A release mentioned that the deal puts the overall Westfield Specialty portfolio in excess of $1 billion in premium. Kuhn also indicated that he expects a seamless transition, and that the international team is well positioned, as it leverages the 175-year-old Westfield brand and the strength of the Lloyds platform. Top Insurer Groups Worldwide, Cyber insurance broker INSUREtrust introduced product Cyber Pre-Check, Carbon insurtech Kita and OxCarbon signed a Memorandum of Understanding, Insurtech Root rebuffed a takeover bid from Embedded Insurance, Insured loss from Severe Convective Storm outbreak will be $5.5 bn, Insurtech Arbol unveiled blockchain parametric (re)insurance platform dRe, Insurtech Federato raised $25 mn in Series B, Data observability insurtech Telmai raised $5.5 mn in seed funding, Spot Bitcoin ETF launch are inadequate SEC. Westfield is a leading U.S.-based property and casualty insurance company with $8.5 billion in GAAP assets, providing commercial and personal property and casualty insurance and commercial and contract surety bonds in the U.S. Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Thank you! Today, as one of the nations leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to making a positive difference in our customers lives. 700 W. St. Clair Solid pension plan. Westfield Specialty has named industry veteran Graham Evans to lead the integration of Lloyd's Syndicate 1200, which the US carrier is acquiring from Argo Group for $125mn. Plants, who runs Voce Capital Management, serves on the strategic review and human resources committees. Chris DeZinno , Jairo Ibarra September 13, 2022 Westfield Specialty president Jack Kuhn said the purchase of Argo's Syndicate 1200 gives the carrier "an accelerated entry into the international marketplace," allowing Argo to redeploy capital as it sees fit. The deal was first announced in September of last year for a disclosed purchase price of approximately $125 million. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Westfield Specialty is committed to be a leading specialty carrier, leveraging the financial strength of our 175 years as a leading U.S. property and casualty (P&C) insurance company with the the well-established Lloyd's of London platform. The Syndicate 1200 transaction follows a strong year, during which Westfield Specialty wrote nearly $300 million in premium in the U.S. Kuhn says that the newly expanded team will remain methodical, strategic and focused o profitability, as it continues to drive growth. The mix of primary versus excess business is indicative of a stable portfolio that limits volatility. Syndicate 1200 was estimated to have a book of business sized at $650 million, focused on numerous lines of specialty insurance. Westfield Family Physicians, PC is recognized by the NCQA as a Patient-Centered Medical Home. Westfield Specialty Insurance | LinkedIn These changes mean businesses are facing new types of liability. Westfield ranked as the eighth-largest privately held company in Northeast Ohio, according to the latest Crain's list, with approximately $2.1 billion in total revenue in 2020. Find the perfect market for your risk. Transaction will simplify corporate structure and drive greater efficiencies with increased focus on core U.S. businesses. Are you retail Agent Looking for a Quote? For more information about Westfield Specialty solutions, visit westfieldinsurance.com. Stay up-to-date on all things insurance. At Westfield, the Syndicate 1200 business will be led by industry veteran Graham Evans, who recently joined Westfield Specialty as an executive vice president. The Argo deal, reported by this publication last week, was announced earlier on Thursday , ending a roughly three-year hiatus for significant balance sheet M&A at Lloyd . It cites Westfield Specialty President Jack Kuhns leadership of prominent, multi-billion-dollar businesses. Westfield said Evans will develop Westfield Specialtys international strategy and will lead the integration of Lloyds Syndicate 1200. Mike Bradford September 08, 2022 Reprints Share Lloyd's of London Mergers & Acquisitions P/C Insurers Westfield Insurance Co. said Thursday it will enter the international specialty insurance. Internet Explorer presents a security risk. Connecting People with Insurance Problems to People with Insurance Solutions, Westfieldtoday announces the completion of its acquisition ofLloyds of London Syndicate 1200 from Argo Group International Holdings Ltd. Westfield says the completion of the acquisition accelerates Westfield Specialtys entry into international markets. Westfield reports that it brings deep expertise and experience e to the international specialty market. We look forward to working with Lloyds and the international market to provide superior service and solutions.. We will continue to add talent to these teams and look for other opportunities in the marketplace to provide underwriting expertise. WESTFIELD CENTER, Ohio Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. (NYSE: ARGO). Sidley Austin LLP served as legal counsel and Keefe, Bruyette & Woods, A Stifel Company, served as financial advisor to Westfield on this transaction. Westfield brings deep expertise and