Casualty

FTI Consulting Acquires Madison Consulting Group

Retrieved on: 
Monday, March 4, 2024
FTI Consulting, Senior, Weather, Artificial intelligence, FTI, Forensic science, Data collection, Growth, FCN, ESG, Risk, Casualty, Policy, Insurance, Executive officer, American Academy

WASHINGTON, March 04, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that it has acquired Madison Consulting Group, an actuarial consulting firm with 25 billable professionals and offices in Madison, Ga., and Newtown Square, Pa. The addition of Madison Consulting Group expands the firm’s property and casualty actuarial and compliance offerings within the Global Insurance Services practice in the Forensic and Litigation Consulting segment. Terms of the transaction were not disclosed.

Key Points: 
  • WASHINGTON, March 04, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that it has acquired Madison Consulting Group, an actuarial consulting firm with 25 billable professionals and offices in Madison, Ga., and Newtown Square, Pa.
  • The addition of Madison Consulting Group expands the firm’s property and casualty actuarial and compliance offerings within the Global Insurance Services practice in the Forensic and Litigation Consulting segment.
  • As part of the transaction, Madison Consulting Group President Mark Crawshaw joins FTI Consulting as a Senior Managing Director, and Tina Knight, Leslie Marlo and John Gleba join as Managing Directors.
  • The services they provide complement our existing actuarial capabilities and greatly add to our ability to serve property and casualty insurers.”
    Dr. Crawshaw began his actuarial career in 1984 and joined Madison Consulting Group in 1988.

Cincinnati Financial Corporation Announces Executive Leadership Transition, Expands Board to 14, Appoints Two New Directors

Retrieved on: 
Friday, January 26, 2024
Boston Consulting Group, Cincinnati Financial, CSU, Associate, Casualty, CINF, Insurance, Casualty Actuarial Society, Spray, Intelligence, American Academy, Society of Actuaries, Annual general meeting, Marketing, Data science, Growth, Management

"Steve is the ideal candidate to lead the company forward," commented Steve Johnston, chairman and chief executive officer.

Key Points: 
  • "Steve is the ideal candidate to lead the company forward," commented Steve Johnston, chairman and chief executive officer.
  • Additionally, Mr. Wu was appointed to the audit committee and Mr. Spray to the executive committee of the board, effective immediately.
  • Spray, age 57, serves as president of Cincinnati Financial Corporation and its U.S.-based subsidiaries.
  • Johnston noted, "Our shareholders benefit from our highly engaged board of directors who bring their wide range of experiences and skills.

Zurich North America names Ann Chai Chief Risk Officer

Retrieved on: 
Thursday, January 18, 2024
Risk management, Executive Committee, Casualty, Management

SCHAUMBURG, Ill., Jan. 18, 2024 /PRNewswire/ -- Zurich North America has appointed Ann Chai as Chief Risk Officer, effective January 16.

Key Points: 
  • SCHAUMBURG, Ill., Jan. 18, 2024 /PRNewswire/ -- Zurich North America has appointed Ann Chai as Chief Risk Officer, effective January 16.
  • Chai, who was Head of Finance for U.S. Middle Market at Zurich, succeeds Colleen Zitt, who returned to Zurich North America's Finance team in the new role of Vice President of End-to-End Process Controls.
  • As Chief Risk Officer, Chai is responsible for leading all aspects of Zurich North America's Risk function.
  • She is based in Zurich North America's Schaumburg, Illinois headquarters and will report directly to Zurich Group Head of Risk Peter Giger .

Trawick International Appoints Industry Veteran Michael Stephens as Chief Actuary

Retrieved on: 
Tuesday, January 16, 2024
Associate, Casualty, Knowledge, Insurance, Society, American Academy, LATAM, Assurant, BUPA, Growth

FAIRHOPE, Ala., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Trawick International , an industry-leading international insurance company, today announced the appointment of Michael Stephens as Chief Actuary, effective immediately.

