Category Archives: Insurance Carriers

WCM 2018 – Warranty And Service Contract Management For Innovation And Growth

14th Annual WCM Conference

When
Tuesday, March 6, 2018 – Thursday, March 8, 2018
8:00 AM – 5:00 PM, Pacific Time

Where
Hyatt Regency Mission Bay Spa & Marina
1441 Quivira Road
San Diego, California 92109

The theme of the 14th annual conference is “Warranty And Service Contract Management For Innovation And Growth” which addresses how effective warranty and service contract management has enabled companies to develop their competitive edge, manage risk and increase cost savings, innovate and grow.

The WCM 2018 event offers a broad range of presentations with attendees able to choose from up to 3 parallel tracks with over 50 speakers spread over 20 separate sessions.

Complete Details: http://www.cvent.com/events/warranty-chain-management-conference-2018/event-summary-b8df502cfa2c43afae28cb637dc7b5e2.aspx?i=dcb27c6a-7dee-477b-8b2b-14a698b5a10d

Assurant and The Warranty Group Amend Deal Structure

Under the revised terms, Assurant, Inc. will acquire TWG Holdings Limited and its subsidiaries, and remain a Delaware corporation. This change follows recently enacted U.S. tax legislation and allows Assurant to simplify the overall deal structure and optimize the transaction financing mix.

Release:  https://www.assurant.com/NewsRoom/AllNews/NewsReleases/2018/January/assurant-and-the-warranty-group-amend-deal-structure

Start-up WePredict Aims to Free up Billions in Auto Industry Warranty Reserves Through Unique Analytics Solution

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

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.

Full Release:  https://globenewswire.com/news-release/2017/11/06/1175411/0/en/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-billio.html

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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

 

Assurant to Acquire The Warranty Group in Transaction Valued at $2.5 Billion

The transaction values The Warranty Group at $1.9 billion in equity value, or $2.5 billion of enterprise value, including their existing debt.

Full Release: https://www.assurant.com/NewsRoom/AllNews/NewsReleases/2017/October/assurant-to-acquire-the-warranty-group-in-transaction-valued-at-$2.5-billion

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

Five Major Trends Surfacing in the U.S. Consumer Service Contract Industry

Warranty Week estimates the U.S. service contract industry generated $40 billion in revenue in 2016 with $17 billion from vehicle service contracts and $23 billion from all other products and devices. Personal Safeguards Group estimates U.S. consumers spent approximately $33.4 billion on new and used vehicle service contracts (at retail prices) in 2016.  The numbers are hard to pin down, in part, because of the different ways contracts are classified and revenues reported. Sellers report revenue from retail sales whereas administrators report revenue from wholesale sales, and insurers report gross written premium. Warranty Week attributes slightly more than half the total volume to ten major players and the balance spread among 140 administrators and 33 admitted insurance companies. Any way you measure it, it’s a big industry, and getting bigger.

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Starr Companies Appoints Matthew Taylor as Vice President of Extended Warranty

Starr Companies today announced the appointment of Matthew Taylor as vice president of extended warranty. He will focus on expanding Starr’s presence in consumer warranty products.

Full Release:  http://www.businesswire.com/news/home/20170925005140/en/Starr-Companies-Appoints-Matthew-Taylor-Vice-President

SouthwestRe, DAC Sold to Canada’s Largest Publicly Traded Company

One of the largest life and health insurance companies in Canada has signed an agreement to acquire shares of third-party administrator SouthwestRe and its insurance arm, Dealers Assurance Co. (DAC), for $135 million.

Source: SouthwestRe, DAC Sold to Canada’s Largest Publicly Trade Company