Markel acquires State National in $919m deal

US-based Markel Corporation has entered into a definitive agreement to acquire State National Companies, a specialty provider of property/casualty insurance operating in two niche markets – programmes services and lender services, for approximately $919 million.

Under the agreement, which has been approved by both companies’ board of directors, Markel will…

General Indemnity Group, LLC, Announces the Acquisition of Surety Support Services, Inc.

BOSTON–(BUSINESS WIRE)–General Indemnity Group, LLC, (“GIG”), a subsidiary of Boston Omaha Corporation (NASDAQ: BOMN) announced today that it acquired Surety Support Services, Inc., of Overland Park, Kansas. Tracing its origins back almost 40 years, Surety Support Services (“SSS”) provides surety-only services to contractors, insurance agents, brokers, and all types…

The Warranty Group Announces Establishment of Specialty Solutions Unit and Promotion of Justin Thomas to Executive Vice President

Chicago, IL – July 13, 2017 – The Warranty Group, a leading global provider of warranty solutions and underwriting services, is pleased to announce the promotion of Justin Thomas to Executive Vice President of the newly established Specialty Solutions group. In this capacity, Thomas is responsible for the overall…

Clear Blue, New U.S. Commercial Insurance Fronting Operation, Opens for Business

A newly-formed commercial insurance fronting provider, Clear Blue Financial Holdings LLC, said it has officially launched with two fully-licensed fronting carriers and will begin servicing clients immediately.

To launch its fronting operation, Puerto Rico-based Clear Blue Financial Holdings last month acquired two specialty insurance companies as shells. It acquired RLI…

National Surety Underwriters secures $8mn i2B Capital funding for reinsurance subsidiary

i2B Capital has closed an $8 million structured term loan to National Surety Underwriters (NSU) to fund the capitalization of a new reinsurance subsidiary and the merger of McCabe and Independent Corporate Underwriters.

NSU – a special-purpose surety reinsurance captive and underwriting agency headquartered in Philadelphia – is the sole…

Federal Court in Nebraska Denies Surety’s Request for Preliminary Injunction Requiring Principal to Post Collateral Security, Finding No Irreparable Harm Absent Proof That Principal Was Insolvent or Secreting Assets

Allied World Specialty Ins. Co. v. Abat Lerew Constr., 2017 U.S. Dist. LEXIS 61794 (D. Neb. Apr. 24, 2017)

Abat Lerew Construction (“ALC”) entered into multiple construction projects which required it to obtain surety bonds guaranteeing its performance. ALC obtained the bonds from Allied World Specialty Insurance Company (“Allied”) and…

W.R. Berkley Corporation launches surety and specialty units in Mexico

W.R. Berkley Corporation has announced the formation of two units focusing on surety and specialty commercial, Berkley International Fianzas México S.A. and Berkley International Seguros México S.A., after receiving authorization to start operating by Mexican regulator Comisión Nacional de Seguros y Fianzas (CNSF).

Berkley International Fianzas México S.A. will focus…

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