Key Points: 
  • FAIRHOPE, Ala., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Trawick International , an industry-leading international insurance company, today announced the appointment of Michael Stephens as Chief Actuary, effective immediately.
  • Michael Stephens joins Trawick International’s leadership team at a pivotal time of growth and diversification for the company.
  • Before joining Trawick International, Stephens served in a range of Actuarial roles, most recently as Chief Actuary at Best Doctors Insurance, where he was responsible for all aspects of actuarial work for the company and managed the actuarial cost center, among other responsibilities.
  • Daryl Trawick, President and CEO at Trawick International, commented, “I am delighted to have Michael Stephens join the Trawick team.

Hamilton Announces Key Leadership Transition: Peter Riihiluoma Appointed to Senior Vice President, Head of Specialty Reinsurance

Retrieved on: 
Tuesday, December 19, 2023
Professional Services, Insurance, Finance, Casualty, Multimedia, HG, SVP, Chubb, Senior

Hamilton Insurance Group, Ltd. (NYSE: HG; “Hamilton” or “the Company”) today announced the appointment of Peter Riihiluoma as Senior Vice President, Head of Specialty Reinsurance at Hamilton Re, the Company’s Bermuda-based insurance and reinsurance underwriting platform, replacing Richard Sammons who will be leaving the organization.

Key Points: 
  • Hamilton Insurance Group, Ltd. (NYSE: HG; “Hamilton” or “the Company”) today announced the appointment of Peter Riihiluoma as Senior Vice President, Head of Specialty Reinsurance at Hamilton Re, the Company’s Bermuda-based insurance and reinsurance underwriting platform, replacing Richard Sammons who will be leaving the organization.
  • Reflecting on the transition, Hamilton Re Chief Executive Officer Megan Thomas, said, “We are thrilled to announce Peter as our new SVP, Head of Specialty Reinsurance.
  • He has been an invaluable member of the Hamilton team, having built the Specialty Reinsurance practice when he joined nine years ago.”
    Riihiluoma has held underwriting, pricing and portfolio management responsibilities across a diverse portfolio of specialty reinsurance lines since joining Hamilton in 2019 as Vice President, Specialty Reinsurance.
  • Prior to Hamilton, he was with Chubb for nine years, most recently as Vice President, Ceded Reinsurance in Minneapolis, Minnesota.

Vanbridge and GreensLedge Announce Joint Venture and Launch of Alternative Letter of Credit (ALOC) Facility

Retrieved on: 
Monday, December 4, 2023
Other Professional Services, Professional Services, Insurance, Finance, Risk, Casualty, LOC, NAIC, ALOC, CPS, Facility

Convergence Point Solutions has developed a groundbreaking alternative to satisfy these traditional collateral requirements through its ALOC Facility, which creates off-balance sheet credit capacity outside the traditional banking system.

Key Points: 
  • Convergence Point Solutions has developed a groundbreaking alternative to satisfy these traditional collateral requirements through its ALOC Facility, which creates off-balance sheet credit capacity outside the traditional banking system.
  • This replaces and releases their existing collateral dollar for dollar and restores their credit capacity.
  • What makes the ALOC Facility unique is how Convergence Point Solutions manages the risk in the background.
  • The Facility has launched, and companies will be able to join on a monthly basis.

AM Best to Join IFRS 17-Related Panel at Actuarial Society of Hong Kong Appointed Actuary Symposium

Retrieved on: 
Tuesday, November 21, 2023
Data Analytics, Professional Services, Insurance, Finance, Casualty Actuarial Society, Casualty, News, ALL, Analytics, Life insurance, Hong Kong

AM Best Senior Director of Analytics Christine Lee will join a panel discussion on IFRS 17 and its impact on insurance companies at the Actuarial Society of Hong Kong’s Appointed Actuary Symposium on 30 November 2023 in Hong Kong.

