Around the P&C insurance industry: December 20, 2023
Insurance industry news from Ryan Specialty, Safety National, TuMeke and more.
Ryan Specialty announced the formation of its international financial lines managing general underwriter, Ryan Financial Lines. This MGU is being created by unifying the operations of EmergIn Risk, led by Jamie Bouloux; StartPoint Executive Risks, led by Mark Peeters and Jason Lowney; Ryan Specialty Nordics, led by Sverker Edstrom; Capital Bay, led by Pascal Alvarez; and the professional liability portfolios historically housed within Ryan Specialty National Programs. All of these MGUs and programs are currently a part of Ryan Specialty Underwriting Managers, the underwriting management specialty within Ryan Specialty. The formation of Ryan Financial Lines, and the bringing together of all the above-listed entities, will roll through the first half of 2024 as the alignment of operations and capital is completed.
Safety National awarded the 2023 Safety First Grant to three policyholders for their creative risk control solutions.
Bridge Specialty Group announced Bridge Specialty Personal Lines, an exclusive team dedicated to personal lines insurance. The formation of Bridge Specialty Personal Lines follows the February 2021 creation of Bridge Specialty Group, which gathered more than 25 wholesale insurance brands in more than 50 locations throughout the U.S. and Europe.
Swiss Re acquired Fathom, a leading provider of water risk intelligence and flood models, based in Bristol, U.K. Through this transaction, Swiss Re’s Reinsurance Solutions division gains valuable expertise and a robust set of products, complementing its own data and risk capabilities in the field of flood perils – a major driver for constantly rising global losses from natural catastrophes.
Spot Pet Insurance partnered with AAA, one of North America’s largest and most trusted membership organizations. This strategic collaboration aims to offer AAA members unparalleled access to comprehensive and affordable pet insurance coverage for their furry companions.
TuMeke raised $10 million in a Series A funding round led by Intel Capital to expand and scale the TuMeke team of engineers, ergonomists and academics.
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