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Specialty insurance provider Ryan Specialty reported it has completed the acquisition of Velocity RiskUnderwriters, LLC from funds managed by Oaktree Capital Management, L.P. Based in Nashville, Tennessee, Velocity is a managing general underwriter (MGU) providing first-party insurance coverage for …
Envelop Risk, the reinsurance managing general agent and analytics specialist, announced the launch of Envelop Underwriting, which will encompass all existing cyber underwriting activities: Envelop Risk Bermuda and Envelop at Lloyd’s, including the Envelop Risk SPA 1925. Dom Peters has …
United Risk, a subsidiary of Applied Underwriters, announced it has formed a multi-line reinsurance managing general agent. Jay Cahill, previously United Risk’s chief financial officer, has been named chief executive officer of the new MGA. He will be succeeded as …
Ryan Specialty, a specialty insurance services firm and trading partner for agents and brokers, plans to acquire Nashville-based Velocity RiskUnderwriters, with a closing date early this year. Velocity Risk, providing coverage for catastrophe-exposed properties, is a managing general underwriter …
Insurance Carriers are reducing their appetite for risk and increasing premiums. This post is part of a series sponsored by TSIB. This means they are being much more selective in what they are willing to insure. If they are going …
property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection. P/C insurers posted an underwriting loss … A report from industry rating agency AM Best this week said U.S.
Ryan Specialty, headquartered in Chicago, named new leadership within its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). Quinn joined RSUM through the acquisition of All Risks … Eric Quinn was promoted to executive vice president – capital and product strategy.
Alera Group announced the acquisition of Insurance Underwriters Ltd., a Louisiana-based insurance agency offering risk management and insurance solutions including business insurance, surety bonds, personal insurance and employee benefits.
Ryan Specialty, Chicago-based specialty insurance services firm, announced that Paradiso Risks is joining Alive Risk, Ryan Specialty’s sports, leisure and entertainment managing general underwriter. London-based Paradiso became part of Ryan after its acquisition of Castel Underwriting Agencies in May 2024.
Pen Underwriting has relaunched its cyber proposition for large corporate clients with a comprehensive rebuild that sees it re-enter primary cover for this end of the market, double its excess of loss (XOL) limit and introduce a significantly broader risk …
Unison Risk Advisors (URA) reports that Avondale Insurance Associates has joined the firm and is the first company to join URA’s non-retail division. Established in 2006, Avondale Insurance Associates is an excess and surplus lines underwriting management company across all …
During a recent market briefing, Rachel Turk, Lloyd’s chief underwriting officer, … While the Lloyd’s market reported its best first-half profit in 17 years, it isn’t resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified.
has been sold to Emerald Bay Risk Solutions, an underwriter and fronting carrier that was launched earlier this year. One year after it was approved for the Florida market, Mainsail Insurance Co. The move will help expand business in the …
Novatae Risk Group, a managing general agency, program manager and wholesale brokerage, said it has launched its new miscellaneous professional liability program with a focus on fast quoting for brokers and exceptional claim service for insureds. With underwriting handled in-house …
JM Wilson, headquartered in Portage, Michigan, added new members to its transportation underwriting team. Olga Jaquet was promoted to senior transportation underwriter, responsible for underwriting new and renewal commercial transportation risks and working with carrier underwriters and independent insurance agents …
Applied Underwriters has spun-off United Risk as an independent, stand-alone operating company. United Risk, which was announced in November 2023, is a global property/casualty underwriting platform comprised of 28 different managing general agent (MGA) and underwriter (MGU) specialized insurance programs.
Starwind Specialty Insurance Services, headquartered in New York City, named Kirk Conrad as chief underwriting officer. Conrad, based in Dallas, has over two decades of experience across multiple industry sectors, spanning roles in commercial and personal lines, risk management and …
Ignite Specialty Risk Names Patel as US Head of Intellectual Property Underwriting Ignite Specialty Risk, headquartered in London, appointed Ankit Patel as U.S. head of intellectual property (IP) underwriting. With more than a decade of experience, Patel specializes in contingent …
Novatae Risk Group, headquartered in Dallas, named Nick Greggains as president. Greggains is a member of the executive leadership team focusing on improving underwriting discipline, developing and implementing growth strategies, managing relationships with key clients and overseeing operational excellence. Greggains …
JM Wilson, headquartered in Portage, Michigan, hired Savana Musolf and Lisa Hudson as assistant property and casualty underwriters. Musolf works with independent insurance agents and company underwriters in Michigan and Texas. Before joining JM Wilson, Musolf worked for over two …
LM Re Taps Vantage Risk’s Sweeney as Specialty Casualty Underwriting Manager Liberty Mutual Reinsurance (LM Re), part of … This edition of International People Moves details appointments at Liberty Mutual Reinsurance and Marsh. A summary of these new hires follows here.
