PEOPLE & PLACES
Two executives at Aflac were listed by Black Enterprise Magazine as a few of the 50 most powerful women in corporate America for 2015. The February issue features Teresa White, president of Aflac U.S., and Laree Daniel, chief administrative officer.
Santandar Holdings USA Inc. announced this week that Scott Powell has been named its new CEO. Powell has had years of experience in risk management J.P. Morgan Chase & Co. and Citi in a variety of roles.
Arbella Insurance Group appointed Joseph G. Murphy and Brian O'Dwyer to its board of directors. Murphy served as former Massachusetts Insurance Commissioner from 2010 to 2014, and O'Dwyer is senior partner at O'Dwyer & Bernstein LLP.
Tom Schaefer, managing director of Cincinnati's Wells Fargo Insurance Services, will retire in late April. Todd Belden, former president at Hylant group, is taking Schaefer's position.
NEW PROGRAMS
Specialty Insurance Group, which provides coverage in sports, leisure and entertainment industries, announced the expansion of its excess/umbrella coverage to $25 million, a substantial increase by $10 million.
XL Group's Environmental insurance business unveiled "Risk Resource," an online video series offering safety tips and guidance to P&C insurers. The video is part of XL Group's Online Risk Control resources for Environmental industry clients and their employees.
NEWS
eXude, a minority-owned employee benefits consulting firm, partnered with ProSential Group, an independent employee benefits broker, in order to service mid-size firms.
The Oklahoma Insurance Department released a letter to P&C insurers discussing exclusions and the need for specialized training for earthquake adjusters. Commissioner John D. Doak released the letter after Oklahoma residents experienced thousands of quakes and tremors last year.
Reportlinker published an extensive report on private motor insurance trends in the U.K. this week. The report shows key drivers, distribution channels and the outlook for the market along with new regulatory developments to look forward to in the next year.
MarketReportshub.com released a new report that shows the boom of the phone insurance industry. The report, "The Mobile Phone Insurance Ecosystem: 2015 – 2020 – Opportunities, Challenges, Strategies & Forecasts," presents a comprehensive look at the phone insurance ecosystem and estimates that the market will be worth $48 billion by 2020.
FM Global, a global business property insurer, released its 2014 numbers this week, showing off an increased net premium and policy surplus. The company also reported that they would give a membership credit worth $465 million to eligible policyholders renewing by June 30 of this year.
M&A
Platinum Underwriters Holdings Ltd. announced this week that their acquisition by RenaissanceRe Holdings Ltd. is complete. The acquisition was originally announced last year in November.
Aycock & Fowler, an insurance broker based out of Lubbock, Texas, merged with Higginbotham Insurance Group, a Fort Worth-based insurance broker ranked as one of the largest brokers for U.S. Business. The merger is another of Higginbotham's expansion throughout Texas, increasing operating locations to 22 offices.
AmTrust Financial Services announced this week the final steps in acquiring CorePointe Insurance Co., a specialty P&C company based out of Birmingham, Mich. The majority of CorePointe's insurance products and services are distributed through MGAs with whom CorePointe has had a long-standing relationship.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.