Recent Activity Among Insurance Company Startups and Branch Operations
Recent Activity Among Insurance Company Startups and Branch Operations
by Claude Penland
An Investigation of Activity by InsuranceStartups.com Since July, 2010
We’re going to investigate activity since July, 2010 among insurance company startups and branch operations.
Assets Investment Holding and ERGO plan to create a joint venture life insurer in Shandong, China. Lockton plans to establish a brokerage operation in Beijing. XL entered Shanghai and Labuan.
Asia Capital Re put a representative office in South Korea. Canopius Europe launched in Zurich to write European treaty reinsurance business at the outset, while Ironshore Europe was established in Dublin. In the Dubai International Financial Center, ACE formed operations. Allied World Reinsurance U.S. had a new global marine and specialty group. Aliseo Re launched in Barbados. Aspen entered Switzerland. For the Asia Pacific, Aon Benfield pursued a new life reinsurance hub. Hardy Underwriting Asia Pte Ltd was to be formed in Singapore. A Hong Kong reinsurer was said to be in the planning stages. Munich Re launched a Tokyo unit.
In Tunisia, Zitouna Takaful was formed. Great Eastern Takaful Sdn. Bhd. was established in Malaysia. Best Re (L) Ltd and Best Re Family (L) Ltd were launched in Labuan. Abu Dhabi National planned a joint venture takaful firm. In Kenya, Gulf Takaful Company launched, as did FCB Takaful Insurance Agency. African Takaful Reinsurance was formed in Egypt.
While in France, Admiral Group established a direct insurance unit. Rand Merchant Insurance Holdings was to be launched in South Africa. Equinox Global, a credit insurer, formed in the United Kingdom. In Brazil, Austral Seguradora launched to write surety business.
A catastrophe reinsurance fund, Catco Investment Management, was created. Twelve Capital launched as an ILS investment firm.
The insurance brokerage Connelly, Carlisle, Fields & Nichols began operations in Florida. In New York, Mark Edward Partners formed as an insurance brokerage. Benefits & Risk Solutions was established in California.
Milltown Insurance Group formed as a specialty insurance and weather brokerage in Minnesota. Kane L.L.C. launched as a captive insurance management firm in Qatar. R&Q Risk Services Canada launched to provide professional and management liability coverage. R&Q Commercial Risk Services was formed to provide commercial combined, liability, property and package insurance products to the UK. Kurnia (Cambodia) Inc. Co. Ltd. launched.
Aurum Surety was established in Bermuda. Horseshoe Management formed Pendulum Re. Paraline Group Ltd. launched in Bermuda to write reinsurance and primary insurance. UBSURE Bermuda formed as a brokerage firm.
Granite Shield Insurance Exchange launched in Vermont to write general and professional liability. Startup bond insurer BondFactor sought to write New York business. In Texas, Capson Physicians Insurance was formed to write medical malpractice insurance with improved technological tools.
Central Health was said to seek to form a Health Maintenance Organization (HMO) in Texas.
Punjab National Bank sought to form Indian joint venture insurers. Swiss Re was searching for potential Indian partners for joint venture insurance companies. Liberty Mutual formed a joint venture property and casualty insurer in India. China Construction Bank and Taiwan’s China Life were launching a JV life insurance company.
National Securities Clearing Corp. was looking to form an insurance market data service. Gulf Cooperation Council Insurance Companies were to jointly create a software company. TransUnion Vietnam was to be launched for credit reporting and risk management solutions. Awesurance Ad Agency was established for independent insurance agencies. Barrie & Hibbert launched in Japan. Life settlement actuaries and underwriters formed Tertiary Portfolio Advisors. An actuary launched Asset Discovery Associates. Data Application Solutions was formed to service insurance companies, brokerage firms, TPA’s, risk and claims managers.
Insurance and reinsurance startup companies are continually covered at www.InsuranceStartups.com.
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