Goldman Sachs Aims for Guaranty Insurance Market

NU Online News Service, March 19, 3:59 p.m. EDT

Taking advantage of the precarious position of guaranty insurers, Goldman Sachs appears to be aiming at entering that marketplace on the heels of acquiring Ariel Reinsurance earlier this month.

The clues to Goldman Sachs’ intentions came in a job posting first reported by The Financial Times which says the company is seeking a vice president for a position in its securities division.

In the posting,Goldman Sachs’ says that the market opportunities are interest because the monoline insurers providing the coverage for securities for financial instruments “are bust or close to bust.”

The revelation comes just as the banking firm announced a move to acquire Ariel Re earlier this month, a Bermuda-based insurer and reinsurer.

The company will operate as part of Goldman Sachs’ Reinsurance Group.

The Financial Times notes that with the onset of more regulation under Dodd-Frank, banks are seeking to diversify their income and one of doing this is by expanding into other fields of business.

A request for comment from Goldman Sachs was not immediately returned.

Comments

Resource Center

View All »

Making Coverage Letters Work for Your Clients

If you're a broker or insurance buyer with any length of service in the commercial...

Complimentary White Paper: The Compression of Workplace Time

How brokers and carriers respond to the compression of workplace time will create significant competitive...

The Changing Insurance Consumer: 6 Ways to Create Profitable Relationships

Today’s mobile and web-savvy consumers have new expectations when it comes to interacting with your...

Contractors General Liability Coverage 102

What is a prior work exclusion? Which option is right for my client? Why do...

Sign up today to get a 50% matching credit -...

Insurance marketing sometimes seems like it's a game of swings and misses, but we're here...

Guide: 5 Steps to Selling Cyber

Cyber risk and data security is on the agenda of every business owner and executive....

Citation Correlation

Do rigger and signalperson qualifications correlate with the cause of crane and rigging accidents? ...

Complete Guide to Electronic Signatures in Property & Casualty Insurance...

In property and casualty insurance, closing new business quickly is key. Learn how to leverage...

INSTANT ACCESS: Complimentary Sales Closer Questionnaires

Help property owners or managers compare your commercial residential property insurance coverage vs. the competition....

Determining Vacant Property Perils and Valuations

Are your clients fully covered for Vacant Properties? In this economic climate, your insureds may...

Florida Insurance Monitor eNewsletter

Receive P&C insurance news and perspective on the market and regulations for Florida and the Southeast Region. Sign Up Now!

Advertisement. Closing in 15 seconds.