Around the P&C insurance industry: March 20, 2024
Insurance industry news from Nordic Capital, Chubb, USQRisk and more featured in weekly update.
J. H. Blades & Co., LLC and MGA within Starwind Specialty Insurance, has entered into a new master underwriting agreement for upstream oil and gas liability risks with MS Amlin, a Lloyd’s global (re)insurer.
Nordic Capital joined Great Hill Partners, a private equity firm that invests in high-growth and disruptive companies, as an investor in One Inc, a digital payments platform specializing in modernizing the insurance industry in North America. Great Hill Partners invested in One Inc in 2020 and will retain an equal stake in Nordic Capital alongside a significant continued investment from the company’s current management team.
American Property Casualty Insurance Association (APCIA) is the primary national trade association for home, auto and business insurers. APCIA promoted and protects the viability of private competition for the benefit of consumers and insurers, with a legacy dating back 150 years. APCIA members represent all sizes, structures and regions—protecting families, communities and businesses in the U.S. and across the globe.
Neural Earth announced the successful close of its oversubscribed $1.4 million pre-seed funding round. This innovative technology company is set to transform the insurance industry by leveraging both open and proprietary data sources, including advanced geospatial imagery analytics. Working with trusted partners in the insurance space, Neural Earth is providing the tools to navigate an ever complex risk landscape, enhancing operational efficiency, improving risk identification accuracy and reducing insurance fraud.
Chubb launched a global transactional risk platform to provide transactional risk liability insurance products across international markets. Chubb has appointed Josh Cowen as senior vice president of international transactional risk to lead this initiative from London. Cowen, a seasoned mergers and acquisitions risk insurance professional, will be responsible for leading a team of underwriters focused on warranty and indemnity, tax and contingent liability products in jurisdictions outside of North America.
USQRisk, LLC, the international managing general agent specializing in alternative risk transfer solutions, and Ascend Analytics, LLC, an industry-leading energy software and consulting firm, launched an innovative solution to provide more efficient financing for utility-scale energy storage projects.
avô Transportation and Language Solutions unveiled a dynamic new brand identity, marking a significant milestone in its evolution. The rebranding signals the company’s unwavering commitment to innovation by harnessing technology to redefine transportation and translation services within the world of workers’ compensation.
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