Intelligence

CORPORATE

ACQUIRER TARGET

Allstate SafeAuto

Aquiline Capital Partners; Alight Aon

Davies SKWeston & Company Maryland-based SKW offers various outsourcing and technology services for insurance and other highly regulated industries

First Onsite Maxons Restorations The deal expands First Onsite’s footprint in the New York, New Jersey and Connecticut tri-state area

COMMENTS

Allstate’s deal for the nonstandard auto insurance carrier, which operates in 28 states, is valued at $300 million

Aon has agreed to offload its US retirement business to Aquiline and its Aon Retiree Health Exchange to Alight ahead of its merger with Willis Towers Watson

Gallagher LDJ American Online Benefits Group (AOBG) AOBG offers supplemental health insurance and wellness products through a network of more than 2,500 independent agents

HUB International EnterMedicare Los Angeles-based EnterMedicare’s platform offers senior citizens improved access to Medicare

Massachusetts Mutual Life Insurance Company American Financial Group The $3.5 billion sale includes Great American Life Insurance Company and two subsidiaries

USAA Noblr The purchase of insurtech Noblr will boost USAA’s ability to provide usage-based insurance to its members

Allstate acquires nonstandard auto carrier

Allstate Corporation has agreed to acquire SafeAuto, a nonstandard auto insurance carrier that provides coverage in 28 states. According to Allstate, total consideration for the deal includes a $270 million cash purchase price and around $30 million in pre-close dividends of certain non-insurance assets. The purchase is being handled by Allstate subsidiary National General; following the acquisition, SafeAuto’s capabilities and distribution will become part of National General’s direct-to-consumer nonstandard auto insurance operations.

“I am excited to see SafeAuto join the Allstate family and National General,” said SafeAuto CEO Ron Davies. “Allstate is an iconic brand with superb capabilities and people that will enable SafeAuto to more rapidly scale and serve even more consumers.”

PRODUCTS

Victor revamps builder’s risk program

Victor has relaunched its builder’s risk insurance program with an A++ carrier, with expanded appetite and increased capacity. The MGA offers builder’s risk solutions in 48 states and Washington, DC, covering both residential and commercial construction projects. The revamped builder’s risk program is available for quote, bind and issue online through Victor’s V2 platform, a new business portal that gives agents and brokers the benefits of instant quotes and application management through simplified and streamlined technology-driven processes.

Rokstone launches new US terrorism facility

London-based MGA Rokstone has created a new terrorism facility for the US market with A-rated capacity. The product was launched as a new alternative to TRIPRA, the US federal program formed after the 9/11 attacks. According to Rokstone, its facility goes beyond TRIPRA with additional emphasis on crisis management, victim support and rehabilitation. It is supported by one of the market’s first online quote-and-buy platforms for terrorism cover, allowing policies to be quickly and easily added to other core commercial covers and quotes to be generated in under a minute.

Chubb debuts automated travel insurance

Chubb has launched a new Pay As You Roam (PAYR) travel insurance offering that uses mobile phone roaming data to identify when customers are outside their home country, activating coverage automatically at a daily premium. A text message or pop-up notification in Chubb’s core app will inform customers that coverage is in place; they then have four hours from receipt of the message to either decline coverage or confirm who needs to be included for cover. Coverage ends when the customer is detected as no longer roaming or if they reach the maximum trip duration of 31 days.

Beazley expands its telehealth offering

Beazley has launched new online tools to help brokers and health professionals navigate telehealth regulations. In partnership with law firm BakerHostetler, Beazley has created an interactive digital map that provides detailed information on the state-by-state laws governing the provision of telehealth services across the US, highlighting regional variances in legislation and guidelines. The insurer has also rolled out credentialing and re-credentialing checklists designed to “help telehealth professionals remain compliant and in the strongest position to mitigate and defend against claims.”

DUAL unveils public company D&O program

DUAL Commercial has launched a new directors & officers insurance program for public companies, which joins the transactional liability insurance program it launched in April to form the newly created DUAL Transactional Solutions. DUAL’s new D&O offering will underwrite traditional ABC and Side A-only business on an excess basis, with a concentration on Fortune 1000 firms and limits of up to $10 million. “Our new public D&O offering is the perfect solution to what the market is looking for: new key players and the right capacity,” said Jim O’Connor, CEO of DUAL North America.

PEOPLE

NAME LEAVING JOINING

Bill Haley Guardian Life Insurance Hanleigh

Bradley Rutt N/A Hub International

Erica Fletcher Avanade Hiscox Global head of diversity and inclusion

Jason Knight BNY Mellon State Street Corporation Global head of insurance Jen Tadin Gallagher Bold Penguin Chief growth officer

NEW POSITION

Sales director

US cannabis specialty leader

Joe Connelly N/A Insurance Industry Charitable Foundation Chair, board of directors, Southeast division

John Przedpelski Innovisk Capital Partners Vindati CEO

Julie Brown IAT Insurance Group CSAA Executive vice president, commercial insurance

Kevin Lasante N/A Merchants Insurance Group Regional vice president, New England

Kim Kovalski Bikelane Solutions MarshBerry Managing director

Mark Hammond N/A Chubb Deputy chief financial officer

Mark Maher N/A Jencap Group President

Quentin McMillan Marsh McLennan AIG Vice president, managing director and head of investor relations

Severin Hegelbach Willis Towers Watson Howden Specialty Divisional director, sustainable energy practice

William Miller KPMG Aspen Chief actuarial officer

Jencap Group names new president

National wholesale intermediary Jencap Group has appointed Mark Maher as its new president. Maher previously served as Jencap’s COO and president of its NIF Group division. In his new role, he will work to develop strategic plans, drive growth initiatives, manage carrier and broker relationships, and achieve an effective cross-selling practice.

“Mark has exceptional knowledge and insight into every facet of our organization and the overall specialty insurance distribution sector,” said Jencap CEO John Jennings. “Mark brings the expertise and leadership capabilities that will be essential as we continue to transform and grow Jencap.”

AIG brings in head of investor relations

AIG has named Quentin McMillan to the role of vice president, managing director and head of investor relations. McMillan joins AIG from Marsh McLennan, where he was senior director of investor relations. Prior to Marsh McLennan, he served as managing director of equity research for P&C insurance at Keefe, Bruyette & Woods and as VP of equity research for P&C insurance at Morgan Stanley.

“Quentin’s industry expertise and reputation in the investment community make him ideally suited to outline AIG’s ongoing strategy to becoming a topperforming company and global insurer of choice,” said AIG CFO Mark Lyons.