Chintai | August 13, 2021
Chintai, a Singapore-based SaaS company that leads in compliant blockchain technology for capital markets, has partnered with iTrust, a decentralized finance insurance protocol. iTrust will provide insurance coverage for deposits, smart contracts, and impermanent loss protection for liquidity providers on the Chintai network, creating a more dependable ecosystem for all users.
The partnership solidified ahead of Chintai's private institutional beta release, which gives financial institutions a no-cost opportunity to test compliant digital asset issuance and secondary trading for traditional assets such as equities, bonds, real estate, and debt. Multiple institutional participants have joined the beta by testing the tokenization of traditional assets on the platform, including investing leaders such as Collective Capital, Chimera Wealth, B1, and Cryptology Asset Group.
iTrust will work to provide syndicated cover on the Chintai network. But what sets iTrust apart is their ability to both provide 'reinsurance' while maximizing the staking benefits for decentralized finance products such as Nexus Mutual, InsurAce, and others.
In an industry that lacks insurance for crypto assets, iTrust is playing an important role for companies like Chintai, which aims to provide an easy-to-use bridge that allows traditional financial institutions to easily port regulated assets to a fully compliant blockchain environment.
"Chintai is an industry leader in providing much-needed professional, regulatory compliant services and platforms to the financial services sector. We are extremely excited to work with Chintai to source and supply syndicated cover to protect its users," said Robert Cooke, Co-Founder & Director of Partnerships for iTrust.
"iTrust fills a gap in the blockchain industry which will enable traditional financial institutions to work with the same industry standards in regards to risk management," said David Packham, CEO of Chintai. "We are delighted to work with iTrust to revolutionize capital markets with our compliant digital asset technology".
The Chintai institutional beta program provides financial institutions with a comprehensive digital asset product suite for compliant issuance, secondary trading, algorithmic market making, and custody. Participants will trial the platform with no up-front cost, which enables experimentation and customizations to suit their specific needs.
Chintai is a Singapore-based company with offices in Germany that uses blockchain technology to modernize capital markets for asset managers, banks, and enterprises. Our core product suite streamlines the life cycle of regulated assets by automating compliance, reporting, data reconciliation, cap table management, corporate actions, liquidity, and more. The technology can be white-labeled to allow anyone to become their own regulated issuer and market operator. Chintai is currently accepting clients into our pilot program for tokenized real estate, funds, debt, and other financial instruments.
MDS Group | December 24, 2021
The Ardonagh Group today announces that it has agreed to acquire MDS Group, a leading insurance broker and risk management advisor across the Portuguese-speaking world and Europe.
Headquartered in Porto, Portugal, MDS has offices in Brazil, where it is the country's largest independent broker, as well as Angola, Mozambique, Spain, and Malta. It is the only Portuguese Lloyd's Broker.
MDS employs 900 colleagues and recorded revenue of €74.8 million (£65 million) in the 12 months to 30 June 2021. MDS manages over €500 million in insurance premiums for 1.2 million private and corporate clients each year.
Ardonagh intends to fund the acquisition with a combination of equity and debt. MDS will be acquired by Ardonagh Overseas Investments Ltd and operate as part of Ardonagh Global Partners.
In addition to its core broking operations, spanning property & casualty, health, retail and wholesale, MDS operates Highdome PCC in Malta, offering sophisticated alternative solutions to the traditional insurance market including captive and reinsurance solutions to large clients. Completing MDS' offering is Risk Consulting Group (RCG), a multinational risk management consultancy.
MDS is also the founding member and a shareholder of Brokerslink, a network of brokers and speciality risk and consulting firms operating in 122 countries.
Upon completion, Ardonagh Global Partners will acquire 100% of the issued shares of MDS from its two shareholders, Sonae Group and IPLF Holding. The management team led by MDS Group Global CEO José Manuel Fonseca will remain with the business and continue to lead an expansive growth plan in all of the MDS territories.
"Having considered our future very carefully, we saw in The Ardonagh Group and its leadership a perfect match for our vision and growth ambitions. We are incredibly excited to be joining forces with a global independent group with Ardonagh's scale and dynamic culture. With access to Ardonagh's considerable resource and capital, we look forward to accelerating our organic and inorganic growth plans."
-José Manuel Fonseca
Ardonagh Global Partners was launched in January 2021 to invest in best-in-class businesses and management teams around the world and in turn support their growth ambitions.
It is a great privilege to partner with a distinguished and high-profile broking platform such as MDS. Jose Manuel together with his experienced and high calibre management team have developed a world class reputation for client service, innovation and professionalism, delivering outstanding service to their clients for over 30 years.
-Ardonagh Global Partners CEO Des O'Connor
THE ARDONAGH GROUP
The Ardonagh Group is the UK's largest independent insurance distribution platform and a top 20 broker globally. We are a collection of best-in-class entrepreneurial and specialist brands with a network of more 100 locations and a combined workforce of more than 8,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.
MDS is a multinational group doing business as an insurance and reinsurance broker and risk consultancy, with a presence in over 125 countries. MDS is a market leader in Portugal, one of the largest players in Brazil and Angola, and maintains a direct presence in Mozambique, Spain, Malta, and Switzerland. Through Brokerslink, a global brokerage firm founded by the group which relies on 21,000 insurance professionals, it addresses customers' needs across multiple geographies and sectors. The group includes MDS RE, a reinsurance specialist doing business in Europe, America and Africa, and RCG — Risk Consulting Group, a leading firm in risk analysis, loss control, business continuity plans and enterprise risk management. Through HighDome, a Protected Cell Company (PCC), MDS offers risk transfer solutions that function as an alternative to the traditional insurance market. MDS also works with benefits management and flexible benefits through the companies 838 Soluções (Brazil) and Coverflex (Portugal).
CoreLogic, Donegal Insurance Group | March 01, 2021
CoreLogic®, a leading global property data and analytics-driven solutions provider, today announced that Donegal Insurance Group, a family of property and casualty insurance companies, has chosen CoreLogic as the innovation provider to control and streamline their property claims operations and help improve the policyholder experience.
“Donegal is known for its superior claims service and takes pride in being ‘There When It Matters Most’ for its policyholders,” said Bob McCafferty, VP of Claims for Donegal Insurance Group. “By engaging with CoreLogic and leveraging their Claims Platform, we will be able to further enhance the customer experience. Using the tools and integrations available through CoreLogic, we can keep customers connected and informed throughout the claims process. In many cases, our claim representatives can quickly estimate damages from their desk, resulting in faster settlements and higher levels of customer satisfaction.”
CoreLogic conveys solutions across guaranteeing, claims and risk management that enable insurance carriers to give a convincing digital policyholder experience and unrivaled ease of utilization through each touchpoint in the property insurance environment. Its exceptional approach to join all parts of the insurance workflow onto one cloud-native simultaneous platform, improves on claims measure, enables innovation agility through top tier InsurTech and integrates production network sellers with a flip of a switch. The cloud-based insurance hub utilizes a safe and open architecture enabled by an industry-leading API framework, making it easy for customers to associate with a large group of innovative outsider InsurTech solutions through the CoreLogic Digital Hub Alliance.
“We have been fortunate that many insurance companies are turning to CoreLogic as they look to deliver a better experience with more efficient claims handling and ease of integration with their key suppliers and third-party technologies,” said Frank Martell, president and CEO, CoreLogic. “This newest collaboration with Donegal demonstrates CoreLogic’s future growth and transformation in the insurance sector to significantly improve the customer experience at their most critical moment of need.”
CoreLogic, the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes.