Liberty Mutual announces new coal policy, appoints sustainability head

Liberty Mutual | December 16, 2019

Liberty Mutual Insurance has announced the appointment of Francis Hyatt to the newly created role of chief sustainability officer. Hyatt will lead the company’s Office of Sustainability and focus on environmental, social and governance (ESG) issues. The company has also announced a new policy on coal underwriting and investing. Under the new policy, Liberty Mutual will no longer accept underwriting risk for companies where more than 25% of their exposure arises from the extraction or production of energy from thermal coal. Liberty Mutual will also no longer make new investments in debt or equity securities of companies that generate more than 25% of revenues from thermal coal mining or utility companies that generate more than 25% of their electricity production from thermal coal. The company will phase out coverage and investments for existing risks that exceed that threshold by 2023.

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The outsourcing service provider to offshore outsourcing solutions to India, the Philippines, and Uruguay. The outsourcing company offers extensive services at affordable pricing.

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The outsourcing service provider to offshore outsourcing solutions to India, the Philippines, and Uruguay. The outsourcing company offers extensive services at affordable pricing.

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Utmost Group Upgrades Financial Compliance Capabilities with Napier

Napier and Utmost Group | February 01, 2023

On January 31st, 2023, Utmost Group, which offers insurance and savings solutions, enhanced its financial compliance capabilities in collaboration with Napier, a customizable anti-financial crime compliance provider. Napier's client screening solution, which started operations in just 21 days, was implemented to bolster the company's existing compliance strategy and to facilitate future expansion. The Napier team met these stringent deployment deadlines to meet the time constraints imposed by the expiration of licenses held by the outgoing partner. The Client Screening solution from the company will enhance existing systems by automatically screening clients against sanctions, PEP (Politically Exposed Persons) lists, and other essential watchlists at appropriate intervals. In addition, the AI capabilities will allow for faster screening and help lower the number of false alarms. Paul Smith, Chief Risk Officer at Utmost International Isle of Man, shared, "We needed to rapidly migrate and then implement our existing screening protocols to the new system, so we were delighted that Napier was able to merge two legacy systems neatly into a single hosted instance while levelling up our capabilities. This really made the difference when managing the upgrade of systems that were being made end-of-life earlier than expected." He added, "Compliance requirements inevitably evolve over time as risks also change and criminals become more sophisticated, so we are delighted to have a robust system now in place that will keep us one step ahead of our obligations and enhance our overall services." (Source – Business Wire) About Napier London-based Napier is a compliance technology specialist that operates a platform based on extensive experience and in-depth knowledge. Combining big data technologies with AI and machine learning, the company offers products that improve efficiency and reduce risk. Its strategy underpins the client's policy, process, and procedure, allowing them to concentrate on specific outcomes. The compliance platform is quick, scalable, easily configurable, and intuitive. It rapidly bolsters AML defense and trade compliance capabilities while achieving the compliance requirements and challenges of any industry. About Utmost Group Utmost Group, headquartered in London, is a leading insurance and savings solutions provider. The company offers innovative, adaptable solutions that help clients secure their financial futures. The main divisions of the Group are Utmost International, Utmost Life and Pensions. The key business lines of Utmost International consist of Utmost Corporate Solutions and Utmost Wealth Solutions. The Group has approximately £58 billion in AUA and 550,000 customers as of June 30th, 2022, with over 1,500 employees across all its businesses.

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CORE INSURANCE

Inszone Insurance Services Acquires Capizzi Insurance

Inszone Insurance | November 24, 2022

Inszone Insurance Services: a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced today the acquisition of Capizzi Insurance. Capizzi Insurance was founded in 1971 by Vincent Capizzi. With one location Capizzi Insurance primarily operated as a standard-preferred personal lines and small-mid commercial lines property and casualty agency. Throughout their history they have focused on helping their clients in finding the best program that fits their specific needs. The Capizzi Insurance team will transition over to Inszone’s Lakewood location and continue serving customers under the Inszone Insurance brand. Customers will experience a seamless transition and continue to receive the same standards of service they have come to expect. “We’re excited to welcome Capizzi Insurance into the Inszone Insurance family, We continue to grow within specific areas in California, we are happy to be able to add additional avenues of support and additional service offerings as we expand in the state." -Chris Walters, CEO of Inszone Insurance About Inszone: Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm which provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 32 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.

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CORE INSURANCE

American Equity Announces Strategic Partnership With 26North

AMERICAN EQUITY | November 09, 2022

American Equity Investment Life Holding Company (American Equity) (NYSE: AEL), a leading issuer of fixed index annuities (FIAs), announced that it is entering into a long-term partnership with 26North Partners LP (26North), a multi-asset platform founded and led by Josh Harris, in which American Equity has made a strategic investment. Anant Bhalla, Chief Executive Officer and President of American Equity, will join the Board of Directors of 26North. A Bermuda-based reinsurer, AeBe ISA Ltd., which is affiliated with 26North, has reinsured approximately $4.3 billion of GAAP reserves of American Equity fixed indexed annuity policies from 2008 and 2010. American Equity estimates that this will generate an initial capital release in excess of $250 million and generate a positive ceding commission, thereby growing AEL’s revenue-generating reinsured liabilities. “This partnership with 26North is a further step in our AEL 2.0 strategy to deliver significant value to all shareholders. The strategy is aligned with policyholders through our unique go-to-market and investment management approaches and capital-light structure. We continue to refine a capital-efficient business model to deliver superior, sustained returns for our shareholders and further strengthen our robust balance sheet. This deal will enable greater capital flexibility for AEL as we benefit from 26North’s investment expertise to deliver on attractive opportunities across private asset classes. We are proud to add 26North to our outstanding investment partner ecosystem and further advance our transformation into a hybrid, diversified financial services firm.” -Anant Bhalla, Chief Executive Officer and President of American Equity Mr. Bhalla continued, Our agreement with 26North complements the strategic partnerships we have struck to support our unique investment management strategy, with each transaction providing access to a specific asset sector. Partnering with world-class investment firms – Adams Street, Monroe Capital, Pretium and now 26North – allows all AEL shareholders to participate in asset management economics, which is fundamental to our AEL 2.0 strategy. ABOUT AMERICAN EQUITY At American Equity Investment Life Holding Company, we think of ourselves as The Financial Dignity CompanyTM that offers solutions designed to create financial dignity in retirement. Our policyholders work with independent agents, banks and broker-dealers, through our wholly-owned operating subsidiaries, to choose one of our leading annuity products best suited for their personal needs. To deliver on our promises to policyholders, American Equity has reframed its investment focus, building a stronger emphasis on insurance liability driven asset allocation as well as the origination and management of private assets. Our company is headquartered in West Des Moines, Iowa with satellite offices slated to open in 2022 in Charlotte, NC and New York, NY. ABOUT 26NORTH 26North Partners LP is an integrated, multi-asset class investment platform, founded and led by Josh Harris. 26North provides investment advice and opportunities to its clients related to a variety of investment strategies, including, but not limited to, private equity, credit, and insurance and reinsurance solutions. Josh Harris and the 26North team bring decades of experience managing third-party capital to help clients achieve their financial goals while leaving a lasting impact on the communities they serve. 26North has more than $9.5 billion in assets under management.

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