The acquisition is expected to close during the first half of 2023 pending regulatory approval. "We considered multiple pathways but acquiring Syndicate 1200 emerged as a unique opportunity because it gets us into the international specialty market quickly with an established platform while capitalizing on current market dynamics.". It is home to a famous contemporary art museum and has a notable street art scene. Argo to sell Syndicate 1200 to Westfield for $125mn - Inside P&C Entering text into the input field will update the search result below, Argo Group International Holdings, Ltd. (ARGO), acquiring Lloyd's of London Syndicate 1200. Save my name, email, and website in this browser for the next time I comment. Copyright 2023 by Wells Media Group, Inc. diversifying by entering the specialty insurance busines. Today, 175 years later, as a leading U.S.-based property and casualty insurance company with $8.5 billion in GAAP assets, Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of over 1,000 leading independent agents and brokers. About Westfield. September 9, 2022 New You can now listen to Carrier Management articles! He lost the general election to fellow Republican Christopher Shea Nickell.[8]. We considered multiple pathways but acquiring Syndicate 1200 emerged as a unique opportunity because it gets us into the international specialty market quickly with an established platform while capitalizing on current market dynamics, added Kuhn, who announced Graham Evans as head of international insurance at Westfield Specialty. Robert and Virginia Bauer Family Branch YMCA. Please. Westfield Enters International Specialty Market With Purchase of Argo's Kuhn comments that the newly expanded team will remain methodical, strategic, and focused on profitability as they continue to grow the business. The LPT is expected to improve Argo's regulatory capital position and provide protection against reserve volatility. In 2012, Westerfield challenged District 3 incumbent Democratic Senator Joey Pendleton, Westerfield was unopposed for the May 22, 2012 Republican primary[2] and won the November 6, 2012 general election with 18,457 votes (50.4%) against Pendleton. This acquisition is our first step in establishing a global franchise for Westfield, said Ed Largent, Westfield president and CEO, in a statement. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Wallet Factory, a FinTech services and customer loyalty programs provider that delivers its digital wallet and customer rewards, Jeddah, Kingdom of Saudi Arabia Faithful+Gould, a member of the SNC-Lavalin Group, has been awarded the Project Management, London, United Kingdom Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical company, announces an exclusive licensing agreement with, Sharaf Exchange and Paykii sign strategic partnership for Global Bill Payment Services Sharaf Exchange LLC, and Paykii (Domestic, Westfield Completes Acquisition of Lloyds of London Syndicate 1200. The transaction comes on the heels of a phenomenal year for Westfield Specialty, which wrote nearly $300 million of premium in the U.S. in 2022. Sidley Austin LLP served as legal counsel and Keefe, Bruyette & Woods, A Stifel Company, served as financial advisor to Westfield on this transaction. The company also provides specialty lines of insurance in the U.S. and now in the global specialty market. The transaction and its loss portfolio transfer transaction ("LPT") with Enstar Group on Aug. 8 are a result of Argo's strategic review process. [3] The American Conservative Union gave him a 90% evaluation in 2017. Paris to Vitry-sur-Seine by train. through its operating subsidiaries, argo group offers a comprehensive line of high-quality products and services designed to meet the unique coverage and claims-handling needs of its clients in four business segments. Is this happening to you frequently? Westfield Town Hall 425 East Broad Street Westfield, NJ 07090 Phone: 908-789-4040 Fax: 908-233-3077 Contact Us; Quick Links. We look forward to working with Lloyds and the international market to provide superior service and solutions.. Westfield, a closely held U.S.-based property and casualty insurer, is expanding into the international specialty market by acquiring Lloyd's of London Syndicate 1200 from Argo Group International Holdings (NYSE:ARGO) for ~$125M, it said Thursday. Overview. The Westfield Area YMCA is a member agency of the Westfield United Fund. Our Goal is to provide all eligible children, regardless of race, color, creed . Language links are at the top of the page across from the title. This acquisition demonstrates Westfields commitment to the international specialty market, says Westfield President, CEO and Board Chair Ed Largent. Home [wysi.net] This acquisition demonstrates Westfields commitment to the international specialty market, says Westfield President, CEO and Board Chair Ed Largent. Transaction expected to close in first half of 2023. 