Tokio Marine HCC unit to acquire International Ag MGA

Tokio Marine HCC unit to acquire International Ag MGA

Tokio Marine HCC unit to acquire International Ag MGA

Producers Ag Insurance Group, Inc, part of the Tokio Marine HCC group of companies, has signed a purchase agreement to acquire crop managing general agent (MGA) International Ag Insurance Solutions, LLC. The transaction, which is subject to a number of closing conditions including final approvals by certain International Ag members and regulatory authorities, is expected to close by 3 April…

AmWINS’ Unicorn MGA hires haulage underwriter

AmWINS’ Unicorn MGA hires haulage underwriter

AmWINS’ Unicorn MGA hires haulage underwriter

US-based global broker AmWINS Group, Inc has appointed Perry Lyons as motor fleet underwriter in its London-based managing general agent Unicorn Underwriting. Mr Lyons joins from XL Catlin where his primary focus was underwriting haulage business, with an emphasis on risk managed programmes. Before XL Catlin, Lyons was a motor broker placing wholesale motor business into the London market. Unicorn…

Commercial drone use to soar in the US, FAA predicts

Commercial drone use to soar in the US, FAA predicts

Commercial drone use to soar in the US, FAA predicts

The US commercial, non-hobbyist drone (or Unmanned Aircraft Systems) fleet is forecast to grow from 42,000 at the end of 2016 to about 442,000 aircraft by 2021, with the possibility of as many as 1.6 million UAS in use by 2021, according to the Federal Aviation Administration. Pilots of commercial UAS vehicles are expected to increase from 20,000 at the…

James Tuplin joins XL Catlin to head CMT team in Europe

James Tuplin joins XL Catlin to head CMT team in Europe

James Tuplin joins XL Catlin to head CMT team in Europe

XL Catlin has poached James Tuplin from rival QBE to be its head of cyber and technology, media and telecoms, international. At QBE he was cyber and TMT portfolio manager, with responsibility for growing the insurer’s cyber portfolio in Europe. Based in London, Mr Tuplin will be responsible for underwriting cyber insurance, as well as professional indemnity insurance for the…

Neon launches marine and offshore construction consortium at Lloyd’s

Neon launches marine and offshore construction consortium at Lloyd’s

Neon launches marine and offshore construction consortium at Lloyd’s

Lloyd’s insurer Neon, which is part of The Great American Insurance Group, launched a new marine and offshore construction consortium. The consortium went live in February and aims to provide bespoke insurance coverage to shipyard clients. The consortium is underwritten by Mireille Dolonen and offers $70m capacity for shipyard construction and $55m for rig construction. Neon leads the consortium and…

BHSI boosts professional liability offering and hires new head

BHSI boosts professional liability offering and hires new head

BHSI boosts professional liability offering and hires new head

Berkshire Hathaway Specialty Insurance (BHSI) has launched professional liability coverage for large, complex technology-related risks and has appointed Geoffrey Kendrick as head of Professional Lines in Canada. BHSI’s first Professional Liability and Network Security & Privacy Policy is designed to address the needs of a range of enterprises, from systems integrators, to telecommunications providers, to IT staffing firms. The policy…

Lloyd’s Argenta Holdings acquired by Hannover Re

Lloyd’s Argenta Holdings acquired by Hannover Re

Lloyd’s Argenta Holdings acquired by Hannover Re

Hannover Re, the third-largest reinsurer in the world, is to acquire the UK holding company Argenta Holdings plc. Argenta owns the Argenta Syndicate Management (ASML) and Argenta Private Capital Ltd (APCL) as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121. The parties have agreed to maintain confidentiality regarding the purchase price. APCL currently supplies almost…

Munich Re eyes growth – and threats – in cyber space

Munich Re eyes growth – and threats – in cyber space

Munich Re eyes growth – and threats – in cyber space

Munich Re backpedalled a little on its corporate specialty business last year, but still wants to grow its portfolio in the longer term, especially in cyber space, according to comments made in the global reinsurer’s earnings call with analysts. Board member Torsten Jeworrek told analysts that the €4.8bn premium share from its risk solutions segment was down from €5bn. The…

WeSpecialty launches comprehensive political risk and terror solution as market tightens

WeSpecialty launches comprehensive political risk and terror solution as market tightens

WeSpecialty launches comprehensive political risk and terror solution as market tightens

WeSpecialty, the fast-growing Paris-based specialty managing general agency backed by a number of leading Lloyd’s insurers offering capacity to French and global corporate insurance buyers, has launched an innovative solution to cover political violence, terrorism and political risks. Patrick de la Morinerie – founder and chairman of WeSpecialty, former deputy CEO of AXA Corporate Solutions and chairman of the International…

Argo Pro boosts E&O product line

Argo Pro boosts E&O product line

Argo Pro boosts E&O product line

Argo Pro has launched a range of enhanced Errors & Omissions (E&O) policy forms in the US under its Argo PROtect brand. Aimed at brokers looking to expand their professional liability portfolios, the policy forms include accountants, architects and engineers, lawyers and miscellaneous. Last month Argo Pro introduced a Directors and Officers Excess Side A Difference in Conditions (DIC) PROtect…

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