Brit boosts property reinsurance team

Insurance Business America | April 01, 2019

Today (April 01) is Kristina Maffit’s first day as vice president of property reinsurance at Brit Global Specialty Bermuda (BGSB). The appointment will see Maffit not only manage BGSB’s property reinsurance underwriting team in Bermuda but also support the broader development of Brit’s global property reinsurance offering. That means she will be in close coordination with the underwriting and exposure management units in Bermuda, the US, and London. Reporting to Brit Americas president Nick Davies, Maffit will also focus on writing US catastrophe business on behalf of Lloyd’s syndicates 2987 and 2988. The new vice president’s experience includes six years as a portfolio management associate at alternative investment manager Elementum where she specialised in collateralised natural catastrophe reinsurance investments. She also spent time at Validus-owned AlphaCat and Validus Reinsurance.

Spotlight

Life insurance is part of estate planning. If you have loved ones who depend upon you financially, you need life insurance. A life insurance policy allows your beneficiaries to cover their living expenses after your death. Depending on the size of the benefit you want to provide and the amount you can afford to pay on premiums, you can choose from several different types of life insurance policies.

Spotlight

Life insurance is part of estate planning. If you have loved ones who depend upon you financially, you need life insurance. A life insurance policy allows your beneficiaries to cover their living expenses after your death. Depending on the size of the benefit you want to provide and the amount you can afford to pay on premiums, you can choose from several different types of life insurance policies.

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Riskonnect Named in Business Insurance’s Best Places to Work in Insurance Program for Second Consecutive Year

Riskonnect | September 17, 2022

Riskonnect, the leader in integrated risk management (IRM) solutions, today announced it has been named in Business Insurance’s annual Best Places to Work in Insurance program, which recognizes employers for their outstanding performance in establishing workplaces where employees can thrive, enjoy their work, and help their companies grow. “It’s a huge honor to be recognized once again as one of the Best Places to Work in Insurance. The accolade is a testament to our team’s dedication to creating an incredible and empowering work environment at Riskonnect, Every day we aim to foster a positive culture where our team is inspired, encouraged, and poised to deliver the best service to customers and help them manage risk under one roof.” -Kevin Crow, chief human resources officer at Riskonnect Best Places to Work in Insurance is an annual program that highlights the agents, brokers, insurance companies, and other providers with the highest levels of employee engagement and satisfaction. The leading employers in the insurance industry are identified through a two-part assessment of each company. The first part is a questionnaire completed by the employer about company policies, practices, and demographics. The second part is a confidential employee survey on engagement and satisfaction. This achievement follows several others for Riskonnect, including being named one of the UK’s Best Workplaces™ for Women and certified as a Great Place to Work® in the United Kingdom by Great Place to Work®. The Company was also named a Best and Brightest Company to Work For® by the U.S. National Association for Business Resources in Atlanta and Chicago for the fourth consecutive year. About Riskonnect Riskonnect is the leading integrated risk management software solution provider. Our technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. More than 2,000 customers across six continents use our unique risk-correlation technology to gain previously unattainable insights that deliver better business outcomes. Riskonnect has more than 800 risk management experts in the Americas, Europe, and Asia.

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CORE INSURANCE,INSURANCE TECHNOLOGY

Hildene Capital Launches $1 Billion Reinsurer

Hildene Capital Management | November 25, 2022

Hildene Capital Management, LLC (“Hildene”), a $12 billion credit-focused asset manager, today announced the formation of Ludlow Re SPC, Ltd. (“Ludlow Re”), a Cayman Islands-based, Class B(iii) insurance company. Ludlow Re will offer reinsurance to the global insurance market and, as part of its inaugural transaction, will reinsure approximately $1 billion of fixed index annuity reserves through a quota share agreement entered into with a U.S.-based life insurance carrier. “Given its ability to provide long-term, flexible capital, Ludlow Re optimizes Hildene’s robust asset management capabilities, helping us as we seek to enhance returns for our investors, Since Hildene’s inception in 2008, we have taken a prudent approach to managing the size and scale of our assets and will continue to execute on this approach with Ludlow Re — opportunistically adding to our portfolio only when we believe we can confidently invest in assets that produce attractive returns for our clients.” -Brett Jefferson, Founder and Co-Chief Investment Officer of Hildene. Hildene’s structured credit assets, particularly TruPS CDOs, align well with the duration and liquidity profile of life and annuity insurance liabilities, We believe insurers and asset managers can benefit from a symbiotic relationship — money managers receive access to insurers’ expansive capital base while insurers receive access to sophisticated investment opportunities they may not have otherwise,added Dushyant Mehra, Co-Chief Investment Officer of Hildene. Ludlow Re received its B(iii) insurance license from the Cayman Islands Monetary Authority in September 2022. About Hildene Capital Management Founded in 2008, Hildene Capital Management, LLC is a diversified institutional asset manager specializing in asset-based and credit opportunities. Hildene Co-CIOs Brett Jefferson and Dushyant Mehra are backed by a senior investment team with a long and established track record of investing across various credit and distressed cycles, leveraging their expertise in managing complex assets. Today, Hildene manages over $12 billion for a broad range of clients across its flagship private funds, tailored managed accounts and securitized asset structures.

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World Insurance Associates Acquires Cotten Coverage Insurance Agency and Expands Long Island Presence

World Insurance Associates LLC | September 28, 2022

World Insurance Associates LLC (WIA), a Top 50 Insurance Brokerage, announced today that it acquired Cotten Coverage Insurance Agency (“Cotten Coverage”) of Farmingville, NY on September 1, 2022. Terms of the transaction were not disclosed. Cotten Coverage provides property & casualty personal lines products and services, as well as commercial lines products and services to customers on Long Island. The agency was founded in 1991 by Bob Cotten and his wife Karen. Bob started in the business as an associate actuary with Allstate on Long Island in 1984. “We know our clients and we know insurance, so our clients have the peace of mind that comes with knowing their insurance agency can help them regardless of how big, small, unique, or specific their insurance needs are, We take great pride in the quality of service we provide for our customers, and we look forward to continuing to do so as part of WIA.” -Bob Cotten, Owner, Cotten Coverage insurance Agency On behalf of everyone at WIA, I’d like to welcome Cotten Coverage to the World family, Cotten Coverage is a successful agency—voted “Best Insurance Agency on Long Island" for 10 years—and I know they will continue providing their clients the excellent service they have come to expect,says Rich Eknoian, CEO and Co-Founder of WIA. Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence advised them on the transaction. APEX Consulting, Inc. provided legal counsel to Cotten Coverage, and Agency Brokerage Consultants advised them on the transaction. No other advisors, diligence firms or legal counsel were disclosed. About World Insurance Associates LLC World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed 160 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #2 on the Fastest Growing Brokers list by Business Insurance and is a Top-50 ranked personal lines agency by Insurance Journal.

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