Providence Mutual recently notified state regulators that it is exiting the auto insurance business for both commercial and personal lines in the four states where it currently offers the coverages – Connecticut, Maine, New Hampshire and Rhode Island. The company …
Lonmar Global Risks, part of Bridge Specialty International, Brown & Brown Inc.’s International Wholesale and Specialty division, has acquired the renewal rights for a bloodstock portfolio from Norwich, England-based St. Benedicts Ltd. Financial details of the transaction were not disclosed. …
New Jersey-based specialty lines program administrator Axon Underwriting Services has acquired the renewal portfolio of Allianz Global Corporate & Specialty’s (AGCS) U.S. contaminated and consumer products recall insurance business written through Allianz Global Risks US Insurance Co. The transaction builds …
Sompo International, a Bermuda-based specialty provider of property and casualty re/insurance, announced its London market insurance platform has agreed to acquire Novae Syndicates Ltd.’s financial institutions’ (FI) renewal rights. The purchase, which excludes emerging markets business, encompasses a portfolio that …
Aspen Managing General Agency (MGA) and Midlands Management of Texas announced that Aspen MGA has acquired the renewal rights of the Texas personal auto business currently managed by Midlands Management. Richard Bird, chief operating officer of Midlands Management, commented saying …
MarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, announced that MarketScout subsidiary, Monster Insurance, has entered into an agreement with OneBeacon Insurance Co. over renewal rights to OneBeacon’s energy book of business. “Monster Insurance will offer …
Beverly, Mass.-based Electric Insurance Co. has entered into an agreement for renewal rights to preferred personal lines business of Millers First Insurance Co. and Millers Classified Insurance Co. (collectively “Millers First”) in the Midwest. The transaction allows Electric Insurance to …
A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating to ‘A-‘ (Excellent) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “a-” from “a” of UK-based Brit Insurance Limited (BIL), and has placed the ratings …
Eight out of 160 years of history may not seem like a big deal but for Hanover Insurance Group, founded in 1852, the last eight years have seen a series of big deals. Eight years ago in 2004, the $2.4 …