December 9, 2024 Etesian Underwriters, an expert financial institutions underwriting shop, today announced the launch of its program for middle market and smaller sized financial institution insureds. SCOTTSDALE, Ariz., Focused on a robust list of investment services and related …
Liberty Specialty Markets (LSM), a division of the US Liberty Mutual Group, and Baobab Insurance, a digital underwriter of technical risks, are offering a new joint e-crime insurance product for small and medium-sized enterprises (SME) in Germany and Austria. LSM …
ZestyAI, a provider of climate and property risk analytics solutions powered by artificial intelligence (AI), announced it has received approval for use in rating and underwriting from the Texas Department of Insurance for its complete suite of Severe Convective Storm …
SureChoice Underwriters Reciprocal Exchange in partnership with SageSure launched a non-admitted business owners policy in California. The program will service more than 400 business classes across eight industries, including restaurants, offices, wholesale, habitational, lessor risks, retail, service, and artisan contractors.
The entity will now function as a newly formed managing general agent and includes the residential earthquake riskunderwriting franchise. SageSure closed the acquisition of GeoVera Advantage Insurance Services LLC in Fairfield, California. As part of the transaction, SageSure has …
In the ever-evolving insurance industry, data analysis has become a cornerstone of the underwriting process. By leveraging data, underwriters can make more informed decisions, assess risks more accurately, and improve … This post is part of a series sponsored by Selectsys.
Underwriting carrier Emerald Bay Risk Solutions announced a partnership with Vanderbilt Properties Associates, Inc., a risk purchasing group comprising a large portfolio of high-end residential and commercial real estate properties as its members, to launch its inaugural casualty program. The …
Africa Specialty Risks (ASR), the pan-African and Middle East-focused reinsurance group, announced that has begun operating as a Lloyd’s service company. As a Lloyd’s service company, ASR’s UK based entity, Africa Specialty Risks Ltd. is underwriting on behalf … ASR Ltd.),
This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd. (a The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. a specialist reinsurance MGA) to focus on its core …
Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory …
have announced that Lloyd’s has granted “in principle” approval for Awbury Syndicate 2025 to commence underwriting from Jan. Awbury Syndicate 2025 is focused on credit risks and will initially target … The Awbury Group and Polo Managing Agency Ltd.
President: Virginia Clancy, TAPCO Underwriters President-elect: Albert Geraci, Risk Placement Services … The Florida Surplus Lines Association, which notes it provides a safety valve for Florida’s property insurance industry, named new officers for 2024-2025 at its recent annual convention in Tampa.
property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection, most notably in the personal lines sector. By Chad Hemenway The U.S. A report from industry rating agency AM Best …
As Cyber and Technology Errors & Omissions (Tech E&O) risks grow, insurers face increasing pressure to provide accurate, fast, and competitive coverage. Underwriters need tools that reduce complexity, integrate easily … This post is part of a series sponsored by Selectsys.
In the rapidly evolving world of digital insurance, underwriting can feel like a juggling actespecially when risk data is spread across multiple eTrade platforms, broker portals, and digital partners. How bi-directional integration can help align your underwriting process with those in eTrade and broker applications.
The C&F Credit Division underwrites and manages credit insurance products, including mortgage credit and alternative credit risk solutions, primarily for … Insurer Crum & Forster, a subsidiary of Fairfax Financial Holdings Limited, has sold its C&F Credit Division to Amynta Group.
Fidelis Insurance Group, a Bermuda-based global specialty re/insurer, announced a new strategic partnership with Euclid Mortgage Insurance Services LLC, a managing general agency that specializes in underwriting credit risk on portfolios of residential mortgages. Fidelis Insurance Group will provide reinsurance …
As cyber insurance rates have begun to stabilize, insurance carriers are seeking more diversification to fuel their underwriting and growth strategies, according to panelists at this year’s PLUS Cyber Symposium in New York City. “They’re seeking diversification in the standard …
XPT Specialty, headquartered in New Haven, Connecticut, appointed Tyler Myers as transportation underwriter. Myers has over 10 years of experience as a broker specializing in underwriting commercial automobile risks. He began his career as an associate underwriter at Burns & …
construction team with five new hires who will join Allianz Commercial’s Master Builder’s Risk team by mid-April. Kristen Hoskinson was appointed executive underwriter team leader for Allianz Commercial. Allianz Commercial, headquartered in New York City, expanded its U.S. Based in …
JM Wilson Promotes Staruch, Dodd and Ladik and Re-Hires Snyder-Knutson JM Wilson, headquartered in Portage, Michigan, Natalie Staruch was promoted to executive property & casualty (P&C) underwriter. She underwrites new and renewal commercial risks, working with carrier underwriters and independent …
Resilience is expanding the availability of its cyber risk solutions to serve large enterprise accounts with revenue greater than $10 billion. The expanded underwriting authority provides broker partners with more options in addressing clients’ complex cyber risks. The expansion is …
Commencing underwriting from Jan. American International Group announced it has led the launch of a new reinsurance syndicate at Lloyd’s. 1, 2025, Syndicate 2478 will be a multi-year participant on AIG’s outwards reinsurance program. The syndicate, which will be managed …
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