December 14, 2021
Brit Ltd. announced it has piloted the first continuous binder at Lloyd’s for delegated authorities, which will go live in January 2022. Continuous contracts form a key part of the Future at Lloyd’s vision for delegated underwriting, said Brit. The …
March 24, 2021
Lloyd’s has launched a parametric earthquake insurance policy in New Zealand, in partnership with start-up Bounce Insurance, which uses cutting-edge technology and real-time data to automatically pay customers within five days of a strong earthquake. The new product, also called …
March 18, 2021
Over the last decade, as insurers and reinsurers have sought profitable opportunities for growth, they increasingly have handed the underwriting pen to managing general agents, managing general underwriters, program administrators and other underwriting agencies. These specialized distribution partners have not …
March 17, 2021
With the volume of premium generated by managing general agents and other delegated underwriting authority enterprises (DUAEs) rocketing skyward in recent years, AM Best had decided it is time to deliver assessments of these entities. “What we’ve seen is really …
December 11, 2020
UK startup battleface Inc., a company that specializes in tech-enabled global travel insurance, announced a $12-million Series A financing round from Drive Capital, a Columbus, Ohio-based venture capital firm. The investment will be used to fund growth and market expansion …
November 5, 2020
AEC Wholesale Group, a subsidiary of Coverys European Holdings (CEH), announced the acquisition of Gava S.R.L, a Lloyd’s coverholder based in Brindisi, Italy. AEC Group will assume 100% ownership of Gava, bringing the Italian Lloyd’s coverholder into its existing network …
January 16, 2020
Insurtech startup battleface Inc., a UK firm that provides travel insurance products for unconventional travelers worldwide, announced it has successfully closed its seed financing round with backing from leading strategic and venture capital investors. Atlanta, Ga.-based Fintech Ventures Fund has …
October 24, 2019
Beazley, the London-based specialist insurer, is making a strategic investment in Hong Kong-based coverholder, Pegasus Underwriting Ltd. The investment will see Beazley become a 30% shareholder in Pegasus. Beazley said it began working with Pegasus in January 2019 under an …
April 18, 2019
Munich Re Syndicate Singapore (MRSS) has formed a partnership with Nectar Specialty Risk Pte Ltd. (Nectar), a Singapore incorporated limited liability company and Lloyd’s coverholder that provides tailor-made re/insurance solutions. Nectar’s professional line products are offered under the trading name …
March 8, 2019
Tribal First, a division of Alliant Underwriting Solutions, has acquired Ottawa, Canada-based AFN Insurance Brokerage. Financial details of the transaction were not disclosed. The acquisition pairs AFN Insurance Brokerage, which is Canada’s First Nations’ insurance leader, with Tribal First, the …