Kent & Essex Mutual will access Guidewire to automate processes and integrate products with tech partners

Key Signals in Insurance

Deal
Kent & Essex Mutual Insurance Company selects Guidewire to automate business processes and accelerate growth
Guidewire will automate and streamline business processes to drive Kent & Essex Mutual’s growth strategy. The company also selected DataHub and InfoCenter as its new enterprise-wide data management and analytics systems. Read More>>

Merger and acquisition
HDFC Life announces completion of Exide Life merger
The Bank has announced the merger with its wholly owned subsidiary Exide Life, under the receipt of the final approval from the Insurance Regulatory and Development Authority of India (IRDAI). Customers across both entities can access a wider bouquet of products and service touchpoints. Read More>>
NFP acquires UK-based brokerage Bentley Insurance Services
NFP acquired Mason James Insurance Services Limited (doing business as Bentley Insurance Services), one of the largest brokers in Staffordshire. NFP is the 9th best place to work for large employers in insurance, the 7th largest privately-owned broker, the 5th largest benefits broker by global revenue, and the 13th largest broker of US business. Read More>>

Executive Movement
Zipari names Tabatha Erck as the next Chief Executive
Zipari appointed Tabatha Erck as CEO. Nathan is stepping down to pursue new ventures, leading Zipari to new heights and setting the company on a bright course for continued success. Read More>>
Berkshire Hathaway Specialty Insurance (BHSI) names Mary Bruce-Kahn as Chief Executive in Singapore
Mary joined BHSI in January as Regional Head of Operations & IT based in Singapore. She has over 20 years of experience in operational leadership in the insurance industry and previously held senior local and regional positions in Thailand, Singapore, and Australia. Read More>>

Financial and Market Activity
Hurricane Ian’s claims are likely to push Swiss Re to a Q3 loss
Swiss Re estimates Hurricane Ian’s claims at around USD 1.3 Bn. The third-quarter net loss of around USD 500 Mn after the reinsurance company absorbed preliminary claims from Hurricane Ian of approximately USD 1.3 Bn. Read More>>
Palomar announces Q3 estimated pretax catastrophe losses of USD 12.5 Mn
Palomar’s losses anticipate a full retention loss of USD 12.5 Mn from Hurricane Ian. The losses from Hurricane Ian also resulted in an additional ceded reinsurance premium of USD 3.1 Mn, with USD 1.3 Mn recognized in the third quarter, and the remaining USD 1.8 Mn recognized ratably. Read More>>

Latest Industry Insights from Draup Braindesk

Funding Alert

Bright Health raises USD 175 Mn to shore up shaky finances

Bright Health is working to stabilize its troubled finances. The insurtech sold 175,000 shares of Series-B stock to support its newly focused business. The capital raise follows a strategic pivot to focus on Medicare Advantage and direct patient care through its NeueHealth provider arm. Read More>>

Startup Spotlight

Company – Seyna
Total Funding – USD 53.1 Mn
About: Seyna provides an insurance creation, management, and distribution platform for brokers to create, sell, and manage insurance products. It offers a technical platform and underwriting services to launch new insurance products and manage contracts. Read More>>

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