Key Points: 
  • AM Best Senior Director of Analytics Christine Lee will join a panel discussion on IFRS 17 and its impact on insurance companies at the Actuarial Society of Hong Kong’s Appointed Actuary Symposium on 30 November 2023 in Hong Kong.
  • Topics will include how insurers are approaching the new accounting standard and how IFRS 17 impacts AM Best’s rating assessments on insurance companies.
  • She also is a Fellow of the Actuarial Society of Hong Kong and the Casualty Actuarial Society.
  • For more information about the Actuarial Society of Hong Kong, please visit www.actuaries.org.hk .

CCC Intelligent Solutions Holdings Inc. Announces Third Quarter 2023 Financial Results

Retrieved on: 
Monday, November 6, 2023
Technology, Mobile, Wireless, Finance, Banking, Professional Services, Software, Networks, IOT (Internet of Things), Artificial Intelligence, P&C, CCC, EBITDA, Map, GAAP, Artificial intelligence, Growth, Total, Software as a service, Cryptocurrency, Video game, Casualty

CCC Intelligent Solutions Holdings Inc. (“CCC” or the “Company”) (NASDAQ: CCCS), a leading SaaS platform for the P&C insurance economy, today announced its financial results for the three months ended September 30, 2023.

Key Points: 
  • CCC Intelligent Solutions Holdings Inc. (“CCC” or the “Company”) (NASDAQ: CCCS), a leading SaaS platform for the P&C insurance economy, today announced its financial results for the three months ended September 30, 2023.
  • “CCC delivered strong third quarter results, highlighted by 11% year-over-year revenue growth, 19% year-over-year adjusted EBITDA growth, and an adjusted EBITDA margin of 42%.
  • GAAP operating income was $16.6 million for the third quarter of 2023, compared with GAAP operating income of $17.1 million for the third quarter of 2022.
  • Adjusted operating income was $82.7 million for the third quarter of 2023, compared with adjusted operating income of $71.1 million for the third quarter of 2022.

RLI Names Phil Brodeur as Vice President, Risk Services

Retrieved on: 
Wednesday, November 1, 2023
Insurance, Professional Services, RLI, Brodeur, Bradley University, Risk management, NYSE, Partnership, Assistant, Casualty, RLI Corp.

RLI Corp. (NYSE: RLI) -- RLI Corp. announced today that Phil Brodeur has been promoted to Vice President, Risk Services.

Key Points: 
  • RLI Corp. (NYSE: RLI) -- RLI Corp. announced today that Phil Brodeur has been promoted to Vice President, Risk Services.
  • In his new role, Brodeur will have executive leadership and oversight responsibility for RLI’s pricing, reserving, risk management, reinsurance and due diligence functions.
  • He replaces Chris Randall, who will be retiring in February 2024, after 22 years of dedicated service to RLI.
  • Brodeur joined RLI in 2007 as an intern and served in various actuarial roles with increasing responsibility before being promoted to Assistant Vice President, Risk Services in 2016.

Markel builds local Casualty and Professional and Financial Risk teams with senior hires in Australia

Retrieved on: 
Tuesday, October 31, 2023
Farag, Insurance, MKL, Financial risk, NYSE, Assistant, PFR, Axis & Allies: World War I 1914, Booysen, Markel Corporation, Head, Indemnity, Casualty

Farag joins Markel from Swiss Re Corporate Solutions, where he led a highly-regarded team of underwriters as Casualty Portfolio Leader for Australia and New Zealand.

Key Points: 
  • Farag joins Markel from Swiss Re Corporate Solutions, where he led a highly-regarded team of underwriters as Casualty Portfolio Leader for Australia and New Zealand.
  • Beazleigh joins Markel from Allied World, where he was Senior Vice President and Underwriting Head, Asia Pacific Professional Lines Division.
  • Markel has also appointed Arné Booysen as Senior Underwriter, Professional Indemnity.
  • The offering will initially include Casualty, Professional Indemnity and Directors & Officers products, with other lines to follow as the organisation continues to build its local presence.