Around the P&C insurance industry: June 1, 2022
News from Allianz, NFP, Duck Creek Technologies and more.
Allianz became the majority shareholder in Jubilee General Insurance Company of Tanzania Limited. This transaction consists of Allianz acquiring 51% stake ordinary shares from Jubilee Holdings Limited and AKFED combined. JHL will retain a 15% stake and the 6 minority shareholders will maintain their total of 34% shares in the company.
NFP’s Financial Institutions Group selected TigerRisk Partners LLC to develop a line slip to transact business with Lloyd’s of London. FIG specializes in the advisory and placement of financial lines and general P&C for financial institutions in the commercial insurance markets.
NFP sponsored Texas Empowerment Academy. NFP’s $60,000 investment will help advance TxEA’s mission – to provide students with a sound education in a nurturing and stable environment conducive to learning and academic excellence – and help fund the campus expansion as TxEA has outgrown its two primary campuses in East Austin.
NFP acquired financial advisory firm, Simon Shirley Advisors Limited. The transaction closed effective May 1, 2022.
The Hanover Insurance Group appointed The Liberty Company Insurance Brokers to President’s Club, an elite group of independent insurance agencies from across the country. The Hanover’s President’s Club agencies are recognized for delivering outstanding value to their customers through their insurance expertise and responsive service.
Provaznik Insurance Agency joined Valley Insurance Agency Alliance, a cohesive family of nearly 150 independent insurance agencies in Missouri and Illinois. Provaznik Insurance Agency was founded in 2014 by Scott Provaznik, who has 11 years of insurance industry experience. His agency specializes in personal and business insurance.
Duck Creek Technologies recognized by Celent, research and advisory firm focused on technology for financial institutions globally, in its latest publication, Celent’s Claims Systems Vendors: North American P&C Insurance 2022 Edition report. Duck Creek received the highest honor for excelling in both “Advanced Technology” based on customer feedback across technology, integration capabilities and APIs, and “Breadth of Functionality” based on customer feedback across features and functions.
WAX Insurance Services launched new online mono-line collectible insurance policies designed to protect collectors from loss, damage and theft worldwide, and underwritten by Chubb, the largest publicly-traded property and casualty insurance company.
Everest Insurance entered the Latin American market after receiving approval from the Commission for the Financial Market to operate in Chile under the name Everest Compañía de Seguros Generales Chile, S.A. Senior Vice President and Regional President of Latin America Pablo Korze will lead operations and a team of seasoned underwriters uniquely positioned to serve the growing needs of corporations across the Latin American market, with a flagship office in Santiago, Chile.
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