Monsanto May Have Kept Private Data on Europeans to Influence Pesticide Views

Monsanto | May 15, 2019

Bayer said on Monday its Monsanto unit, which is being investigated by French prosecutors for compiling files of influential people such as journalists in France, likely did the same across Europe, suggesting a potentially wider problem.French prosecutors said on Friday they had opened an inquiry after newspaper Le Monde filed a complaint alleging that Monsanto – acquired by Bayer for $63 billion last year – had kept a file of 200 names, including journalists and lawmakers in hopes of influencing positions on pesticides.

Spotlight

61 percent of data breaches happen to companies that have fewer than 1,000 employees. A cyber insurance policy could help protect your business from the financial blow of a hack or data breach.

Spotlight

61 percent of data breaches happen to companies that have fewer than 1,000 employees. A cyber insurance policy could help protect your business from the financial blow of a hack or data breach.

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RISK MANAGEMENT

Insurtech Platform Ripe Announces Majority Investment from Aquiline Capital Partners LLC

Aquiline Capital Partners | November 01, 2021

Ripe Thinking Limited ("Ripe"), a UK-based digital underwriting and insurance distribution platform, is pleased to announce that it has entered into a definitive agreement for Aquiline Capital Partners LLC ("Aquiline") to acquire a majority stake in the company. Aquiline is a private investment firm based in New York and London with $6.9 billion in assets under management, specialising in investments at the intersection of technology and finance. Financial terms of the transaction were not disclosed. Since its founding in 1997, Ripe has grown rapidly serving a variety of customers across both personal and small commercial lines. Today, Ripe is a leading insurtech business with more than 280,000 policyholders, protecting their specialised needs across golf, boats, caravans, and cycles, as well as providing insurance to small business owners such as personal trainers, musicians, and photographers. Ripe's proprietary technology enables customers to "build their own policy", providing tailored solutions in an optimised online journey. Its first-class customer service and innovation in insurtech have seen the business win multiple industry awards and achieve continuous and impressive growth. Over the past 12 months, it saw revenue grow by 27 percent. Following this investment, Aquiline will work closely with the company's management team to continue and accelerate the build of a market-leading digital insurance distribution platform. Ripe's management team will continue to be led by CEO Paul Williams and Founder & Managing Director John Woosey, who will retain a significant equity stake, and Marketing Director Sarah Jones. "The way people buy insurance is changing. As more individuals turn to online platforms to purchase insurance, Ripe offers a simple process for buying policies online while still ensuring quality coverage at a good value. We believe that John, Paul, and their team have built a high-quality and scalable digital platform that can identify customer demands, and design and distribute products to address these efficiently. We are excited to partner with them through the next phase of their journey." - Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline "We are excited to partner with Aquiline, whose deep understanding of the UK and global insurance markets, and their track record of supporting technology-enabled businesses will allow us to further develop our offerings to our customers and continue to build out our underwriting and distribution capabilities. This partnership is a testament to the work of our incredible team who have delivered our strong and consistent growth year after year. The investment will allow us to accelerate our ambitions for international growth while still effectively and efficiently serving our customers across the UK." - John Woosey, Founder and Managing Director of Ripe Closing of the investment is subject to parties obtaining relevant regulatory approval. Houlihan Lokey provided corporate finance advice and Norton Rose Fulbright provided legal advice to Aquiline. Due diligence was performed by Deloitte (financial, tax and regulatory) and Crosslake Technologies (technology). Keefe Bruyette & Woods provided corporate finance advice and Ernst & Young provided legal advice to Ripe. Vendor due diligence was performed by Oliver Wyman (commercial) and KPMG (financial, tax, technology, operations and regulatory). About Ripe Ripe is one of the UK's largest specialist insurtech companies and brings together a rare mix of insurance, digital marketing and tech expertise. It creates ultra-targeted insurance products, where customers choose what they need rather than being forced to take out a pre-bundled policy. All of its products are growing and include Golf Care, Cycleplan, Insure4Boats, Insure4Sport and Ripe Caravans. Multi-award winning, Ripe won the Insurance Times Personal Lines Broker of the Year award in both 2019 and 2020 and has recently been named in the top 100 fastest growing UK tech companies in the North. About Aquiline Capital Partners Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in companies across financial services and technology, business services, and healthcare industries. The firm had $6.9 billion in assets under management as of June 30, 2021.

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CORE INSURANCE

Salvatore Insurance Brokers Ltd., based in Nova Scotia, has been acquired by Hub International

Hub International | June 04, 2021

Hub International Limited, a leading global insurance brokerage, announced today that it has acquired Salvatore Insurance Brokers Ltd. Terms of the transaction were not disclosed. Located in Sackville, Nova Scotia, Canada, Salvatore Insurance is a family-owned insurance agency providing clients in Atlantic Canada commercial insurance. They specialize in the transportation industry, which supports Hub's Specialty practices by complementing and strengthening its existing capabilities in commercial auto and fleet. Christina Salvatore, President of Salvatore Insurance, and their team will join the Atlantic Region and report to Susan Murphy, President of Hub Ontario. About Hub's M&A Activities Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.

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CORE INSURANCE

Zywave Named in 2021 Now Tech Report as Large Established Digital Insurance Agency Platform

Zywave | January 05, 2022

Leading insurtech provider, Zywave, has been named as one of two large established vendors in the end-to-end solution functionality segment for digital insurance agency platform providers, according to Forrester's "Now Tech: Digital Insurance Agency Platforms, Q4 2021" report. The report overviewed 13 digital insurance agency platform providers based on market presence and functionality. Zywave is categorized as one of two large established vendors within the digital insurance agency platform space that were classified in the end-to-end solution functionality segment. "We are pleased to be named in this Forrester report, Over the past few years, Zywave has made significant investments in research and development, as well as in the acquisitions of new technologies. Today, we are proud of this recognition in the end-to-end provider functionality segment." -Eric Rentsch, Zywave senior vice president of product management. The Forrester report is a vital industry resource offering precise insights on the technology services that agencies can use to operate more efficiently. The report helps to assess the value digital insurance agency platforms can provide and further breaks them down by size and functionally, enabling businesses to make more informed decisions. A key benefit of Zywave's platform is the ability to scale to the needs of their customers, no matter their size and across personal lines, commercial lines and employee benefits. As an end-to-end solution, Zywave enables agencies and carriers to simplify digital transformation as a platform that offers marketing automation applications, integrated digital client experience software, employee mobile apps, insurance knowledge base toolkits, and distribution and compliance management offerings. About Zywave Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. Zywave's all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals—their own Modern RevOps Machine. More than 15,000 carriers, agencies and brokerages worldwide—including all of the top 100 U.S. insurance brokerages—use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management and safety.

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