Dallas, Texas – January 5, 2018:
StoneEagle is pleased to announce the appointment of Cindy Allen as the company’s new CEO. Cindy will be responsible for driving the company, and its innovative F&I solutions, to the next level, building on the momentum achieved by the StoneEagle team under Bobby Allen’s leadership.
CUNA Mutual Group announces it will expand its MEMBER’S CHOICE® Mechanical Repair Coverage (MRC) by adding a new marketing program, powered by ForeverCar.
Sears will begin selling DieHard auto products through Amazon.
Source: http://www.chicagotribune.com/business/ct-biz-sears-diehard-products-sold-amazon-1215-story.html
Analytics start-up WePredict aims to free up potentially billions in auto industry warranty reserves through a unique analytics solution providing manufacturers and suppliers the opportunity to stabilize and mitigate risks they have in their warranty reserves today. The company recently completed a new funding round led by Munich Re / HSB Ventures. Existing investors Breed Reply and the Development Bank of Wales provided additional funding.
Full Release: http://www.businesswire.com/news/home/20171031005454/en/Start-up-WePredict-Aims-Free-Billions-Auto-Industry
AmTrust Financial Services and Madison Dearborn Partners Enter Into Strategic Transaction for a Portion of AmTrust’s U.S. Fee Businesses with a Total Enterprise Value of $1.15 billion.
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A.M. Best Places Credit Ratings of AmTrust Financial Services, Inc. and Its Subsidiaries Under Review With Negative Implications.
Full Release: http://www.businesswire.com/news/home/20171106006579/en/A.M.-Places-Credit-Ratings-AmTrust-Financial-Services
Schaumburg, IL – American Auto Guardian, Inc. (“AAGI”) is pleased to announce that Craig Robinson has joined the company as President. Tim Brugh will move into the CEO position, and lead AAGI’s continued growth in all aspects of the automobile industry.
Release: https://www.aagi.com/media/17143222/craig-robinson-named-aagi-president-november-2017.pdf
EasyCare announced the launch of RV Appearance Protection, a multifaceted benefit designed to protect interiors and exteriors, of new and used recreational vehicles, from unexpected costs due to environmental damage like weather-induced fading, stains and odors.
Great article from David Sulfridge on General Motors path back into the Vehicle Service Contract and Protection Plan business.
Full Article: https://www.linkedin.com/pulse/gms-new-protection-plan-business-david-sulfridge-are-arc/
PCMI’s administration software, Policy Claim and Reporting Solutions (PCRS), automates the full lifecycle of all aftermarket products.
Full Article: http://www.pcmicorp.com/2017/10/pcmi-20-automotive-technology-cioreview/
The transaction values The Warranty Group at $1.9 billion in equity value, or $2.5 billion of enterprise value, including their existing debt.
The deal is expected to yield $60m in pre-tax operating synergies. View Assurant’s presentation on the deal breakdown: http://s1.q4cdn.com/131015182/files/doc_presentations/2017/Assurant’s-Acquisition-of-The-Warranty-Group-Presentation.pdf