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Mallie Joins Spencer Re as Chief Executive Officer

Puerto Rico-based Spencer Re, a Spencer Capital Holdings company, announced that Tina Youngblood Mallie has joined the firm as chief executive officer. Mallie also serves as vice chair of Spencer Capital Holdings. Mallie joins Spencer Re most recently from Cunningham …

Progressive Insurance Acquiring Homeowners Group ASI for $875M

Auto insurance giant Progressive Insurance is enhancing its homeowners insurance offerings by acquiring controlling interest in a Florida-based group of insurers now selling homeowners, renters, condo, umbrella, flood  and other property/casualty coverages in about half the states nationwide. The Progressive …

Insurance Tech Firms Majesco, Cover-All to Merge

Insurance tech-company Cover-All Technologies plans to merge with rival Majesco, a deal that will create an operation with $100 million in annual revenue and a global reach. Majesco (formerly MajescoMastek) founder and CEO Ketan Mehta will become president and CEO …

UPC Insurance to Acquire Family Security Holdings

United Insurance Holdings Corp. (UPC Insurance) said it plans to acquire Family Security Holdings LLC for $9 million. The transaction is expected to close by Jan. 31, 2015. FSH is an insurance holding company with two wholly owned subsidiaries, Family Security Insurance …

Terrorism Insurance Bill Tagged with Community Bank Provision

When the U.S. House of Representatives approved a terrorism insurance bill last week, it contained a little-noticed provision that would require at least one member of the Federal Reserve’s board to have community banking experience. That provision appears destined to …

China Journal Says Planned Insurance Trust Fund to Start with $6.5 Billion

A planned insurance fund for China’s trust industry will have an initial size of around 40 billion yuan ($6.47 billion), the state-owned China Securities Journal reported on Saturday, citing unidentified officials from the banking regulator. The fund, the first of …

Zurich Insurance to Offer Direct Lending in Europe to Boost Returns

Zurich Insurance Group AG, Switzerland’s largest insurer, is about to make its first investments in European direct lending, including infrastructure debt. The insurer wants to lend to small to medium-sized European companies and commercial real estate owners to finance infrastructure …

Incoming Kansas Insurance Regulator Wants More Competition in State

The accountant and industry executive taking over as Kansas’ top insurance regulator next month says creating a more robust market is a top goal and argues that greater competition will address problems with the federal health care overhaul. Insurance Commissioner-elect …

Accident Fund Holdings Picks Dibean to Direct Business Liaison Office

Lansing, Mich.-based insurer Accident Fund Holdings Inc. has appointed Jaime Dibean as director of the business liaison office. Dibean is responsible for managing the business liaison office team, including coordinating new project initiatives and helping formulate business plans and estimates …

Zepnick Named Upper Midwest Region VP for Liberty Mutual Business Insurance

Timothy Zepnick has been appointed regional vice president for business insurance in Liberty Mutual Insurance’s upper Midwest region. Zepnick will be based in Waukesha, Wis., and is responsible for the profitable growth of business in the six state territory that …

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