Deal
Combined authority signs USD 4 Bn agreement with Legal & General
The landmark agreement of the two companies sets out a commitment to a seven-year program of L&G investment in the West Midlands. The first scheme for the partnership will be The Junction, a brownfield site in Oldbury which has lain empty for over 20 years. The site will be brought back into economic use through the investment of L&G. Read More>>
Partnerships
Digital insurance company Open teams up with Bupa
The companies are forming a joint venture. The partnership enables the company to bring simple, powerful insurance to more Australians. The partnership with Open allows Bupa customers to control what they want to include in their home, car, and travel insurance policies, leading to more flexible pricing. Read More>>
Legal & General partners on group protection wellbeing platform
Based on Fruitful Insights intelligence, the provider stated that through the platform, intermediaries and their group protection clients could better identify priorities, action plans, and follow-up assessments to improve staff’s wellbeing and performance. Read More>>
Thomas Miller Specialty announces strategic partnership with Send
The company partnered with Send Technology Solutions to automate and streamline its operating model. The new collaboration enables Thomas Miller Specialty to use Sends cloud-based Underwriting Workbench solution to manage new business, renewals, and endorsements across the London and Hamburg offices from one platform. Read More>>
Merger and acquisition
HDFC Life acquires stake in Xanadu Realty
The life insurance company has acquired a stake in a real estate business accelerator firm Xanadu Realty. The strategic investment for a significant minority stake values the firm at around INR 1,000 Cr (USD 128,929) pre-money, persons familiar with the development. Read More>>
USI Insurance Services acquires Ames-Grenz Insurance Services
The company acquired Sacramento, California-based employee benefits brokerage and advisory firm Ames-Grenz Insurance Services, Inc. USI connects over 8,000 industry-leading professionals from approximately two hundred offices to serve clients’ local, national and international needs. Read More>>
Executive Movement
Hollard Group appoints new CEO as Saks Ntombela bows out
Willie Lategan will take over from Saks Ntombela as Hollard Group CEO from 1 July. Lategan, an actuary by training, is a former group chief financial officer and CEO of Hollard’s short-term insurance arm. Ntombela announced that he would be leaving the group to join his family in Ireland, where his wife was recently appointed to a senior position at an international corporate. Read More>>
Brown & Brown, Inc. appoints Kiet Tran as CTO
Before joining Brown & Brown, Kiet Tran led IT infrastructure and operations for ADT. Kiet will be based at the Brown & Brown, Inc. enterprise campus in Daytona Beach, Florida. Read More>>
Hanstein named vice president of strategy for The MEMIC Group
The company named Hanstein VP of strategy for The MEMIC Group, a super-regional workers compensation insurance company with service teams from Maine to Florida and licensed in forty-six states. A graduate of Bates College and resident of Portland, Hanstein is an active volunteer with Women United and chairs its Advocacy Committee. Read More>>
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Latest Industry Insights from Draup Braindesk
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Startup Spotlight
Company – Bennie
Total Funding – USD 33 Mn
About: Bennie provides everyone with access to better benefits with an easy-to-use app and world-class brokerage services. Bennie makes benefits less complex and more accessible. Their team consists of experts from top benefits firms, technology startups, and insurance carriers to help people live healthier lives. Read More>>
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