specialty insurance News

Hanover Insurance to Sell Specialty Unit Chaucer to China Re for $950 Million

The Hanover Insurance Group has agreed t o sell Chaucer, its Lloyd’s-focused international specialty business, to China Reinsurance Group Corp. for total proceeds of $950 million. The Hanover had indicated in March it was considering selling Chaucer. The insurer said …

Vindati Platform Looks to ‘Delight’ Brokers Serving Small-Medium Businesses

There will soon be a new specialty insurance site that promises to quicken and simplify transactions for U.S. insurance brokers who are serving small and medium sized businesses. Vindati, a New York-based managing general agency (MGA), will be offering brokers …

Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters

Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling continues to improve, weather stations more …

Beazley Taps HCC Global’s Segovia to Lead Financial Lines on Continent

Specialist insurer Beazley has appointed Lorena Segovia to the newly created role of financial lines regional manager for continental Europe. Based in the company’s new Barcelona office, Segovia will be responsible for the development of Beazley’s specialty lines business across …

Hamilton Re Announces Management Team Appointments

Hamilton Re, the Bermuda platform of Hamilton Insurance Group, announced the following appointment and senior role changes in its management team: Minesh Shah has joined Hamilton Re in the newly created role of senior vice president, Actuary. Shah reports to …

Ironshore’s Pembroke Managing Agency Forms Specie Consortium at Lloyd’s

Ironshore’s Pembroke Managing Agency Ltd. announced the formation of the Specie Consortium, a new venture supported by 21 Lloyd’s Syndicates offering up to US$635 million in capacity for any one risk worldwide. The Specie Consortium is led by three syndicates: …

BHSI Opens German Office, Fills Key Roles in Northern Europe

Berkshire Hathaway Specialty Insurance Co. (BHSI) in coordination with its affiliate Berkshire Hathaway International Insurance Limited (BHIIL), announced it has opened an office in Düsseldorf, Germany, and filled key executive roles in Northern Europe. “We are laying the foundation to …

AXA & Chaucer Form Strategic Partnership to Provide African Specialty Insurance

AXA is targeting the rapidly expanding market for African specialty insurance by partnering with Chaucer, a Lloyd’s specialty insurance group. The new venture, called “AXA Africa Specialty Risks,” will be dedicated to covering specialty insurance lines in Africa, with a …

Watford Re Forms E&S Insurer Watford Specialty, Partnering with Arch

Watford Re Ltd. has formed a new excess and surplus lines insurer called Watford Specialty Insurance Co. (WSIC), based in Morristown, N.J. WSIC’s lines of business “will be similar to what we’ve been targeting on the reinsurance side, i.e., casualty …

Update: Lloyd’s Underwriter Marketform Sells UK Med Mal Businesses to Beazley

Specialist Lloyd’s underwriter Marketform announced it has sold its UK Open Market Medical Malpractice and UK / International Delegated Authority Insurance businesses to Beazley. The team being transferred is led by Alex Wakeley, a Marketform veteran of more than 20 …