For more information about Westfield Specialty solutions, visit westfieldinsurance.com. Anthony R. ODonnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. At Westfield, we are forging bonds together, building a community, making a difference and growing with each other. Feb 03, 2023. This demands bold thinking and creative solutions to these new exposures. Please tell us what you liked about it. Westfield Insurance to Buy Argo's U.S. Specialty Property Renewal Rights Kuhn expects a seamless transition. "Like Lloyd's, Westfield has a long history approaching 175 years in business and we couldn't be more excited about this new chapter and working with the Syndicate 1200 team.". Suite 310 To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Dan Wadley, Executive Vice President, Head of Professional Lines, Jeff Kulikowski, Senior Vice President, Westfield Pro, Dennis OConnell, Vice President, Professional Lines, Christine Dickenson, Assistant Vice President, Fred Cooper, Executive Vice President, Head of Financial Lines, Ray Ash, Senior Vice President, Head of Management Liability, Ryan Canning, Senior Vice President, Management Liability East Regional Leader. Billing questions? Westfield Specialty announces a tentative agreement to acquire the renewal rights of Argo Groups US Property, Shared and Layered property business. This strategic acquisition establishes Westfield as a global franchise, accelerates Westfield Specialty'sSM growth after a strong first 18 months in the U.S. market, and puts the overall Westfield Specialty . About Westfield This transaction significantly accelerates our strategy to become a leading specialty carrier, Kuhn says. Cleveland, OH 44113 Mike Bradford September 08, 2022 Reprints Share Lloyd's of London Mergers & Acquisitions P/C Insurers Westfield Insurance Co. said Thursday it will enter the international specialty insurance. Thank you! Photo credit: Bon Adrien.). The Lloyds of London market offers long-term growth opportunities and were excited to offer brokers, agents, and clients greater access to Westfields expertise and product offerings.. The company release also mentioned that Westfield Specialty president Jack Kuhn and executive vice president and head of international insurance Graham Evans will together build on the existing strength of Syndicate 1200 and create an underwriting-focused, market-leading Lloyds business as a core part of Westfield Specialty. Westfield Specialty President and industry veteran Jack Kuhn has a proven track record of success leading global, multi-billion-dollar specialty businesses and emphasized Westfield's. Westfield Specialty can handle risks that aren't all that common-- the hard-to-place property and casualty risks. October 04, 2021 10:05 AM Eastern Daylight Time WESTFIELD CENTER, Ohio-- ( BUSINESS WIRE )--Westfield Specialty is announcing the experts joining its executive underwriting team and the. See our new hiring and onboarding process in response to COVID-19. Today, as one of the nations leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to making a positive difference in our customers lives. Solid pension plan. "We've had our sights set on the international specialty market since launching our specialty business a year ago, so this is Westfield executing on our original strategy," said Westfield Specialty president Jack Kuhn in a statement. Our interns gain real-world experience - and 96 percent said they would work at Westfield after graduation. We look forward to working with Lloyds and the international market to provide superior service and solutions., Westfield Insurance Adopts Verisk/Duck Creek Integration for Commercial Lines Underwriting. Westfield Specialty, a US property and casualty insurer, has announced the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings. We are excited to open our doors to our broker partners and provide fresh capacity into the market through the trusted, talented underwriters we have added over the past few weeks, Hendrix added. Westfield ranked as the eighth-largest privately held company in Northeast Ohio, according to the latest Crain's list, with approximately $2.1 billion in total revenue in 2020. our service mission is this. WESTFIELD CENTER, Ohio (February 2, 2023) Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. (NYSE: ARGO). 2013 KASAPLegislative Champion for Justice, 2013 Lexington FOP Appreciation Award - Bryan Durman Act, 2013 Henry Toll Fellow,Council of State Governments, 2014 Kentucky County Attorney Assoc. Meet Jonathan Gotschall from Pok Fresh with locations in Cuyahoga Falls and Highland Heights . Lloyds Confirms Targets for Electronic Placement Mandate, Westfield Expands into International Specialty Insurance Business, Westfield Unveils MissionSafe Safe Driving Rewards Program, Westfield Enters Specialty Insurance Business, Beazleys Smart Tracker to Transition into a Full Market-Facing Syndicate. (Interior of Lloyds of London. These changes mean businesses are facing new types of liability. We have hired an elite team that offers some of the industrys deepest underwriting experience and can tackle the most complex and specialized risks. About Westfield The initial lines of business include: E&S Excess Casualty, E&S Property, Commercial Management Liability, Financial Institutions and Westfield Pro, which includes Cyber and Professional Liability. Connecting People with Insurance Problems to People with Insurance Solutions, Westfieldtoday announces the completion of its acquisition ofLloyds of London Syndicate 1200 from Argo Group International Holdings Ltd. Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. It also brings the companys well-established financial strength to Lloyds of London with the opportunity to bring new clients, capabilities and even stronger relationships to brokers and clients across the globe, the company statement says. This transaction significantly accelerates our strategy to become a leading specialty carrier, says Kuhn. New Guardrails on Fla. 