Augment Risk appointed Steve McElhiney as partner of its newly created captive and alternative risk transfer solutions offering. McElhiney focused on driving growth in market segments where traditional solutions fall short, allowing Augment Risk to bring innovative strategies to under-penetrated areas, supporting the firm's development across North America.
Trucordia has acquired the insurance business of Richard King Insurance Agency, a family-owned brokerage firm in Powhatan, Virginia. This latest acquisition aligns with Trucordia's strategy to attract businesses with high growth potential in target industries and markets that have the ability to enhance its offerings to clients.
Ardonagh Group announced an equity investment from funds managed by U.S.-based private equity firm Stone Point Capital, a leading alternative investment management firm focused on the global financial services and related industries. The investment values Ardonagh at $14 billion.
Rokstone has launched Rokstone Parametric partnered with NormanMax Lloyd’s Syndicate 3939. With an initial $10 million worldwide facility, the product covers earthquake, hurricane, tropical cyclone and typhoon, with further perils including flood expected to come online in 2025. It is targeting $25 million GWP in 2024 with another $50 million GWP in 2025.
© 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.