8.2/10 Very Good! Campaign website. Lloyd's holds licenses around the world to underwrite property and casualty business with an "A+" S&P financial strength rating. Westfield recently acquired Lloyd's of London Syndicate 1200, establishing the company as a global franchise. In 2019, it had a population of almost 100,000 people. Provides June and Second Quarter 2023 Delivery Update, XPENG Announces Vehicle Delivery Results for June and Second Quarter 2023, eXp Realty Announces Program for Culturally Aligned Independent Teams and Brokerages. 1 Val-de-Marne Contemporary Art Museum (MAC VAL) (Muse MAC VAL T 9 ). Westfield Completes Acquisition of Lloyd's of London Syndicate 1200 . View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005402/en/, Sheila Trauernicht, sheilatrauernicht@westfieldgrp.com, argo group international holdings, ltd. (nasdaqgs: agii) is an international underwriter of specialty insurance and reinsurance products in areas of the property and casualty market. Evans has held leadership roles at Chubb, CNA, AXIS and Sompo International. Last November, Westfield bought the renewal rights of Argos U.S. specialty property business. WESTFIELD CENTER, Ohio-- ( BUSINESS WIRE )-- Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd.. Fire Safety Tips. Dubai Media City, Building 1, 3rd Floor, Office 312 P.O. It's expected to close in H2 2022. Insurance Insider is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730, Book a call with a member of the team to discuss your subscription options, Reinsurers keep cards close on cyber war stance at 1.7 renewals, R&Q to appoint Scopia's Lande as non-executive director, Helvetia to exit coal market as part of new climate strategy, Arklie set to leave Lloyd's as cyber role deemed redundant, Reinsurance capital rebounds $30bn in Q1: Aon, The Week in 90 Seconds: Bermuda Climate Summit;Ukraine insurance pool; Casualty reinsurance, Discover things you shouldn't even know yet. Sidley Austin LLP served as legal counsel and Keefe, Bruyette & Woods, A Stifel Company, served as financial advisor to Westfield on this transaction. This strategic acquisition establishes Westfield as a global franchise, accelerates Westfield SpecialtysSM growth after a strong first 18 months in the U.S. market, and puts the overall Westfield Specialty portfolio in excess of $1 billion in premium. Westfield Specialty, a U.S. property and casualty insurer, has accelerated its "rapid growth" with the acquisition of Lloyd's Syndicate 1200 from Argo Group International Holdings, marking its entry into the international specialty market. 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. Learn more at www.westfieldinsurance.com. Coronavirus Information Center. . Were interested in new opportunities for product expansion and in working with clients and brokers to solve problems and find new solutions, says Kuhn. 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 Insurance Completes Acquisition of Lloyd's Syndicate 1200 Paris to Vitry-sur-Seine - 3 ways to travel via train, line 132 bus February 2023. Westfield Specialty is expected to write $250 million of premium in 2022 during its first full year of operation, Westfield said. Westfield Insurance is the primary subsidiary of Westfield Group. Insurance Insider is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730, Book a call with a member of the team to discuss your subscription options, Editor-in-Chief, Insider Publishing Group, Reinsurers keep cards close on cyber war stance at 1.7 renewals, R&Q to appoint Scopia's Lande as non-executive director, Helvetia to exit coal market as part of new climate strategy, Arklie set to leave Lloyd's as cyber role deemed redundant, Reinsurance capital rebounds $30bn in Q1: Aon, The Week in 90 Seconds: Bermuda Climate Summit;Ukraine insurance pool; Casualty reinsurance, Discover things you shouldn't even know yet. Westfield Expands into International Specialty Insurance Business Sidley Austin LLP served as legal counsel and Keefe, Bruyette & Woods, A Stifel Company, served as financial advisor to Westfield on this transaction. In 2015, Westerfield was the unsuccessful Republican nominee for Attorney General of Kentucky, losing to Democrat Andy Beshear by a margin of 0.2 percent. 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 Lloyds business as a core part of Westfield Specialty. Feb 03, 2023. The acquisition, subject to regulatory approval, is expected to close in H1 2023. September 8, 2022 Email This New You can now listen to Insurance Journal articles! Westfield closes Argo syndicate 1200 acquisition :: Insurance Day Print Bookmark Share Tags: Lloyds London Mergers and Acquisitions Westfield closes Argo syndicate 1200 acquisition Deal is designed to accelerate the growth of Westfield Specialty unit 03 Feb 2023 News John Shutt Jul 9 - Jul 10. Have a tip? 