experience to the international specialty market. The Syndicate 1200 team has created a successful business, and we are ready to build on their momentum as part of Westfield Specialty, added Graham Evans. We are excited for the opportunity to onboard additional underwriting talent and expertise while gaining a meaningful footprint into shared and layered property.. Insuramore has updated its 2023 global ranking of insurer, Essent Group purchases the title insurance business of Finance of Americas Incenter for $100 mn, How Insurers and InsurTechs Can Transform Insurance Platforms? The Syndicate 1200 team has created a successful business, and we are ready to build on their momentum as part of Westfield specialty, comments Evans. The deal was first announced in September of last year for a disclosed purchase price of approximately $125 million. The Lloyds of London market offers long-term growth opportunities and were excited to offer brokers, agents, and clients greater access to Westfields expertise and product offerings.. Ex-Hiscox specialty head England to join Westfield Specialty Westfield Specialty, a US property and casualty insurer, has announced the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings. Westfield completes acquisition of Lloyd's Syndicate 1200 from Argo Our board is confident in the simplified corporate structure and strong fundamentals of our core U.S. specialty businesses following our recently announced transactions with Westfield and Enstar. The firm says Kuhn will work with Graham Evans, EVP and head of International Insurance, to build on the existing strength of Syndicate 1200 and create an underwriting-focused Lloyds business as a core part of Westfield Specialty. The acquisition demonstrates Westfields commitment to the international specialty market, comments Ed Largent, President, CEO and Chair of the Board, Westfield. Legislator of the Year, 2014 Prevent Child Abuse KentuckyLegislator of the Year, 2014 Kentucky Psychological AssociationDistinguished Public Service Award, 2015, 2017, 2018, 2019 Kentucky Non-Profit NetworkAdvocacy Partner, 2015 Kentucky League of Cities Friend of Cities Award, 2017 Kentucky League of Cities Friend of Cities Award, 2018 Kentucky League of Cities Friend of Cities Award, 2020 Kentucky League of Cities Friend of Cities Award, National Co-Chair Law, Criminal Justice and Public Safety Committee, NCSL (January 2021 to present), 2020 Thurgood Marshall Social Justice Award, Omicron Nu Lambda Education Foundation, 2021 Kentucky League of Cities Friend of Cities Award, Kentucky League of Cities Friend of Cities, Law, Criminal Justice and Public Safety Committee, NCSL. Westfield to enter international specialty market with Lloyd's Get FREE access now! From traditional insurance jobs like underwriting and claims, to IT, marketing or hospitality, the opportunities are bountiful at Westfield. The acquisition will help Westfield . Westfield Insurance Completes Acquisition of Lloyd's Syndicate 1200 Topics 1y I'm excited to share that I've joined Westfield Specialty as VP, Head of Enterprise Applications! Motivated by Gods love for us, and sharing His view of all people as His unique and precious creation, Westfield Family Physicians will strive to use our talents, abilities and resources to meet the medical needs of those entrusted to our care. Westfield Specialty announces a tentative agreement to acquire the renewal rights of Argo Groups US Property, Shared and Layered property business. The international specialty market fits well with our growth ambitions and the opportunity with Lloyds Syndicate 1200 jump-starts our entry into this market.. The deal was first announced in September 2022. We considered multiple pathways but acquiring Syndicate 1200 emerged as a unique opportunity because it gets us into the international specialty market quickly with an established platform while capitalizing on current market dynamics, added Kuhn, who announced Graham Evans as head of international insurance at Westfield Specialty. Westfield first announced its plan to acquire the Lloyds Syndicate last September. This strategic acquisition establishes Westfield as a global franchise, accelerates Westfield Specialty's(sm) growth after a strong first 18 months in the U.S. market, and puts the overall Westfield . This transaction includes Argo's . To that end, Westfield in September announced its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings. 2 MIN. Home | Westfield Family Physicians | New York Whitney Westerfield get your career off to a great start. As we look ahead, we continue to consider a range of options to maximize shareholder value through the ongoing strategic review process.. Your professional development. Kuhn comments that the newly expanded team will remain methodical, strategic, and focused on profitability as they continue to grow the business. The Westfield Specialty team is focused on anticipating and addressing these needs. Argo Group selling Lloyd's of London Syndicate 1200 to Westfield for It also brings Westfields well-established financial strength to Lloyds of London with the opportunity to bring new clients, capabilities, and even stronger relationships to brokers and clients across