Around the P&C insurance industry: June 13, 2018
News from The Navigators Group Inc., Coalition Against Insurance Fraud, Tokio Marine HCC and more.
The Navigators Group Inc. has completed its acquisition of Bracht, Deckers & Mackelbert NV, a specialty underwriting agency, and its affiliated insurance company, Assurances Continentales – Continentale Verzekeringen NV. As part of the transaction, Navigators also acquired Canal Re SA, a Luxembourg reinsurance company that is a wholly-owned subsidiary of ASCO.
Palm Beach County’s top elected prosecutor received the Apollo Award for distinction in combating insurance fraud. He received the award at the Coalition Against Insurance Fraud‘s midyear meeting in Orlando.
Tokio Marine HCC‘s wholly-owned subsidiary HCC International Insurance Company PLC has signed a purchase agreement with Qdos Holdings Limited and other selling shareholders to acquire Qdos Contractor of The Qdos Group. The closing of the transaction is subjected to regulatory approvals in the U.K. and Japan and is expected to occur by the fourth quarter of 2018.
Integro Group Holdings LP, an international insurance brokerage and specialty risk management firm, announced an affiliate has completed its acquisition of Hawkes Bay Holdings Ltd. Integro will now begin the process of merging its Wholesale and Retail operations with Tysers.
Big “I” Markets, the online market access system available exclusively to Big “I” members, has partnered with Coalition, a technology-enabled cyber insurance solution, to offer agents entry to the cyber and technology errors & omissions insurance markets.
European dash cam manufacturer Nextbase has announced plans to launch in the U.S. marketplace in July 2018. The company was the first dash cam manufacturer to partner with insurers in creating a “dash cam discount”, whereby consumers would have money deducted off of their insurance premium by using a Nextbase dash cam.
The winners of the third annual Efma-Accenture Innovation in Insurance Awards were announced at the annual awards ceremony. The winners included Tokio Marine and AXA, among others.