The Ticker

Hires Vineet Bansal as chief information and technology officer. Bansal most recently held the same position at Apax Partners’ portfolio company Oncourse Home Solutions, following stints at Intact Specialty Insurance, IptiQ, and Fidelity Investments.

To acquire Palo Alto, Calif.-based NEXT Insurance for $2.6 billion. The deal is scheduled to close in the third quarter of 2025, pending regulatory authorization, after which NEXT will be folded into ERGO, Munich Re’s leading insurance business. Established in 2016, NEXT specializes in property and casualty insurance for small business owners.

Appoints longtime executive Simon Wilson as CEO of Markel Insurance, encompassing the company’s specialty, international, and global reinsurance underwriting operations. Wilson has worked at Markel since 2010, most recently as president of Markel International. He previously did a stint at Lloyd’s. The president of Markel’s insurance branch, Jeremy Noble, has exited the company. >> Selects Erik Johnson, previously a consultant for the company, for the new role of head of technical underwriting and oversight. Johnson will oversee the International Technical Underwriting and Wordings teams.

Announces that President and CEO Timothy Sweeney has been elected chairman of the company’s board of directors, effective April 9. He succeeds David Long, who is retiring after 12 years as chairman during a 40-year tenure at Liberty Mutual that included a decade as CEO.

Hires Chris Anderson as chief financial officer and treasurer. Anderson previously was managing principal of growth strategies for Baker Tilly US.

Rolls out Climate Consulting service to support private-sector assessment and mitigation of risks connected to climate change. The service analyzes hazards reflecting three climate scenarios leading up to 2100. It encompasses a desktop assessment that looks at topography, regional climate, existing natural risks, and possible future climate exposures; an on-site inspection of how potential climate risks could affect business infrastructure, logistics, facilities, and processes; and a risk advisory report offering mitigation steps for a specific location.

Selects longtime executive Dick Lavey for the new role of chief operating officer. Lavey has worked at The Hanover since 2004 in roles including chief marketing officer, chief growth innovation officer, and president of personal lines.

Begins offering insurance for renewable energy operations in Europe, the Middle East, and Africa. The company established FM Renewable Energy in 2024.

Sells its Medicare Shared Savings Program business to Wellvana in all-stock deal. The companies did not disclose the terms of the transaction, which provides CVS Health with a “strategic minority investment” in Wellvana.

Merges Lower Middle Market and Digital Small Business divisions into a single North America Small & Lower Midmarket operation. The division is led by newly appointed Division President, Small & Lower Midmarket, Rob Poliseno, a 17-year Chubb veteran. Jason Ranucci is the division’s chief operating officer after most recently serving as head of North America Lower Middle Market.