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Long Beach insurer merges with Cincinnati firm

Law firm on Long Island served as transaction counsel. ....

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Lancer Insurance Company to Merge with Core Specialty

Lancer Insurance Company to Merge with Core Specialty
- Lancer to operate as a separately managed Division of Core Specialty, retaining the Lancer brand and management team
- Furthers Core Specialty s momentum in building the leading specialty insurance company
- Dave Delaney, Lancer s CEO, to join the Core Specialty Board
- Deepens Core Specialty s participation in the commercial auto market, where rates have been escalating
- Pro forma capital exceeds $1 billion
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CINCINNATI and LONG BEACH, N.Y., April 16, 2021 /PRNewswire/ Core Specialty Insurance Holdings, Inc. and its subsidiaries ( Core Specialty or the Company ) and Lancer Financial Group, Inc. (the parent company of Lancer Insurance Company (collectively, Lancer )), both specialty property and casualty ( P&C ) insurers, announced today the signing of a definitive agreement to combine the companies in a stock and cash transaction. ....

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Core Specialty Partners with Duck Creek Technologies for Increased Speed to Market and Operational Efficiency

Core Specialty Partners with Duck Creek Technologies for Increased Speed to Market and Operational Efficiency
Boston, Feb. 24, 2021, the provider s SaaS platform for the P&C insurance industry.
With its sights set on becoming the leading specialty insurer, Core Specialty is moving swiftly toward its goal with a unified set of powerful SaaS solutions while intensifying its focus on product innovation and distribution via the nation s largest specialty line brokerages. Core Specialty sought a next-generation technology platform capable of delivering unmatched operational efficiency, harnessing data from myriad sources, and empowering distribution partners with best-in-class ease of doing business. Duck Creek s Professional Servicesarm is handling the implementation of all solutions, as well as developing a proprietary API-based connectionto the broker ecosystem Core Specialty is cultivating. ....

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Core Specialty Announces Van Spanos as Vice President of Newly Formed Excess & Surplus (E&S) Product Liability Group

Core Specialty Announces Van Spanos as Vice President of Newly Formed Excess & Surplus (E&S) Product Liability Group
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CINCINNATI, Jan. 20, 2021 /PRNewswire/ Core Specialty Insurance Holdings, Inc. and its subsidiaries ( Core Specialty or the Company ) announced today its newly formed excess & surplus (E&S) primary Product Liability group led by Van Spanos. Spanos has joined as Vice President and will be responsible for managing all facets of this business, including direct oversight of the underwriting team dedicated to the E&S Product Liability market segment.
The Product Liability line will operate as a component of Core Specialty s existing Excess Casualty Division. ....

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Core Specialty Confirms Assignment of A- (Excellent) Financial Strength Ratings by AM Best to Subsidiaries StarStone Specialty Insurance Company and StarStone National Insurance Company

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CINCINNATI, Dec. 23, 2020 /PRNewswire/ Core Specialty Insurance Holdings, Inc. ( Core Specialty or the Company ) announced today that AM Best has removed from under review with developing implications and affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of a- of StarStone Specialty Insurance Company and StarStone National Insurance Company. The outlook assigned to these Credit Ratings is stable.
Jeff Consolino, President and Chief Executive Officer of Core Specialty commented Core Specialty completed the recapitalization of StarStone U.S. Holdings, Inc. on November 30, 2020, bringing pro forma Shareholders Equity to over $900 million. We are pleased that AM Best has removed its under review status and affirmed the ratings of our two insurance operating subsidiaries. ....

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