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News – Insurance Journal
Insurance Agency M&As Up 13% Thus Far in 2021: Optis
There were 553 announced insurance agency mergers and acquisitions during the first three quarters of 2021, up from 490 in 2020, According to an OPTIS Partners’ M&A report, that was the highest recorded total for this period. “Multiple factors that …
POSTED OCTOBER 19, 2021 12:15 PM |
Cyber Defense Specialist, Lodestone Security, Opens London Office
Lodestone Security, a Beazley subsidiary and leader in cyber defense and incident response in the U.S., is expanding its global reach by opening an office in London. Adam Harrison joins the group as managing director of Lodestone Security UK. The …
POSTED OCTOBER 19, 2021 10:36 AM |
People Moves: D&O MGA Tegron Names Tokio Marine’s Shergill Sr U/W; AXIS Financial Institutions Hires 3 for London Team; Aon Re’s Russell Is Casualty Treaty U/W at Atrium
D&O Insurer Tegron Names Tokio Marine’s Shergill as Senior U/W Tegron Specialty, the Beat Capital backed D&O underwriting specialist, announced the appointment of Kiran Shergill as senior underwriter. Shergill will report to Ray Pallett, CUO, and assumes her role with …
POSTED OCTOBER 19, 2021 9:17 AM |
Beazley Launches First ESG Syndicate at Lloyd’s
Specialist insurer Beazley has received in-principle approval from Lloyd’s to launch Syndicate 4321 from Jan. 1, 2022. Once fully approved, the syndicate will focus exclusively on offering additional capacity to businesses that perform well against environmental, social and governance (ESG) …
POSTED OCTOBER 19, 2021 8:35 AM |
Amazon Appeals Record $865M Fine for Violation of EU Data Protection Rules
Amazon.com Inc. appealed a record 746 million-euro ($865 million) penalty for allegedly violating the European Union’s tough data-protection rules. The appeal was filed at the Luxembourg Administrative Tribunal on Friday [Oct. 15], according to Luxembourg court spokesman Henri Eippers. The …
POSTED OCTOBER 19, 2021 8:06 AM |
Arthur J. Gallagher & Co. Buys New Zealand’s Matt Jensen Insurance Brokers
Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced the acquisition of Taupo, New Zealand-based Matt Jensen Insurance Brokers Ltd. Terms of the transaction were not disclosed. Founded in 2005, Matt Jensen Insurance Brokers provides a comprehensive range …
POSTED OCTOBER 19, 2021 7:18 AM |
Herman Named Alabama’s Insurance Fraud Bureau Director
A veteran police officer and fire investigator has been named director of the state’s Insurance Fraud Bureau and assistant state fire marshal. Bill Herman began his career at the Montgomery County Police Department, then became a deputy state fire marshal, …
POSTED OCTOBER 19, 2021 5:26 AM |
Citizens Insurance Property Inspections To Soar in Next 4 Years
As part of its effort to reduce its ballooning exposure level and trim the number of policyholders, Florida’s insurer of last resort will increase its property inspections by almost 70-fold over the next four years — with plans to spend …
POSTED OCTOBER 19, 2021 5:10 AM |
Alabama Ups Fees for Captives, Adopts New Valuation Manual
The Alabama Department of Insurance has set new fees for captive insurers and has adopted a new valuation manual. The department announced last week that starting Jan. 1, the application fee for captive insurers will climb from $200 to $240. …
POSTED OCTOBER 19, 2021 5:08 AM |
U.S. Auto Safety Agency Faces Backlog of Rules and Missed Deadlines
After their 16-year-old daughter died in a car crash, David and Wendy Mills wondered whether she would be alive if federal rules on rear seat belt warnings had been issued on time. Four years later, with no rule and traffic …
POSTED OCTOBER 19, 2021 5:00 AM |
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