the globe. Call us MonFri, 8a8p EST. Kuhn expects a seamless transition. This transaction significantly accelerates our strategy to become a leading specialty carrier, Kuhn says. Andy Hendrix, EVP of E&S Property at Westfield Specialty commented, The acquisition of the Argo portfolio aligns with our strategic approach of short line deployments within target occupancy classes. LOG IN > Westfield Enters International Specialty Market With Purchase of Argo's Cleveland, OH 44113 "We considered multiple pathways but acquiring Syndicate 1200 emerged as a unique opportunity because it gets us into the international specialty market quickly with an established platform while capitalizing on current market dynamics.". About Westfield As a part of the transaction, Argo Group will continue to honor and service all policies currently in force. Learn more about Westfield at www.westfieldinsurance.com. The U.S. life insurance sector outlook remains neutral, and issuers are well positioned to withstand commercial real estate challenges and expected asset deterioration, Aons work with Columbia University has revealed that under selected scenarios, U.S. hurricane losses would increase by at least 10% over 20 years, At least 1,5M Medicaid enrollees have been disenrolled, based on the most current data from 25 states and the District of Columbia, Global Ranking of insurance providers worldwide and largest underwriters in the cyber insurance sector. Learn more about Westfield at www.westfieldinsurance.com. 138 East Main StreetP.O. Our interns gain real-world experience - and 96 percent said they would work at Westfield after graduation. That deal, valued at about $125 million, is subject to regulatory approval but is slated to close in the first . Westfield names former Sompo exec Evans to lead Syndicate 1200 integration Westfield Completes Acquisition of Lloyd's of London Syndicate 1200 Kuhn adds that he expects a seamless transition and says the international team is well-positioned to go to market as Westfield Specialty, leveraging the well-respected 175-year-old Westfield brand and the strength and stability of the Lloyds platform. WESTFIELD CENTER, Ohio-- ( BUSINESS WIRE )--Westfield, a super-regional property and casualty insurance company with a 173-year history, is entering the specialty insurance business with the. At Westfield, we are forging bonds together, building a community, making a difference and growing with each other. New Markets The international team is well-positioned to leverage the respected 175-year-old Westfield brand alongside the strength and stability of the Lloyd platform. Westfield Expands into International Specialty Insurance Business This demands bold thinking and creative solutions to these new exposures. Motivated by God's love for us, and sharing His view of all people as His unique and precious creation, Westfield Family Physicians will strive to use our talents, abilities and resources to meet the medical needs of those entrusted to our care. Get the mentorship and guidance you want in your first job out of school. Box 10, Westfield, NY 14787Phone: (716) 326-4678Fax: (716) 326-4641, 115 East Main StreetP.O. US P&C insurer Westfield Specialty acquires of Lloyd's Syndicate 1200 Core Transformation Missteps, P&C Insurance Claims Landscape Becoming Increasingly Challenge for Insurers, Cyber Insurance. Or see subscription options for full access to Crain's Cleveland. Westfield Specialty is committed to be a leading specialty carrier, leveraging the financial strength of our 175 years as a leading U.S. property and casualty (P&C) insurance company with the the. WESTFIELD CENTER, Ohio (February 2, 2023) Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. (NYSE: ARGO). We invest in your future success/growth. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803. Argo Group Announces Sale of Lloyd's Syndicate 1200 to Westfield We invest in your future success/growth. Westfield Specialty is proud to announce the following appointments to their underwriting teams: Were motivated to bring Westfields stellar brand, professionalism and commitment to client service to the specialty market, along with a solutions-based approach paired with best-in-class underwriting talent, said Jack Kuhn, President of Westfield Specialty. Ed Largent, President, CEO and Chair of the Board, Westfield. Westfield Specialty can handle risks that aren't all that common-- the hard-to-place property and casualty risks. Comprehensive health care. Westfield Specialty Announces Executive Team and Lines of Business Looney's hiring comes amid efforts to accelerate the growth of the Westfield Specialty business. Copyright 2023 KM Business Information US, Inc, first announced its plan to acquire the Lloyds Syndicate last September, Westfield to enter international specialty market with Lloyd's syndicate buy, Westfield Specialty names head of cyber/PL claims, 'Insurance is in my blood' UIP CEO on taking the reins of the family business, "My risk awareness skills are perfectly suited for racing" - INSTANDA CEO, Big "I" apologizes for remarks during CEO's talk with Fox News host, Canopius launches cyber incident response team, Westfield closes acquisition of Lloyd's syndicate. The