CORE INSURANCE
ELDRIDGE | January 13, 2022
Accelerant, the insurtech empowering underwriters with superior risk exchange and data analytics coupled with long-term capacity commitments, today announced it has raised in excess of $190 million at a $2 billion pre-money valuation led by Eldridge, with participation from Deer Park, Marshall Wace, MS&AD Ventures, and others. Existing majority investor Altamont Capital Partners also participated in the round. Accelerant will deploy the capital to continue to rebuild the way that underwriters share and exchange risk to improve outcomes for program managers, primary issuing carriers, and ultimate risk-bearers.
"Aspects of the insurance industry have been broken for a long time, At Accelerant our approach is pretty simple — which is maybe what makes it a little radical: We're bringing transparency, data, and shared incentives back into the equation, serving MGUs as important partners in the insurance ecosystem, and overall making it easier and more efficient to exchange risk. The approach is clearly resonating and successfully aligning incentives. I'm thrilled by this endorsement of our strategy and to have the opportunity to put this capital to work on behalf of our current and prospective Members in service of the industry at large. We look forward to working with new partners to apply our differentiated approach and technology to lines of insurance beyond SME within which we can have an equally significant impact."
-Jeff Radke, CEO and co-founder of Accelerant.
Historically, underwriting teams supporting complex or niche lines of business have lacked the modern solutions needed to facilitate their work, which has hindered their ability to get capacity and to properly understand and exchange risk. With a partner-first approach, Accelerant specializes in serving a carefully selected and managed network of managing general underwriters (MGU) and program administrators (PA) that it refers to as its Members.
Accelerant's InSightFull™ data platform helps members better understand risk, benefit from insights, and handle operational and regulatory complexity. Together, Accelerant works with its Members to drive market-leading profitable growth, focusing on the small and medium-sized businesses that power our global economy and their niche insurance needs.
"The Accelerant team understands the challenges that MGUs and PAs face with conventional carriers, and they've built an offering to address those needs. With cutting-edge data and analytic capabilities, Accelerant's platform eliminates bureaucracy to offer an experience that prioritizes velocity and collaboration, We're excited to support Accelerant as they enter their next phase of growth and create value throughout the insurance ecosystem with their member-centric, collaborative approach."
-Todd Boehly, co-founder and CEO of Eldridge.
ABOUT ACCELERANT
Accelerant is a data-driven, technology-fueled insurance platform that empowers underwriters to more effectively serve their insureds. We're using advanced data intelligence tools to rebuild the way that underwriters share and exchange risk. With a current focus on the small and medium-sized businesses that power our global economy and their niche insurance needs, we align incentives to improve outcomes for everyone. Our full-service risk exchange supports our carefully selected, best-in-class network of underwriting teams. We leverage granular information on each policy to deliver unprecedented insight into insurance pools, and our specialty portfolio is fully diversified with very low catastrophe, aggregation, or systemic risk. We're proud to have been awarded an AM Best A- (Excellent) rating.
ABOUT ELDRIDGE
Eldridge invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London.
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INSURANCE TECHNOLOGY
Arthur J. Gallagher | April 26, 2022
Arthur J. Gallagher & Co. today announced the acquisition of Greenwood Village, Colorado-based Ryan Insurance Strategy Consultants. Terms of the transaction were not disclosed.
Founded in 1990, Ryan Insurance Strategy Consultants assists financial advisors with insurance recommendations for their clients. With its research focused on life, disability and long-term care insurance planning, the Ryan team performs due diligence on new and existing insurance plans prior to recommending any insurance solution. Ryan also helps administer association group insurance benefit programs that insure thousands of financial advisors for their own personal insurance needs. John Ryan and his associates will continue operating from their current location under the direction of Kevin Garvin, head of Affinity North America for Gallagher's retail property/casualty brokerage operations.
Ryan's strong relationships with leading financial planning associations will help us deepen and expand our existing footprint in professional lines programs into new and growing segments, I am excited to welcome John and his colleagues to Gallagher."
J. Patrick Gallagher, Jr., Chairman, President and CEO.
Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 68 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
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INSURANCE TECHNOLOGY
Heffernan Insurance Brokers | April 06, 2022
Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States, announces a new resource group called Women Empowered (WE). WE is open to all interested in participating and aims to increase confidence and competence, encourage a positive self-brand, provide an opportunity to expand their network, support career planning, and offer guidance on how to align their work and life goals.
Women Empowered is the next iteration of the Women of Influence (WOI) group founded at Heffernan Group by Leticia Trevino, Elizabeth Bishop, and Jennifer Mahoney, who demonstrate professional merit and leadership in their careers. We are united, connected, and gather as one integrated front. Together WE are empowered.
As women, we have so much to offer. WE is focused on creating opportunities and forums for us to share, learn, and grow as we strive to be the best versions of ourselves."
Jen Mahoney, Chief Operations Officer, Heffernan Insurance Brokers.
We are all enriched by providing a place and space for women from different backgrounds to come together and support each other along life's journeys while educating men on the challenges women face."
Leticia Trevino, Chief Insurance Compliance Officer, Heffernan Insurance Brokers.
About Heffernan Insurance Brokers
Heffernan Insurance Brokers, formed in 1988, is one of the largest independent insurance brokerage firms in the United States. Heffernan provides insurance and financial services products to a range of businesses and individuals. Headquartered in Walnut Creek, Calif., Heffernan has offices in San Francisco, Petaluma, San Jose, San Mateo, Truckee, Bakersfield, Woodland Hills, Cypress, Los Angeles and Irvine, CA; Phoenix, AZ; Portland, OR; Seattle, WA; St. Louis, MO; Philadelphia, PA; and London UK.
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RISK MANAGEMENT
Sun Life | January 04, 2022
Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced today that it completed the redemption of all of its issued and outstanding Class A Non-Cumulative Rate Reset Preferred Shares Series 12R.
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2021, Sun Life had total assets under management of $1.39 trillion.
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