Insurtech Liberate raises $7mn in Eclipse-led seed roundProperty and casualty-focused software-as-a-service (SaaS) insurtech Liberate has raised $7mn in seed funding in a round that was led by venture capital firm Eclipse.
Ambac’s Xchange Benefits MGU launches Distribution ReAmbac-owned MGU Xchange Benefits has set up a protected cell company named Distribution Re, which will insure accident and health risks primarily in the form of high deductible medical stop loss plans.
AmericanAg makes two changes to executive leadership teamAmericanAg has announced two changes to its executive leadership team, with Andy Martin promoted to SVP of Farm Bureau client relations and Meredith Williams named SVP of reinsurance strategy and placement.
FTC proposes abolition of non-compete clauses to allow easier employment movesThe US Federal Trade Commission has proposed a rule to prohibit non-compete clauses in employment contracts in a move which could have significant ramifications for brokers.
B&R promotes Bading to lead national property practiceWholesale broker Brown & Riding has announced the appointment of Chris Bading as national property practice leader.
Core Specialty launches excess liability program with SynchronoSureCore Specialty Insurance Holdings has launched a new excess liability program that provides up to $5mn in coverage in conjunction with SynchronoSure.
Kin’s second reciprocal exchange rated A by DemotechDemotech has assigned a financial stability rating of A, Exceptional to the Kin Interinsurance Nexus, the second reciprocal exchange of homeowners insurtech Kin.
Aspen takes Arch’s Acker to lead US distributionAspen has appointed Nick Acker as head of US distribution, assuming responsibility for developing relationships with broking partners across the US.
USI: Construction umbrella and excess pricing stabilises as insurtechs make their presence feltGeneral construction umbrella and excess price rises have continued to stabilise while a growing number of insurtechs in the space are becoming increasingly attractive owing to the better terms they offer to clients, USI has detailed in a new report.
Lloyd’s facing “limited impact” from Winter Storm Elliott: ArgentaLloyd’s syndicates will likely see a limited impact from Winter Storm Elliott, according to Argenta Private Capital.
RLI casualty veteran Drees to retire with Hartje named successorRLI’s long serving Dennis Drees will retire in February after almost 30 years at the company with Bob Hartje set to step up and succeed him as vice president of casualty brokerage.
The Hanover hires PwC’s Lovely as chief claims officerThe Hanover has appointed David Lovely executive vice president and chief claims officer, with the executive joining from PricewaterhouseCoopers.
Barbados-based reinsurer Active Re hires SiriusPoint’s NicoliniActive Re has hired Marco Nicolini as head of global treaty business underwriting, with the executive previously serving as head of SiriusPoint’s Latin American unit.
McGowan unveils new AM Best A++ backed habitational CGL programProgram administrator platform McGowan Companies has brought to market a new commercial general liability (CGL) product backed by AM Best A++ rated capacity targeted at habitational risks such as apartment buildings and condominium associations.
Cyber start-up Trium targets $500mn in annual GWP within five yearsPelican Ventures-backed Trium Cyber expects to be producing around $500mn of annual gross premiums in five years, up from the $50mn it can write in 2023, the CEO of the new Lloyd’s start-up Josh Ladeau has told The Insurer.
Distinguished Programs teams up with Core Specialty on hotel primary offeringExpansive program administrator Distinguished Programs has partnered with Core Specialty paper to provide general liability and auto liability coverage for hotels.
MMA acquires 120-employee agency HMSMarsh McLennan Agency, the middle market subsidiary of broking giant Marsh, has acquired Hunt Valley, Maryland-based HMS Insurance Associates, an independent agency with more than 120 employees.
MS&AD completes acquisition of hybrid fronting carrier TransverseMS&AD Insurance Group Holdings has completed its $400mn-plus acquisition of hybrid fronting carrier Transverse Insurance Group in a deal which expands the Japanese giant’s access to the North American market.
CAC and Cobbs Allen undertake “transformative” mergerCAC Specialty and Cobbs Allen have brought forward a planned combination and merged their operations in a deal which the new single company said will allow the business to make “even more significant investments”, The Insurer can reveal.
Palomar renews Cali commercial quake QS at higher cession percentagePalomar Holdings has completed certain reinsurance programs covering California earthquake risk, including renewing a quota share program and securing additional earthquake excess of loss limit.