initial lines of business include: E&S Excess Casualty, E&S Property, Commercial Management Liability, Financial Institutions and Westfield Pro, which includes Cyber and Professional Liability. Please tell us what you liked about it. Photo credit: Bon Adrien.). Were interested in new opportunities for product expansion and in working with clients and brokers to solve problems and find new solutions, stated Jack Kuhn. Feb 03, 2023. The company release also mentioned that Westfield Specialty president Jack Kuhn and executive vice president and head of international insurance Graham Evans will together build on the existing strength of Syndicate 1200 and create an underwriting-focused, market-leading Lloyds business as a core part of Westfield Specialty. WESTFIELD CENTER, Ohio--(BUSINESS WIRE)--Westfield Specialty, a subsidiary of Westfield Insurance, today announced an agreement to acquire the renewal rights of Argo Group's US Property, Shared . Westfield hires CFO for its growing specialty insurance division Source: Westfield | Published on February 3, 2023. Westfield Insurance(Westfield Center, Ohio), a U.S.-based property/casualty insurer with $8.5 billion in GAAP assets, hasannounced its completion of the acquisition of Lloyds of London Syndicate 1200from Argo Group International Holdings Ltd. (Pembroke, Bermuda). Each month, the Cavs and Westfield will feature a new Small Business Spotlight winner. Hadie Bartholomew Westfield Specialty Launches Environmental Liability - Yahoo Finance We look forward to working with Lloyds and the international market to provide superior service and solutions., Westfield Insurance Adopts Verisk/Duck Creek Integration for Commercial Lines Underwriting. The board includes its largest investor, hedge fund manager J. Daniel Plants, as of August. This strategic acquisition establishes Westfield as a global franchise . Retirement plans. Lloyds Confirms Targets for Electronic Placement Mandate, Westfield Expands into International Specialty Insurance Business, Westfield Unveils MissionSafe Safe Driving Rewards Program, Westfield Enters Specialty Insurance Business, Beazleys Smart Tracker to Transition into a Full Market-Facing Syndicate. Click below to see everything we have to offer. Westfield Specialty is planning a launch into the London D&O market through Syndicate 1200 and has hired Mark Fellows from Aviva to lead the buildout in the class, this publication can reveal. Specialty insurer Argo Group International Holdings has agreed to sell the renewal rights of its U.S. specialty property business to Westfield Insurance of Ohio. The company's president, Jack Kuhn, said that $125mn transaction was a "win-win-win" for Lloyd's, Argo and . Search by coverage or keyword and region and start getting quotes immediately. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. Evans has held leadership roles at Chubb, CNA, AXIS and Sompo International. Meet Jonathan Gotschall from Pok Fresh with locations in Cuyahoga Falls and Highland Heights . This transaction significantly accelerates our strategy to become a leading specialty carrier, says Kuhn. 216-522-1383, JumpStart embarks on national search for its next CEO, Unison Risk Advisors adds NSI Insurance to its family of companies, Jobbers Automotive of Valley View is acquired by Resilience-backed DealerShop, Sponsored Content: Find the right business loan and banking partner, Waterwood Estate makeover will open up one of Ohio's most unusual lakefront properties, Park Synagogue in Cleveland Heights wins $10 million in state tax credits for historic preservation, The fun is not over office-wise at FIT Technologies, Akron baseball fans ready to go bananas at Canal Park, Cleveland Museum of Art to take over operations of Transformer Station. Sign up for our free newsletter. Hadie Bartholomew, hadiebartholomew@westfieldgrp.com. Whitney is a lifelong resident of Hopkinsville, in Christian County, Kentucky, and presently is an attorney with the Fletcher Law Firm in Hopkinsville after serving over five years as an Assistant Commonwealths Attorney. The transaction, valued at about $125 million, is subject to regulatory approval but is slated to close in the first half of 2023. Westfield said Syndicate 1200 has an estimated $650 million book of business, which is focused on various lines of specialty insurance. Syndicate 1200 sale reassures Lloyd's, serves Westfield and Argo This acquisition demonstrates Westfields commitment to the international specialty market, said Westfield board chair, president and CEO Ed Largent. Billing questions? Westfield Expands Into International Specialty Insurance Business With Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. hadiebartholomew@westfieldgrp.com, Internet Explorer presents a security risk. Sign up for free email news alerts and stay connected to important business news straight to your inbox. For the convenience of our patients, we provide very useful 24/7 access to information from your chart through a patient portal. Kuhn and Evans have a long-established professional relationship spanning more than 20 years in the global specialty market and are excited about the new opportunity.
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