441 million of gross written ... Read the full article

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