Is there ever a right time to sell your insurance business?

insurancebusinessmag | May 31, 2019

Its easy to lose the human element within the world of mergers and acquisitions. Many of our competitors are hard line consolidators buying with nosebleed-inducing multiples. These multiples are so high, in fact, that by definition the consolidator is forced to make a drastic impact on the business they are acquiring in order to leverage enough revenue to support the deal.As a business owner, especially an SME, that notion can be terrifying. I understand this on a personal level because I have lived and breathed this whole process as a broker myself. For you, each number isnt just a number - it means something tangible, emotional and personal. Your GWP includes that astounding success your top salesperson landed last month. Your costs include your infamous staff Christmas party. Your profits drive the bonuses you’re able to reward your employees with at the end of the financial year. Its all inextricably linked to your people.

Spotlight

Whether your car insurance prices have gone up, your policy is expiring soon, you have a new teen driver in the house or an old speeding ticket finally fell off your record, you may find yourself in a situation where shopping for car insurance quotes could help you save some money. The scenarios in the infographic below can help you determine if spending a little time reviewing auto quotes now might pay off.

Spotlight

Whether your car insurance prices have gone up, your policy is expiring soon, you have a new teen driver in the house or an old speeding ticket finally fell off your record, you may find yourself in a situation where shopping for car insurance quotes could help you save some money. The scenarios in the infographic below can help you determine if spending a little time reviewing auto quotes now might pay off.

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Allianz Global Corporate & Specialty to target multinational insurance with new set-up and dedicated investments

Allianz Global Corporate & Specialty | July 15, 2022

Allianz is aiming to substantially expand its business from customers in the global insurance program sector to serve the increasing demand from large and medium-size companies needing cross-border coverage. Its international corporate insurance carrier, Allianz Global Corporate & Specialty (AGCS), is strengthening its capabilities, including a new market-facing team as well as dedicated investments in data and technology, and will expand its customer services. To support its Multinational customers, AGCS has moved the Management Board responsibility to the ‘Regions and Markets’ area led by Henning Haagen, who oversees market-facing activities including distribution. The new AGCS Multinational set-up also includes a strengthened global leadership team and enhanced regional responsibilities. Guy Money, currently Global Head of Product at AGCS, has been appointed Global Head of Multinational Business. The well-established AGCS Captive Solutions team, led by Brian McNamara, will be integrated into the Multinational business to serve customers with a broad range of services from traditional, multi-line global programs to captive fronting and reinsurance as well as hybrid combinations of traditional and alternative risk transfer. “With our new strategy and set-up, integrated with the network strength of Allianz Group, we are well positioned to capture new business in this sophisticated segment of corporate insurance. This ambition is very much in line with our overall market leadership aspiration,” says AGCS Chief Executive Officer Joachim Mueller. “With our new strategy and set-up, integrated with the network strength of Allianz Group, we are well positioned to capture new business in this sophisticated segment of corporate insurance. This ambition is very much in line with our overall market leadership aspiration,” says AGCS Chief Executive Officer Joachim Mueller. New AGCS Multinational team Further key leadership appointments in the new AGCS Multinational team include Jayesh Patel who is leading the Multinational Market Practice Team. He and his regional representatives will work closely together with AGCS’ global and regional distribution teams to drive business development in target markets. Karol Dobias remains in charge of the Business Excellence unit responsible for global standards, performance tracking and steering. The Network Management Team is overseen by Melanie Windirsch, who is responsible to deliver local services across all network countries. Nigel Leppitt will oversee the Multinational transformation program. About Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across nine dedicated lines of business and six regional hubs. Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses. Among them are not only the world’s largest consumer brands, financial institutions, tech companies and the global aviation and shipping industry, but also satellite operators or Hollywood film productions. They all look to AGCS for smart solutions and global programs to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience. Worldwide, AGCS operates with its own teams in more than 30 countries and through the Allianz Group network and partners in over 200 countries and territories, employing around 4,250 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2021, AGCS generated a total of €9.5 billion gross premium globally.

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World Insurance Associates Expands Midwest Presence with Acquisition of Woody Insurance Group

World Insurance Associates LLC | August 30, 2022

World Insurance Associates LLC (WIA), a Top 50 Insurance Brokerage, announced today that it acquired The Woody Insurance Group (Woody Insurance) of Prairie Village, KS on August 1, 2022. Terms of the transaction were not disclosed. The Woody Insurance Group has been providing insurance to individuals and businesses in the Kansas and Missouri communities for over 20 years. They also have a focus on the construction industry. “Our top goal is to make the insurance-buying process easy and thorough for our customers, We provide highly customized solutions to any business or personal need and look forward to continuing this approach as part of World.” -Chris Woody, President, The Woody Insurance Group I’m pleased to welcome Woody Insurance to the World family, They are well known for their unparalleled customer service and will be a nice fit within the World company,says Rich Eknoian, CEO and Co-Founder of WIA. Giordano, Halleran & Ciesla provided legal counsel to WIA. Myers Longhofer LLC provided legal counsel to The Woody Insurance Group. 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 155 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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First American Title Unveils PRISM™ Digital Platform for Title Agents

First American | August 29, 2022

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