Reinsurance News
Protective Insurance Corporation
Protective Life’s leader Bielen to retire at year-end, Wells to succeed as President and CEO
15th May 2026
Daiichi Life Group's US subsidiary, Protective Life Corporation, has disclosed that its Chief Executive Officer (CEO), Rich Bielen, is set to retire at the end of 2026 and be succeeded by Paul Wells, currently President & Chief Financial Officer (CFO), as President and CEO, effective January 1st, 2027. Bielen has served ... Read the full article
Protective targets specialty P&C insurance expansion with Obsidian acquisition
28th April 2026
Protective Life Corporation's principal subsidiary, Protective Life Insurance Company, is set to acquire property, casualty and specialty insurance platform, Obsidian Insurance Holdings, Inc. and its affiliates, from private equity firm Genstar Capital. The deal, which is expected to close in the fourth quarter of 2026 or first quarter of 2027, will ... Read the full article
Protective reports Q1 net income of $12.9mn
6th May 2021
Property and casualty insurance holding company Protective Insurance Corporation has reported a net income of $12.9 million, a vast improvement compared to its net loss of $22.2 million, for the prior year’s first quarter. Gross premiums written for the first quarter of 2021 increased 8.2% to $145.1 million compared to $134 ... Read the full article
Protective narrows underwriting loss in Q3
4th November 2020
Property and casualty insurance holding company Protective Insurance Corporation (PIC) has announced its results for Q3 2020, revealing that it narrowed its underwriting loss to $364,000 compared with a loss of $7.8 million for the same period last year. This meant that Protective's underwriting Read the full article
Underwriting actions take hold at Protective in Q2
7th August 2020
Indiana, U.S. headquartered insurer, Protective Insurance Corporation, has reported an improved loss ratio and combined ratio for the second-quarter of 2020 as actions to enhance its underwriting performance start to have an effect. Protective has reported a combined ratio of 101.4% for Q2 2020 compared with 107% in the prior year ... Read the full article
Protective Insurance sees decline in GWP amid underwriting actions
28th February 2020
Protective Insurance Corporation has reported net income of $3.8 million for the fourth-quarter of 2019, while efforts to improve underwriting profitability resulted in a slight decline in gross written premiums (GWP). Net income of $3.8 million represents a significant improvement on the $24.6 million net loss reported for the same period ... Read the full article
Protective completes reinsurance transaction with Great-West Lifeco
4th June 2019
Great-West Lifeco Inc. subsidiary, Great-West Life & Annuity Insurance Company (GWL&A) has completed the sale, via reinsurance of all of its individual life insurance and annuity business to Protective Life Insurance Company, a subsidiary of Protective Life Corporation. The transaction was previously announced on January 24th, 2019 and the business sold includes bank-owned ... Read the full article
Jeremy Johnson named CEO of Protective Insurance
22nd May 2019
Protective Insurance Corporation has revealed that its Board of Directors has appointed Jeremy D. Johnson as Chief Executive Officer (CEO), effective May 22nd, 2019. The appointment sees Johnson become a member of the firm's Board of Directors. He most recently served as President of US Commercial at AIG, and has also served ... Read the full article
Protective to reinsure Great-West Life’s individual life & annuity business
24th January 2019
Subsidiaries of Protective Life Corporation (Protective) are set to acquire, via reinsurance, substantially all of the individual life insurance and annuity business of Great-West Life & Annuity Insurance Company (GWL&A). The agreement sees Protective subsidiaries, Protective Life Insurance Company, and Protective Life & Annuity Insurance Company, acquire the business through reinsurance, ... Read the full article
Protective names Jay Nichols as Interim CEO
19th October 2018
Protective Insurance Corporation (formerly Baldwin & Lyons, Inc.) has appointed Jay Nichols as Chairman of the Board and Interim Chief Executive Officer (CEO) following the resignation of the company's CEO, President and Chief Operating Officer (COO) W. Randall Birchfield. Nichols served as CEO of global property and casualty (P&C) reinsurer AXIS ... Read the full article
Baldwin & Lyons rebrands to Protective Insurance Corporation
3rd August 2018
Property and casualty insurance holding company Baldwin & Lyons has announced that it will now commence operating under its new name, Protective Insurance Corporation. In May 2017, the company’s underwriting subsidiaries, Protective Insurance Company, Sagamore Insurance Company, and Protective Specialty Insurance Company, also rebranded under the Protective Insurance name. Baldwin & Lyons ... Read the full article
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