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.. 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. Westerfield serves as a member in several approved caucuses including the Kentucky Sportsmen's Caucus (Member), Western Kentucky Caucus (Member), the Tennessee Valley Authority Caucus (Member), the Pro-Life Caucus (Member), the Aerospace/Aviation Caucus (Member), and the Kentucky Nonprofit Caucus (Member). Westfield closes acquisition of Lloyd's syndicate The company also provides specialty lines of insurance in the U.S. and now in the global specialty market. Our guests praise the breakfast and the comfy rooms in our reviews. Westfield Completes Acquisition of Lloyd's of London Syndicate 1200 Our board is confident in the simplified corporate structure and strong fundamentals of our core U.S. specialty businesses following our recently announced transactions with Westfield and Enstar. Westfield agrees to buy Lloyd's syndicate from Argo The international operation will be part of Westfield Specialty, which currently writes specialty business in the U.S. Sign in to continue reading. Westfield Completes Acquisition of Lloyd's of London Syndicate 1200 AETOSWire distributes your news swiftly across your target audiences to every corner of the world with the latest state-of-the-art technology and innovative solutions that give you the competitive edge you need to get ahead of the competition. Source:. Westfield recently acquired Lloyds of London Syndicate 1200, establishing the company as a global franchise. Kuhn comments that the newly expanded team will remain methodical, strategic, and focused on profitability as they continue to grow the business. Argo Group has agreed to sell its underwriting agency and Lloyd's Syndicate 1200 to Westfield for $125mn, or 1.16x tangible book value as of Q1 2022. Report here. Helpful Links. Westfield Specialty President Jack Kuhn has a wealth of experience leading global, multi-billion-dollar businesses. Westerfield earned his BS in communication from the University of Kentucky in 2003, and his JD from Southern Illinois University Carbondale in 2006. This strategic acquisition establishes Westfield as a global franchise, accelerates Westfield Specialty's SM growth after a . 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 Lloyds business as a core part of Westfield Specialty. He says that the international team is well positioned and will go to market as Westfield Specialty, leveraging the well-respected, 175-year-old Westfield brand and the strength and stability of the Lloyd platform. Whitney H. Westerfield (born November 29, 1980) is an American politician and a Republican member of the Kentucky Senate representing District 3 [1] since January 8, 2013. This strategic acquisition establishes Westfield as a global franchise, accelerates Westfield Specialty's(sm) growth after a strong first 18 months in the U.S. market, and puts the overall Westfield . Westfield Specialty President Jack Kuhn has a wealth of experience leading global, multi-billion-dollar businesses. The meeting wi Equipment trade-in for Dick's Sporting Goods gift cards. Found a factual error? WESTFIELD CENTER, Ohio Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. (NYSE: ARGO). Transaction will simplify corporate structure and drive. On March 30, 2023, Westerfield announced that he will not seek re-election in 2024.[9]. re-elected with nearly 80% of the vote (29,640 to 8,157), Veterans, Military Affairs and Public Protection Committee, Child Welfare Oversight and Advisory Committee, Tobacco Settlement Agreement Fund Oversight Committee, Budget Review Subcommittee on Justice and Judiciary, Commission on Race and Access to Opportunity, Legislative Oversight and Investigations Committee, "Commonwealth of Kentucky May 22, 2012 Official 2012 Primary Election Results", "Commonwealth of Kentucky November 6, 2012 Official 2012 General Election Results", "Andy Beshear prevails for attorney general", "Democratic Attorney General-elect Andy Beshear pledges cooperation", "The State AG report weekly update November 5, 2015", "Nickell Elected to Kentucky Supreme Court", "Senate Judiciary Chair Whitney Westerfield will not seek re-election in 2024", Senate District 3: Senator Whitney Westerfield (R), https://en.wikipedia.org/w/index.php?title=Whitney_Westerfield&oldid=1161171330, Southern Illinois University School of Law alumni, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 21 June 2023, at 02:59. Argo Group Announces Sale of Lloyd's Syndicate 1200 to Westfield 2 MIN Argo to receive total cash proceeds of approximately $125 million. Westfield said it has expanded into the international specialty insurance market by buying Lloyd's Syndicate. US P&C insurer Westfield Specialty acquires of Lloyd's Syndicate 1200 Updated on 06 February 2023, 15:16 America/New_York US P&C insurer Westfield Specialty has announced