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Westfield Completes Acquisition of Lloyd's of London Syndicate 1200 The deal was first announced in September of last year for a disclosed purchase price of approximately $125 million. The Argo deal, reported by this publication last week, was announced earlier on Thursday , ending a roughly three-year hiatus for significant balance sheet M&A at Lloyd . Argo to receive total cash proceeds of approximately $125 million. Westfield Specialty Announces Executive Team and Lines of Business Whitney and his wife, Amanda, have one daughter, with another child on the way, and the four attend First Baptist Church in Hopkinsville. Transaction will simplify corporate structure and drive greater efficiencies with increased focus on core U.S. businesses. Westfield to enter international specialty market with Lloyd's The completion of this transaction accelerates Westfield Specialtys entry into international markets. For 40 years, Crains Cleveland Business has been the trusted source for business news and information for Northeast Ohios top executives and business owners. This acquisition demonstrates Westfields commitment to the international specialty market, says Westfield President, CEO and Board Chair Ed Largent. Westfield Completes Acquisition of Lloyd's of London Syndicate 1200. It also brings Westfields well-established financial strength to Lloyds of London with the opportunity to bring new clients, capabilities, and even stronger relationships to brokers and clients across the globe. Westfield breaks into international specialty insurance market with % of people found this article valuable. This acquisition is our first step in establishing a global franchise for Westfield, said Ed Largent, Westfield president and CEO, in a statement. The acquisition is expected to close during the first half of 2023 pending regulatory approval. A release mentioned that the deal puts the overall Westfield Specialty portfolio in excess of $1 billion in premium. Westfield Insurance Westfield Specialty is expected to write $250 million of premium in 2022 during its first full year of operation, Westfield said. WESTFIELD CENTER, Ohio-- ( BUSINESS WIRE )--Successfully . Competitive salaries. Learn more about Westfield at www.westfieldinsurance.com. That deal, valued at about $125 million, is subject to regulatory approval but is slated to close in the first . Westfield Specialty acquires Argo's Lloyd's Syndicate 1200 in $125m Lloyd's. Kuhn comments that the newly expanded team will remain methodical, strategic, and focused on profitability as they continue to grow the business. The Syndicate 1200 team has created a successful business, and we are ready to build on their momentum as part of Westfield Specialty, says Evans. The acquisition accelerates Westfield Specialtys entry into international markets, with the opportunity to bring new clients, capabilities and even stronger relationships to brokers and clients globally. Sign up for free email news alerts and stay connected to important business news straight to your inbox. Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Westfield Specialty is proud to announce the following appointments to their underwriting teams: Were motivated to bring Westfields stellar brand, professionalism and commitment to client service to the specialty market, along with a solutions-based approach paired with best-in-class underwriting talent, said Jack Kuhn, President of Westfield Specialty. Specialty Insurance | Westfield Insurance Or see subscription options for full access to Crain's Cleveland. The terms of this transaction were not disclosed. Chris DeZinno , Jairo Ibarra September 13, 2022 Westfield Specialty president Jack Kuhn said the purchase of Argo's Syndicate 1200 gives the carrier "an accelerated entry into the international marketplace," allowing Argo to redeploy capital as it sees fit. Motivated by Gods love for us, and sharing His view of all people as His unique and precious creation, Westfield Family Physicians will strive to use our talents, abilities and resources to meet the medical needs of those entrusted to our care. Westfield Expands Into International Specialty Insurance Business. Evans has held leadership roles at Chubb, CNA, AXIS and Sompo International. Syndicate 1200 sale reassures Lloyd's, serves Westfield and Argo The acquisition demonstrates Westfields commitment to the international specialty market, comments Ed Largent, President, CEO and Chair of the Board, Westfield. Westfield Enters International Specialty Market With Purchase of Argo's Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Westfield Insurance (Westfield Center, Ohio), a U.S.-based property/casualty insurer with $8.5 billion in GAAP assets, has announced its completion of the acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. (Pembroke, Bermuda). Westfield names former Sompo exec Evans to lead Syndicate 1200 integration Insuramore has updated its 2023 global ranking of insurer, Essent Group purchases the title insurance business of Finance of Americas Incenter for $100 mn, How Insurers and InsurTechs Can Transform Insurance Platforms? Westfield Specialty Insurance | LinkedIn Call us MonFri, 8a8p EST. Are you retail Agent Looking for a Quote? Westfield Specialty (International) Camomile Court, 23 Camomile Street, London, England, EC3A 7LL Find the perfect market for your risk. Please tell us what we can do to improve this article. Kuhn adds that he expects a seamless transition and says the international team is well-positioned to go to market as Westfield Specialty, leveraging the well-respected 175-year-old Westfield brand and the strength and stability of the Lloyds platform. Looney's hiring comes amid efforts to accelerate the growth of the Westfield Specialty business. Goldman Sachs & Co. LLC served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Argo. "The international specialty market fits well with our growth ambitions and the opportunity with Lloyd's Syndicate 1200 jump-starts our entry into this market.". 700 W. St. Clair Ex-Hiscox specialty head England to join Westfield Specialty Register for Free Already A Member? Whitney Westerfield, a former prosecutor, serves as Chairman of the Senate Judiciary Committee, and has gained national recognition for his advocacy and refo Coverage for specialized risks requires creativity, and our team of experts have the knowledge and know-how that only comes from deep expertise. The Westfield Specialty team is focused on anticipating and addressing these needs. 8th September 2022 - Author: Luke Gallin. Together with Graham Evans, Westfield Specialty Executive Vice President and Head of International Insurance, they will build on the existing strength of Syndicate 1200 and create an underwriting-focused, market-leading Lloyd's business as a core part of Westfield Specialty. As a part of the transaction, Argo Group will continue to honor and service all policies currently in force.
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