AXA XL completes an alternative capital reinsurance transaction with Texas MGA Bluefire

AXA XL | July 07, 2020

Bluefire Insurance, a Texas-based managing general agency, and Bermuda-based AXA XL Reinsurance, have announced the completion of an alternative capital reinsurance transaction in which Bluefire will assume risk from its personal auto portfolio through a collateralized reinsurance agreement with AXA XL.
AXA XL and Bluefire have been partnering since 2014. The partnership was strengthened last year when Buefire consolidated its carrier assortment and moved its reinsurance buying to a portfolio basis. The latest transaction represents Bluefire’s first risk-taking position on its business, and the first personal auto alternative capital transaction that AXA XL has completed in Bermuda.

Spotlight

What could this church do with an extra $150,000? Their mission is being affected negatively. The sad part is that most people and companies don't know how to fight back. This is the reason we work so hard, to help those that don't understand how to help themselves when negotiating with the insurance company. When churches have to pay for a new roof instead of the insurance kicking in to help defray the costs due to legitimate storm damage people in the the(ir) community lose. That's sad.

Spotlight

What could this church do with an extra $150,000? Their mission is being affected negatively. The sad part is that most people and companies don't know how to fight back. This is the reason we work so hard, to help those that don't understand how to help themselves when negotiating with the insurance company. When churches have to pay for a new roof instead of the insurance kicking in to help defray the costs due to legitimate storm damage people in the the(ir) community lose. That's sad.

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Arch Insurance Announces Streamlined Experience for Pricing and Purchase of Business Travel Accident Insurance

Arch Insurance | February 15, 2021

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CORE INSURANCE

AGIA joins the DOXA Insurance Holdings family of companies

DOXA INSURANCE | October 07, 2021

AGIA, Inc. and its sister company Worldwide Rescue and Security, Inc. (collectively AGIA) are pleased to announce their respective acquisitions by DOXA Insurance Holdings, LLC (DOXA). AGIA will continue operations under the leadership of CEO Chris Burke and team and will retain the AGIA and Worldwide Rescue and Security names. AGIA is one of the industry's few remaining affinity focused program managers of its size, scale, and brand value. For more than 65 years, the company has maintained a national reputation for delivering creative and effective affinity products, marketing excellence, and providing a superior level of service to its marquee client roster, which includes some of the largest and most iconic associations, affinity groups, and organizations in the country. Our senior leadership, board of directors, and ownership considered a variety of strategic plans to power AGIA's continued growth and ultimately decided that it was time to make AGIA a part of something bigger, with more growth opportunities and an investment appetite that would also include funding targeted acquisitions,Taken together, DOXA's mission, vision, and corporate cultures were a perfect fit for us. - Chris Burke, President and CEO of AGIA. DOXA is a privately held company whose mission is to build a diversified underwriting and distribution platform that delivers value for clients, customers, carriers, and investors via thoughtful acquisitions and organic growth. AGIA represents for DOXA an entry point of scale, highly specialized expertise, and intellectual capital in the affinity space; it will become the platform upon which DOXA will build its business and growth in the affinity and program management sector. I'm excited to welcome AGIA to the DOXA family of companies, We share a vision to become the choice builder and provider of highly specialized niche programs and products; and we look forward to helping AGIA achieve the next-level growth they so strongly desire. - Matt Sackett, DOXA's CEO. Dowling Hales, LLC advised AGIA, Inc.; the terms of the transaction were not disclosed. ABOUT DOXA INSURANCE: DOXA INSURANCE HOLDINGS is a Midwest-domiciled holding company that acquires specialty niche-focused insurance distribution companies such as Managing General Agencies, Wholesale Brokers, and Program Administrators. DOXA focuses on assisting proprietors through a strategic, reengineered approach to succession planning and organizational sustainability. DOXA's founders are experienced insurance executives with credentials in the niche and specialty insurance market. ABOUT AGIA: For more than 65 years, AGIA has served as the insurance and member benefits marketing and administration partner to some of the largest and most iconic associations and organizations in the country. Working closely with discipline, science, and creativity, we craft affinity benefit programs that help members protect what they value most.

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Zurich Resilience Solutions adds DEI service for customers

Zurich | January 07, 2022

Zurich Resilience Solutions ("ZRS") in North America today announced it is launching a groundbreaking offering called the Workplace Diversity, Equity and Inclusion ("DEI") Service in collaboration with Inclusion Score, a leading organization that advised on a new global diversity and inclusion standard issued by the International Organization for Standardization (ISO) in May 2021. Developed at the request of customers and brokers, Zurich's service will help businesses strategically assess DEI in their organization and work toward the ISO standard and their unique DEI goals. With today's announcement, Zurich becomes one of the first insurance providers to offer a DEI assessment and consulting service. Using the new ISO standard as a benchmark, ZRS will work with customers to incorporate DEI into every layer of their organizations, including in governance, human resources, product delivery and supply chain. The collaboration with Inclusion Score uniquely positions ZRS to help companies take meaningful, measurable action to enhance equity, fairness and accessibility in their organizations. "Insufficient attention to diversity and inclusion has become a business risk that can have a direct impact both on an organization's financial performance and its workforce, Recoveries in discrimination lawsuits are at all-time highs, and shareholder derivative lawsuits based on D&I are growing. Corporations need guidance when it comes to assessing and enhancing their DEI practices and policies, training their teams to address concerns and insuring themselves from business risks." -Thomas Fioretti, Head of Zurich Resilience Solutions in North America. Zurich's DEI service is designed to be customizable to a wide range of industries and organizations of all sizes, helping them comply with the new global standard 30415 from the ISO and providing guidance on D&I principles, practices and methods to enable and support equity, fairness and accessibility for people of all backgrounds in the workplace. ZRS' program features a multi-tiered approach aimed at ensuring holistic analysis and long-term success. It includes: Assessment and reporting: Measuring where organizations are succeeding in DEI as well as falling short, ZRS will offer customers a Capability Maturity Model Integration Score that assesses their organization's DEI maturity along with an improvement roadmap focused on critical areas of need in their business. Consulting: Once the roadmap is set, ZRS Risk Engineers will work with customers to customize recommendations for their unique business challenges and provide ongoing consultation to ensure measures are implemented in accordance with benchmarks. Services and training: With the infrastructure in place, ZRS will assist customers in communicating DEI principles throughout all levels of the organization and follow up with appropriate training to ensure objectives are understood and put into action. Taking Zurich's Risk Engineering services to the next level, Zurich Insurance Group created ZRS last year as a global business unit to enable the expansion of holistic, innovative solutions in a rapidly changing risk landscape. ZRS provides specialized insights and tools above and beyond insurance to help businesses address and build resilience to evolving risks. "Businesses of all sizes are increasingly being asked not only about their DEI beliefs but also to demonstrate their practices and progress as a prerequisite for winning new and renewal business from customers, for securing insurance protection and for recruiting and retaining top talent, Our new solution will help companies fortify and measure their DEI practices and integrate the principles of diversity, equity and inclusion through their entire organization." -Julia Oltmanns, Director of DEI Services for Zurich Resilience Solutions. ZRS' relationship with Inclusion Score will give customers access to some of the world's leading experts on diversity, equity and inclusion and increase the scope of solutions ZRS is able to provide. About Zurich Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With approximately 55,000 employees, it provides a wide range of property, casualty and life insurance products and services in more than 215 countries and territories. Zurich's customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX.

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