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.
Category Archives: Insurance Carriers
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.
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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.
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.
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
Fortegra Introduces Jon Mikow as VP of Wireless
Fortegra announces the appointment of Jon Mikow as Vice President of Wireless.
Full Release: http://blog.fortegra.com/fortegra-introduces-jon-mikow-as-vp-of-wireless
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
September 13-15, 2017 – 8th Annual Extended Warranty and Service Contract Innovations Event
Connectivity is today’s key success ingredient in service contract & warranty customer care. Hear from Amazon, Microsoft, GM, GE, Electrolux, and AMT Warranty about Customer Care in the New Digital Age and how connectivity is dramatically transforming the Warranty and Service Contract industry. We are proud to announce the 2017 agenda for this highly acclaimed 8th Annual Extended Warranty and Service Contract Innovations event, taking place September 13-15, 2017, at the Renaissance Hotel in Nashville, Tennessee. Use WN300 for a $300 discount. Register today at: http://www.warrantyinnovations.com.
Don’t miss hearing from 40 top industry leaders from multiple key industries in the extended warranty/service contract market. This all new event features ground breaking innovations ranging from sales, marketing, coverage, new technologies to customer experience, risk, legal, and global ventures.
8th Annual Extended Warranty and Service Contract Innovations Event – September 13-15, 2017
Connectivity is today’s key success ingredient in service contract & warranty customer care. Hear from Amazon, Microsoft, GM, GE, Electrolux, and AMT Warranty about Customer Care in the New Digital Age and how connectivity is dramatically transforming the Warranty and Service Contract industry. We are proud to announce the 2017 agenda for this highly acclaimed 8th Annual Extended Warranty and Service Contract Innovations event, taking place September 13-15, 2017, at the Renaissance Hotel in Nashville, Tennessee. Use WN300 for a $300 discount. Register today at: http://www.warrantyinnovations.com.
Don’t miss hearing from 40 top industry leaders from multiple key industries in the extended warranty/service contract market. This all new event features ground breaking innovations ranging from sales, marketing, coverage, new technologies to customer experience, risk, legal, and global ventures.