the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings. Our core values of caring, honesty, respect and responsibility guide everything we do. Westfield brings deep expertise and experience to the international specialty market. AETOSWire, All Rights Reserved. Our programs and facilities continuously strive to meet or exceed CDC and Health Department guidelines. WESTFIELD CENTER, Ohio Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. (NYSE: ARGO). All Westfield Area YMCA facilities have Global Plasma Solutions Needlepoint Bi-Polar Ionization Air Quality Systems with proven effectiveness inactivating the COVID-19 virus: 10 minutes, 84.2%; 15 minutes, 92.6%; 30 minutes, 99.4%. Westfield recently acquired Lloyds of London Syndicate 1200, establishing the company as a global franchise. Copyright 2008-2023 Lloyd's holds licenses around the globe to underwrite property and. Lloyd's Syndicate 1200 - Syndicate Research - Westfield Specialty 1200 Westfield Enters International Specialty Market With Purchase of Argo's Argo Group Announces Sale of Lloyd's Syndicate 1200 to Westfield (989 reviews) "Good stay and conveniently located to metro". Argo to sell Syndicate 1200 to Westfield for $125mn Everyone is welcome at the Y, regardless of age, ability, income, or background. YNDICATE Westfield Specialty Syndicate 1200 A CTIVE UNDERWRITER J Moffatt B ANKERS Barclays Bank Plc 1 Churchill Place London E14 5HP I NVESTMENT MANAGERS Conning Asset Management Ltd 24 Monument Street London EC3R 8AJ A UDITORS Ernst & Young LLP Statutory Auditor 25 Churchill Place . Westfield brings deep expertise and experience to the international specialty market. The board includes its largest investor, hedge fund manager J. Daniel Plants, as of August. This transaction significantly accelerates our strategy to become a leading specialty carrier, Kuhn says. February 2, 2023 - 4:18 pm. The company also provides specialty lines of insurance in the U.S. and now in the global specialty market. Inside P&C is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730, Book a call with a member of the team to discuss your subscription options, WTW hires Sompos Mascaro as hospitality leader, M&A weekly roundup: NFP, Risk Strategies, Inszone and more, Liberty Mutual taps Ironshore exec Johnson as GRS NA field ops & marketing president, Risk Strategies grew 25% in 2022 to $1.2bn, with a $158mn acquired revenue boost, Big I apologizes, Rusbuldt relinquishes post following report of interview with Fox News host, Gain your competitive advantage with Inside P&C. Enjoy free WiFi, breakfast, and a 24-hour front desk. Westfield Completes Acquisition of Lloyds of London Syndicate 1200, Direct Property and Casualty Insurance Carriers, NIO Inc. The transaction comes on the heels of a phenomenal year for Westfield Specialty, which wrote nearly $300 million of premium in the U.S. in 2022. Y staff will continue cleaning high-touch areas and we ask that you remain vigilant about hand washing and wiping down equipment before and after you use it. The deal was first announced in September of last year for a disclosed purchase price of approximately $125 million. US P&C insurer Westfield Specialty acquires of Lloyd's Syndicate 1200 Westfield is a leading U.S.-based property and casualty insurance company with $8.5 billion in GAAP assets, providing commercial and personal property and casualty insurance and commercial and contract surety bonds in the U.S. The transaction represents Westfield Specialty's entrance into the international market after a strong first year in the U.S. market, the company said. Westfield is a leading U.S.-based property and casualty insurance company with $8.5 billion in GAAP assets, providing commercial and personal property and casualty insurance and commercial and contract surety bonds in the U.S. This transaction significantly accelerates our strategy to become a leading specialty carrier, Kuhn says. Westfield Completes Acquisition of Lloyd's of London Syndicate 1200 Health Promotion /QuickLinks.aspx. (BUSINESS WIRE)--Westfield today announces the completion of its acquisition of Lloyd's of London Syndicate 1200 from Argo Group International Holdings Ltd. (NYSE: ARGO). All Westfield Area YMCA facilities have Global Plasma Solutions Needlepoint Bi-Polar Ionization Air Quality Systems with proven effectiveness inactivating the COVID-19 virus: 10 minutes, 84.2%; 15 minutes, 92.6%; 30 minutes, 99.4%. Home. (BUSINESS WIRE)--Westfield today announces the completion of its acquisition of Lloyds of London Syndicate 1200 from Argo Group International Holdings Ltd. (NYSE: ARGO). Westfield said it has expanded into the international specialty insurance market by buying Lloyds Syndicate 1200 from Argo Group International Holdings for about $125 million. Argo Group has agreed to sell its underwriting agency and Lloyd's Syndicate 1200 to Westfield for $125mn, or 1.16x tangible book value as of Q1 2022.