Financial Institutions

Beazley launches $50mn financial institutions consortium

Beazley has launched a $50mn financial institutions-focused consortium known as Flex.

QBE names Højmark and Seul as European product managers for cyber and FI

QBE has bolstered its European financial lines offering with the appointments of Simon Højmark as product manager for cyber and Patrick Seul as product manager management liability and financial institutions.

Westfield Specialty buys renewal rights to portion of Intact’s FI book

Westfield Specialty has acquired renewal rights for a portion of Intact Insurance’s financial institutions book and has hired Kevin Koehler and Chris Luca to underwrite the business, The Insurer can reveal.

IQUW launches combined FI and cyber solution

IQUW has unveiled a new financial institutions wording for US clients that includes integrated cyber coverage.

Intact’s FI president Koehler and SVP Luca exit amid appetite shift

Intact Insurance Specialty Solutions has parted ways with Kevin Koehler and Chris Luca, the two most senior underwriting executives in its financial institutions unit, as the carrier looks to refocus on smaller account business in the segment, The Insurer can reveal.

IGI bolsters FI team with Dual’s Taylor

International General Insurance Holdings has appointed Richard Taylor to its financial institutions team, The Insurer understands.

Aon hires LSM’s FI manager Adamson

Liberty Specialty Markets’ financial institutions (FI) underwriting manager Samuel Adamson is set to join Aon’s specialty casualty reinsurance team, The Insurer understands.

WTW promotes Messinger to head of FI&PS

WTW has named Brad Messinger as head of its financial institutions and professional services industry division.

CAC adds Lockton’s Ross as private equity practice COO

CAC Specialty has brought in Kenny Ross from Lockton as chief operating officer within its private equity practice.

Former NFP execs Flippen and Kiemnec set to launch FI brokerage Lion Specialty

Seasoned financial institutions broking executives Mark “Flip” Flippen and Natasha Kiemnec are working on a specialty retail brokerage called Lion Specialty, with the start-up targeting a 1 November launch initially focused on insurance company clients, The Insurer can reveal.

Aon launches solution for financial institutions

Aon has collaborated with a number of London market insurers to launch an insurance solution designed to address key operational risks for financial institutions.

Lockton adds Guy Carp’s Spore for new US financial services markets leader role

Lockton has appointed Greg Spore US financial services markets leader, with the new recruit joining the business from Guy Carpenter where he most recently served as the reinsurance broker’s Financial Lines Center of Excellence leader.

AGCS: Regulatory compliance burden and cyber attacks top FI risks

Compliance-related claims for financial institutions are continuing to rise as the sector faces an increasing number of regulations around issues such as sanctions, data protection, cybersecurity and ESG, according to Allianz Global Corporate & Specialty.

Argenta’s Knight to launch casualty MGA Casper with Cinven and GIC backing

Argenta’s Bradley Knight is set to launch a casualty-focused MGA – Casper – with capacity provided by Hannover Re-owned Argenta and investment from Miller and its owners Cinven and GIC.

Markel bullish on construction business as US infrastructure bill drives growth - Noble

Markel’s newly appointed president of insurance, Jeremy Noble, is “laser focused” on growing profitably and steering the business to become a leading global speciality insurer, citing opportunities in construction, fintech and energy across its North America and London Market platforms in 2023.

CFC creates dedicated London underwriting team for global fintechs

Cyber insurance provider CFC has formed a dedicated fintech team within its financial institutions practice, marking the first team in the London market to solely focus on creating and underwriting solutions for fintechs globally.