Reinsurance News
Spinnaker
AM Best assigns A- ratings to Spinnaker’s 100% reinsured subsidiary Wingsail
15th January 2025
Global credit ratings agency AM Best has assigned Wingsail Insurance Company, a fully reinsured subsidiary of Spinnaker Insurance Company, a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of “a-”, with a stable outlook. AM Best has also affirmed the same ratings and stable outlook for Spinnaker Insurance ... Read the full article
AM Best affirms Excellent credit ratings for Spinnaker Insurance Group
3rd January 2024
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) for Spinnaker Insurance Company and its 100% reinsured subsidiaries, Spinnaker Specialty Insurance Company, and Mainsail Insurance Company. Collectively known as Spinnaker Insurance Group, all companies are headquartered in Bedminster, NJ. The ... Read the full article
Hippo completes $110m debut catastrophe bond
1st June 2023
Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings Inc., has announced the successful sponsorship of Mountain Re Ltd. Series 2023-1 catastrophe bond. As part of the transaction, Spinnaker is entering into a reinsurance contract with Mountain Re that offers protection against a variety of perils, including named storms, fire ... Read the full article
Spinnaker appoints Charles Valinotti as Chief Program and Underwriting Officer
5th April 2023
Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings Inc,, has appointed Charles Valinotti as its Chief Program and Underwriting Officer. Within the role, he will lead the firm’s team of program underwriters, who are responsible for managing the carrier’s diverse portfolio of third-party programs. Overall, Valinotti brings 30 years of ... Read the full article
AM Best assigns positive credit ratings to Spinnaker
12th July 2021
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Spinnaker Specialty Insurance Company (Spinnaker Specialty) (headquartered in Bedminster, NJ). The outlook assigned to these Credit Ratings (ratings) is stable. AM Best says the ratings reflect Spinnaker Specialty’s balance sheet strength, ... Read the full article
Spinnaker hires Torben Ostergaard as CEO
14th May 2021
Spinnaker Insurance Company, a fronting carrier wholly owned by insurtech group Hippo Enterprises, has appointed Torben Ostergaard as its new president and chief executive officer. Ostergaard joins Spinnaker after more than a decade in c-suite roles at insurance and financial services firm USAA. He succeeds Dave Ingrey, who will transition to chief ... Read the full article
Battleface enters partnership with Spinnaker
12th May 2021
Travel insurance provider Battleface has partnered with Spinnaker Insurance Company, a fronting carrier wholly owned by insurtech group Hippo Enterprises. The partnership will give battleface the flexibility required when designing products for B2B2C markets, with a range of modular benefits and services that are best suited for customising products to fit ... Read the full article
HDVI partners with Munich Re & Spinnaker
26th March 2021
Commercial auto insurance business High Definition Vehicle Insurance (HDVI) Group has announced new partnerships with Munich Re Specialty Insurance and Spinnaker Insurance Company. Munich Re Specialty Insurance will support and collaborate with HDVI around its risk solutions, while Spinnaker will serve as the insurance company for the HDVI program. Meanwhile, HDVI’s captive, ... Read the full article
Spinnaker’s ratings placed under review by AM Best following Hippo deal
5th June 2020
A.M. Best has placed the credit ratings of Spinnaker Insurance Company under review with developing implications after it was announced the company is to be acquired by InsurTech firm Hippo. As we wrote recently, Hippo has entered into a definitive agreement to acquire Spinnaker as the InsurTech looks to expand ... Read the full article
InsurTech Hippo adds Spinnaker to family of companies
3rd June 2020
Hippo, the California-headquartered, homeowners focused InsurTech, has entered into a definitive agreement, pending regulatory approval, to acquire Spinnaker Insurance Company. Founded in 2015, Hippo looks to transform home insurance and ownership by providing a more efficient and affordable service to U.S. homeowners. Since 2017, Hippo Insurance Services has partnered with Spinnaker as ... Read the full article
Technology key to Spinnaker’s role as conduit for risk and capital
29th March 2019
Spinnaker Insurance Company, a program and fronting start-up, sees the adoption and use of technology throughout the value chain as critical to its business model as it looks for increased scale. Spinnaker was launched in 2015, and focuses on writing property and casualty exposed programs from U.S. homeowners and specialty business ... Read the full article
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