high net worth insurance market News

Richemont Builds Digital Platform to Help Police Fight Watch, Jewelry Theft

Richemont is building a digital platform to help police forces worldwide fight theft of luxury watches and jewelry. The platform is open to the entire luxury industry and owners can register their collections using the brand and serial numbers, the …

UK Insurer Aviva Builds Private Client Business With Azur Acquisition

UK Insurer Aviva has agreed to sign a binding agreement with the specialist managing general agent Azur Underwriting Ltd., to acquire its high-net-worth personal lines business in the UK and Ireland. Financial details of the transaction, which will be funded …

Howden to Acquire UK-Based SPF Private Clients

Howden, the London-based international insurance broker, announced the signing of the acquisition of SPF Private Clients (SPF), subject to regulatory approval. Financial details of the deal were not disclosed. SPF was formed in 2011 after a management buyout and rebrand …

High Net Worth — with a Technological Twist; Munich Re’s Groves, John & Westrup Expands into Private Client Sector

Groves, John & Westrup Ltd. has been a coverholder for Munich Re’s Lloyd’s syndicate for decades, writing marine, pleasure boat and private yacht insurance. This year, the company branched out into the high net worth (HNW) sector, trading under the …

NFP Acquires Toronto-Based EdgeHill Insurance Brokers

NFP, a New York-based insurance broker and consultant, announced the acquisition of EdgeHill Insurance Brokers Ltd., in a transaction that closed on Dec. 16, 2020. Financial details of the acquisition were not disclosed. EdgeHill, a P/C brokerage firm based in …

HDI Global Specialty Enters German Fine Art, High Net Worth Market with Hire from AXA

HDI Global Specialty SE is entering the German Fine Art and high net worth insurance market with the appointment of Dr. Alexander Wiebe from AXA. He joins the specialty lines insurer as head of Fine Art & Lifestyle Continental Europe, …

How Insurers Help Design High-End Homes That Mitigate Disaster Risk

Bruce Gendelman wanted a mountainside retreat when he bought 12 acres in Aspen, Colorado. But forest fires that have torched nearby land in recent years left him concerned. So Gendelman, who runs an insurance brokerage, tapped into a program that …

High Net Worth Insurer Vault Expands Into 3 States in Northeast

Vault, an insurer focused on the needs of the high net worth market, has received approvals to underwrite in Connecticut, New Jersey and Pennsylvania. This adds to their existing operations in Florida and South Carolina and non-admitted coverage offerings in …