Size matters, according to a new report on the insurance brokerage market by Advisen Ltd. As a result, the frenetic pace of consolidation in the brokerage sector will be only temporarily slowed by the global economic recession.
“Large brokers enjoy certain advantages of scope and scale,” said John Molka III, the author of the report. “At [...]
Duck Creek Technologies, Inc. a leading provider of software and service solutions for the insurance industry, today announced that United America Indemnity Group, Inc. (”United America”) has implemented Duck Creek’s Policy Administration solution for a number of its Commercial ISO lines products. The PA-based carrier went live within six months with a custom Vacant Property [...]
Olympus Managed Health Care Inc. a leading provider of health care claims administration and cost containment services, announced the appointment of Robert Lavers as Senior Consultant. In this newly created role, Mr. Lavers will have overall responsibility for the firm’s business development and expansion initiatives throughout Asia.
“We are very pleased to have Bob join our [...]
Fitch Ratings has affirmed its ratings on Flagstone Reinsurance Holdings, Ltd. and subsidiaries (collectively Flagstone) and removed the ratings from Rating Watch Negative. The Rating Outlook is Stable. (A full list of ratings is included at the end of this release.)
Fitch’s rating actions reflects its view that Flagstone is no longer actively pursuing the [...]
PartnerRe Ltd.announced that David Zwiener has been appointed to fill a vacancy on its Board of Directors effective July 7, 2009.
Mr. Zwiener, aged 54, is an experienced insurance industry executive. Between 2000 and 2007 Mr. Zwiener was President and Chief Operating Officer of the property and casualty operations at Hartford Financial Services Group Inc. In [...]
Fitch Ratings has affirmed its ratings on Flagstone Reinsurance Holdings, Ltd. and subsidiaries (collectively Flagstone) and removed the ratings from Rating Watch Negative. The Rating Outlook is Stable. (A full list of ratings is included at the end of this release.)
Fitch’s rating actions reflects its view that Flagstone is no longer actively pursuing the [...]
Zurich North America Commercial’s Accident & Health (A&H) group and Presidio Reinsurance Group announced today their formation of a strategic relationship to provide a broad range of risk-relief programs to the health care market.
As industry leaders with a long-term commitment to the accident and health industry, Zurich and Presidio will leverage their extensive portfolio of [...]
Allied World Assurance Company Holdings, Ltd announced through its U.S.-based Darwin subsidiary, a new program with Jardine Lloyd Thompson (JLT) Facilities, Inc. in conjunction with the rollout of Darwin’s nationwide standard market Lawyers Professional Liability (LPL) product. JLT will be underwriting on behalf of Darwin on an admitted basis in New York, New Jersey, Illinois, [...]
PartnerRe announced that it has entered into definitive agreements to acquire PARIS RE a French-listed, Swiss-based diversified reinsurer. PartnerRe will exchange 0.30 of its common shares for each PARIS RE common share outstanding in a stock-for-stock transaction.
This acquisition is expected to add $1.7 billion in new shareholders’ equity to PartnerRe. Separately, PARIS RE is expected [...]
RenaissanceRe Holdings Ltd. announced the successful completion of the “Safe Homes for All” Risk Mitigation Leadership Forum, held in Washington, D.C. on June 24th. The Forum’s principal sponsors were RenaissanceRe’s affiliate, WeatherPredict Consulting Inc. and the RenaissanceRe Risk Sciences Foundation, together with leading non-profit organizations Federal Alliance for Safe Homes – FLASH®, the Institute for [...]
