Hub International purchases assets of NY-based boutique specialty insurer

Hub International | February 06, 2020

Hub International purchases assets of NY-based boutique specialty insurer
Hub International has acquired the assets of Kokkoris Corp., dba Kokkoris Insurance Services. Terms of the transaction were not disclosed. Kokkoris Insurance Services, based in Astoria, NY, is a boutique insurance agency that offers commercial and personal insurance to clients – particularly those in the construction, real estate, and hospitality industries. The acquisition supports Hub’s specialty practices by “complementing and strengthening” the broker’s existing capabilities, a release said. “We are excited to have Jordan Kokkoris join our region,” said Hub International Northeast president and CEO Paul Collins. “Kokkoris Insurance Services further strengthens our presence in New York City, and we believe that Jordan and his team will greatly expand the opportunities available to Hub and our clients in the area as we seek to fulfill our promise to deliver best-in-class client advocacy and tailored insurance solutions.”

Spotlight

Being future ready drives growth. Reducing overhead frees capital for business investments. As a carrier, growth is critical to survival. You need to enter new markets, launch new products and have cash available to invest in your business. Supporting constantly-changing business requirements, while reducing operational costs and managing existing IT platforms to enable new product and operational capabilities, can pose a significant challenge.

Related News

Travelers posts 25% drop in quarterly profit

Traveler | April 22, 2020

Travelers has reported a 25% drop in quarterly profit. The company also warned that potential claims for compensation coverage for furloughed and laid-off employees would impact its results for the year, according to a Reuters report. With the coronavirus pandemic weighing on the economy, millions of Americans are now jobless. Travelers said it might see “elevated claims frequency and severity” for its workers’ compensation line of business as states expand workers’ comp coverage. Commercial insurers are facing broad pressure to cover claims from businesses impacted by COVID-19-related shutdowns.

Read More

Novacap Announced Acquisition of Majority Interest in GroupAssur

Cision PR Newswire | September 18, 2020

Novacap, one of Canada's leading private equity firms, announced today that it has entered into a definitive agreement for the acquisition of a majority interest in GroupAssur Inc., a Canadian managing general agent ("MGA") specializing in the Property and Casualty ("P&C") insurance lines, and offering distinctive insurance products across Canada. Headquartered in Montreal, QC, with additional services offices, located in Quebec City and Brossard, QC and Markham, ON, GroupAssur provides comprehensive, innovative, and efficient insurance solutions to its country-wide network of Canadian brokers.

Read More

RISK MANAGEMENT

AXA XL adds two to E&S Primary Casualty insurance team

AXA XL | December 07, 2021

AXA XL has added new Excess & Surplus (E&S) casualty insurance underwriting expertise with the addition of Matthew Moses as Senior Underwriter in New York and Joshua Steele as Senior Underwriter in Scottsdale, Arizona. "Given the current hard market conditions in admitted markets and the challenges brought on by pandemic, more severe Cat events, nuclear verdicts, and overall economic strains, the E&S market continues to thrive. We've seen a substantial uptick in submissions and plenty of opportunities to grow. That's why we're excited to welcome seasoned underwriters like Matt and Joshua who bring more than two decades of underwriting experience to our team and are ready to hit-the-ground running to help us address our clients' most challenging primary casualty risks." - Ankur Chokshi, AXA XL's head of E&S Primary Casualty With more than 10 years of underwriting experience, Mr. Moses joins AXA XL from CapSpecialty where focused his underwriting activities on addressing the E&S casualty needs of the Construction industry. Prior to CapSpecialty, he was at Admiral Insurance group, working in the Midwest, and building up Admiral's office from ground up. He is a graduate of Indiana University. Mr. Steele joins AXA XL's E&S team from AmTrust. In this newly created role based in AXA XL's West Zone, Mr. Steele will address the needs of wholesale brokers and clients throughout the Southwest. During his 10+ year-career in the insurance industry, he has held underwriting positions with Nationwide, Liberty Mutual and Travellers. He is a graduate of Georgia State University.

Read More

Spotlight

Being future ready drives growth. Reducing overhead frees capital for business investments. As a carrier, growth is critical to survival. You need to enter new markets, launch new products and have cash available to invest in your business. Supporting constantly-changing business requirements, while reducing operational costs and managing existing IT platforms to enable new product and operational capabilities, can pose a significant challenge.