E&S

Richmond National Group, Inc. Announces Completion of Follow-On Equity Capital Raise

Retrieved on: 
Montag, Mai 20, 2024
E&S, Growth, Investment, Culture

RICHMOND, Va., May 20, 2024 (GLOBE NEWSWIRE) -- Richmond National Group, Inc. and its affiliates (“Richmond National”) announced the successful closing of an oversubscribed equity capital raise.

Key Points: 
  • RICHMOND, Va., May 20, 2024 (GLOBE NEWSWIRE) -- Richmond National Group, Inc. and its affiliates (“Richmond National”) announced the successful closing of an oversubscribed equity capital raise.
  • Richmond National, a specialty excess and surplus lines insurance company focused on small and mid-sized business, raised $55 million of common equity capital from existing shareholders, including HF Capital, Bonhill Capital, WT Holdings, and employees to support continued growth in the business.
  • This brings the total common equity capital raised since its formation in 2021 to more than $155 million.
  • We are proud of the company and culture we are building together at Richmond National.”
    “We are enthusiastic about what lies ahead for Richmond National,” said Wellford Tabor, Richmond National’s Board Chair and Head of Direct Investments at HF Capital.

Trium & Wikifri Continue Successful Partnership, Launch Property Insurance

Retrieved on: 
Donnerstag, Mai 16, 2024
Software, Insurance, Internet, Consulting, Data Management, Professional Services, Technology, Security, Partnership, E&S, Paramount, Property, Documentation, Risk management

Wikifri, an insurance consulting firm and provider of the Insurance Daylight Data Solution, today announced its role in supporting Trium Cyber US Services, Inc. (Trium), a US-based Lloyd’s coverholder and underwriter, in expanding their insurance offerings to include commercial E&S property insurance.

Key Points: 
  • Wikifri, an insurance consulting firm and provider of the Insurance Daylight Data Solution, today announced its role in supporting Trium Cyber US Services, Inc. (Trium), a US-based Lloyd’s coverholder and underwriter, in expanding their insurance offerings to include commercial E&S property insurance.
  • Following the successful launch of their cyber operations in January 2023 with Wikifri’s expertise, the company is now harnessing market opportunities in the E&S property space.
  • Trium, writing on behalf of Lloyd’s Syndicate 1322, plans on replicating its success in E&S property as it did in cyber.
  • Having previously partnered with Trium, the addition of property insurance was a natural progression, executed seamlessly due to our deep understanding of their business ethos and objectives.”

Playback and Transcript Now Available for AM Best’s Webinar on Secondary Insurance Perils

Retrieved on: 
Mittwoch, Mai 15, 2024
Other Professional Services, Professional Services, Insurance, Flood, News, Wildfire, E&S, Data, Munich Re, Nature, Property insurance

Video playback and a transcript are now available for AM Best’s complimentary webinar, “From Convective Storms to Flood: The Growing Impact of Secondary Insurance Perils,” sponsored by Munich Re .

Key Points: 
  • Video playback and a transcript are now available for AM Best’s complimentary webinar, “From Convective Storms to Flood: The Growing Impact of Secondary Insurance Perils,” sponsored by Munich Re .
  • Defining Secondary Insurance Perils: Discover what constitutes secondary perils and how they differ from primary risks.
  • Identifying Secondary Perils: Explore a range of commonly encountered secondary perils.
  • Impact on Insurance Coverage: Understand how secondary perils can impact insurance coverage and claims processes.

James River Announces First Quarter 2024 Results

Retrieved on: 
Mittwoch, Mai 8, 2024
Sale, Risk management, Insurance, E&S, Excess, Reinsurance

Due to the Stock Purchase Agreement entered into in the fourth quarter of 2023 for such sale, full results for our former Casualty Reinsurance segment have been reclassified to discontinued operations for all periods.

Key Points: 
  • Due to the Stock Purchase Agreement entered into in the fourth quarter of 2023 for such sale, full results for our former Casualty Reinsurance segment have been reclassified to discontinued operations for all periods.
  • Adjusted net operating income1 of $14.8 million ($0.39 per diluted share) for the first quarter of 2024 reflected strong investment income and profitable underwriting results from continuing operations, particularly from our Excess and Surplus Lines ("E&S") segment.
  • Net investment income increased 22.8% compared to the prior year quarter, with all asset classes except private investments reporting higher income.
  • Frank D'Orazio, the Company’s Chief Executive Officer, commented on the first quarter, “James River has started the year with strong profitability and attractive returns on our capital as we continue to demonstrate our commitment to disciplined underwriting and risk management.

Brown & Brown, Inc. announces senior leadership team appointments

Retrieved on: 
Montag, April 1, 2024
Arrowhead, E&S, Insurance, Brown & Brown, Growth, Management

DAYTONA BEACH, Fla., April 01, 2024 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE:BRO) (the “Company”) has announced the appointment of David Putz and Niels Seebeck to the senior leadership team.

Key Points: 
  • DAYTONA BEACH, Fla., April 01, 2024 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE:BRO) (the “Company”) has announced the appointment of David Putz and Niels Seebeck to the senior leadership team.
  • I am excited to welcome David and Niels to our senior leadership team.
  • Before joining Brown & Brown in 2019, Putz spent nearly 25 years at Zurich Insurance North America, where he was a member of the global leadership team, overseeing alternative markets, including crop, programs, automotive and captives businesses.
  • Niels joined the team in 2015 and is responsible for the growth and oversight of numerous programs, including portfolio management, underwriting and operations.

SageSure to Acquire GeoVera MGA, Including GeoVera’s Industry-Leading Underwriting Franchise in Residential Earthquake Risk

Retrieved on: 
Dienstag, April 9, 2024
Professional Services, Residential Building & Real Estate, Insurance, Commercial Building & Real Estate, Finance, Construction & Property, Ares Management, Partnership, Wind, E&S, Willkie Farr & Gallagher, MGA, Reinsurance

Upon the transaction’s completion, SageSure will assume the underwriting operations of GeoVera MGA’s best-in-class residential earthquake franchise.

Key Points: 
  • Upon the transaction’s completion, SageSure will assume the underwriting operations of GeoVera MGA’s best-in-class residential earthquake franchise.
  • With the addition of the GeoVera MGA’s deep earthquake expertise, the transaction will further enhance SageSure’s robust catastrophe risk underwriting capabilities and accelerate its entrance into new markets, including Oregon and Washington.
  • “We are excited to enter into an agreement that solidifies SageSure as one of the leading underwriters of catastrophe-exposed property risk in the US.
  • “We are proud to partner with SageSure on this innovative transaction,” said John Forney, President and CEO of GeoVera.

TRC Companies Ranked No. 8 in Environment Analyst's Top 100 Global Environmental and Sustainability Consultancy Firms

Retrieved on: 
Mittwoch, März 27, 2024
E&S, ESG, Energy transition, TRC, Engineering

WINDSOR, Conn., March 27, 2024 /PRNewswire-PRWeb/ -- TRC Companies, Inc. (TRC), a global professional services firm providing integrated strategy, consulting, engineering and applied technologies in support of the Energy Transition, was ranked No. 8 in Environment Analyst's list of Top Environmental and Sustainability (E&S) Consulting Firms. TRC moved up 13 places on the list.

Key Points: 
  • The report identifies the world's largest environmental and sustainability firms in 2024.
  • WINDSOR, Conn., March 27, 2024 /PRNewswire-PRWeb/ -- TRC Companies, Inc. (TRC), a global professional services firm providing integrated strategy, consulting, engineering and applied technologies in support of the Energy Transition, was ranked No.
  • 8 in Environment Analyst's list of Top Environmental and Sustainability (E&S) Consulting Firms.
  • "Our ranking reflects TRC's commitment to helping our clients adapt to the challenges presented by a changing climate," said Christopher Vincze, Chairman and CEO of TRC.

Ryan Specialty Reports Fourth Quarter 2023 Results; Initiates Quarterly Dividend

Retrieved on: 
Dienstag, Februar 27, 2024
Insurance, Professional Services, Total, Compensation, E&S, Growth, GAAP, Bank statement, Travel, Pharmaceutical industry

Total revenue for the fourth quarter of 2023 was $532.9 million, an increase of 22.5% compared to $435.0 million in the prior-year period.

Key Points: 
  • Total revenue for the fourth quarter of 2023 was $532.9 million, an increase of 22.5% compared to $435.0 million in the prior-year period.
  • Total operating expenses for the fourth quarter of 2023 were $436.5 million, a 22.7% increase compared to the prior-year period.
  • Net income for the fourth quarter of 2023 increased 27.8% to $58.5 million, compared to $45.8 million in the prior-year period.
  • Adjusted EBITDAC grew 24.6% in the fourth quarter of 2023 to $158.6 million from $127.3 million in the prior-year period.

CLARA Analytics Secures Funding From Nationwide

Retrieved on: 
Mittwoch, Februar 21, 2024
Professional Services, Data Analytics, Technology, Insurance, Software, Finance, Artificial Intelligence, Natural language processing, AI, Nationwide, E&S, Growth, Commercial, Human, CLARA, Venture round, NLP, Partnership

CLARA Analytics and Nationwide are deepening their current partnership.

Key Points: 
  • CLARA Analytics and Nationwide are deepening their current partnership.
  • CLARA has received an investment from Nationwide Ventures , the investment arm of the insurance and financial services company.
  • “The Nationwide investment is a huge vote of confidence from a leading voice in the industry,” said Heather H. Wilson , CEO of CLARA Analytics.
  • “ Since partnering together in 2022 , Nationwide has seen the very substantial benefits that this technology can offer,” said George Williams, Chief Operating Officer of Commercial, E&S and Specialty at Nationwide.

PURE Programs Introduces New Solution for High Value Homes Under Construction or Renovation

Retrieved on: 
Dienstag, Februar 27, 2024
ISO, Weather, Par value, E&S, Workplace, Common, Risk, Policy, Family, Excess, PURE, Depreciation, Insurance

WHITE PLAINS, N.Y., Feb. 27, 2024 /PRNewswire/ -- PURE Programs, LLC , the managing general underwriter dedicated to providing Excess & Surplus (E&S) solutions for PURE members and other responsible, high net worth families, has introduced a new program for high value homes under construction or renovation.

Key Points: 
  • WHITE PLAINS, N.Y., Feb. 27, 2024 /PRNewswire/ -- PURE Programs, LLC , the managing general underwriter dedicated to providing Excess & Surplus (E&S) solutions for PURE members and other responsible, high net worth families, has introduced a new program for high value homes under construction or renovation.
  • "A Resilient Home Advisor will also collaborate with homeowners and builders to ensure homes are well-protected during and after construction."
  • Common challenges that this program addresses:
    Luxury high value construction and renovation projects that do not qualify for comparable coverage with an admitted insurer.
  • If a non-admitted solution is required due to the home's risk characteristics, PURE Programs will seek to create a solution.