Agrees to buy SafeAuto for $270 million cash plus $30 million in pre-close dividends of some non-insurance assets. Acquisition will be transacted through Allstate subsidiary National General into whose direct-to-consumer non-standard auto segment SafeAuto will be rolled. Close expected in Q3.
Allianz Global Corporate & Specialty (agcs.com) hires Carol Laufer as regional head of liability for North America, succeeding Dieter Hautzer, who retired. She joins from Zurich North America. AGCS has also hired Michael Pignataro as head of energy and construction in North America, effective Aug. 1. He replaces Tim Cook, who will help transition duties through Sept. 30.
Marina Barg hired as chief claims officer in North America. She joins from W.R. Berkley, where she headed claims for corporate segment. >> Partners with Tierra Underwriting to provide credit insurance for green project finance transactions that focus on carbon abatement or other environmental goals. Tierra will operate as an MGA using Ascot underwriting capacity. >> Partners with Highland Insurance Solutions to offer builders risk for new-development construction in the United States. Tie-up gives Highland access to additional capacity for underwriting frame and concrete projects on all-risks policies. >> Ethos Specialty, Ascot’s wholly owned MGU, hires Brendan Walsh as EVP and head of property and programs. He joins from Axis Insurance. Ethos also hires Jeffrey Canfield as EVP for casualty and product innovation. He joins from Argo Group.
Rolls out energy and technical lines casualty product in United Kingdom supported by dedicated team led by Oliver Brown.
Opens Belt and Road Consortium at Lloyd’s. Will initially underwrite political violence risks in collaboration with parent China Re for companies working on China’s Belt and Road Initiative.
Rolls out Benchmarq Package for lower middle commercial market risks. Offers scalable property and GL so coverage can grow with company in terms of limits and endorsements.
Names Mark Srygley and David Kaplan as co-heads of new initiative to build out captive offerings for hard-to-insure risks in both accident and health and property/casualty.
Hires Vanessa Young as head of M&A insurance globally. She moves from Willis Towers Watson, where she headed transaction risks in London.
Offers HSB Precision Ag, a suite of coverages for smart farm equipment, including equipment breakdown and cyber insurance.
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