Around the P&C insurance industry: January 4, 2023
Insurance industry news from vipHomeLink, RIMS, Ryan Specialty and more.
vipHomeLink announced it has partnered with Guardian, a division of Elexa Consumer Products, Inc that provides leak detection and water shut-off devices for residential and commercial consumers, as well as Cove, a provider of DIY home security systems.
Assurex Global has experienced rapid growth since January 2022, welcoming eight new [artner firms to the privately-held, commercial insurance, risk management and employee benefits brokerage organization.
RIMS announced that Jennifer Santiago will lead the Society as president for the 2023 term, effective January 1. Ms. Santiago is the Director, Risk Management & Safety at Wakefern Food Corp., the largest retailer-owned cooperative in the United States with over $18B in revenues and 51 member companies that independently own and operate more than 360 retail supermarkets.
Ryan Specialty acquired certain assets of Griffin Underwriting Services, a binding authority specialist and wholesale insurance broker headquartered in Bellevue, WA. Previous announcement dated December 11, 2022.
Fidelis Insurance Holdings Limited completed a transaction, creating a new managing general underwriter, separate from FIHL and the existing insurance companies. Originally announced in July 2022, the transaction became effective on January 3, 2023. Both FIHL and Fidelis MGU have received approvals or non-objections from the BMA in Bermuda, the FCA and PRA in the U.K., the CBI in Ireland and the FSMA in Belgium.
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