9 July 2018Insurance

Tokio Marine Kiln acquires WNC Holdings

Specialist insurer Tokio Marine Kiln (TMK) has bought the remaining 51 percent share in WNC Holdings that it does not already own.

WNC is a managing general underwriter (MGU), providing a range of specialty risk management solutions including private flood, builders’ risk and lender–placed products for US-based clients.

TMK has worked in partnership with WNC since 1986 and acquired a 49 per cent share of the company in June 2011.

WNC will retain its existing brand and continue to drive growth in its flood and construction divisions and launch its homeowner’s select product for mortgage servicers. The company expects approximately $200 million of net written premium in 2018.

Charles Franks, Group CEO of TMK, said: “We are committed to building and maintaining long-term, profitable partnerships with high quality businesses in strategically significant territories and we are able to do so thanks to our substantial financial strength. Through this investment, we will continue to capitalise on WNC’s high quality underwriting capabilities, strong management team, established brand and proven track record of generating profits, as we have done with them over the past 30 years.”

Pat Blandford, CEO of WNC, commented: “With TMK’s support, we have broadened our business mix and look forward to offering more product lines to our customers as we expand. To reflect this new phase, we have also refreshed our brand identity and launched a new website to give clients easy access to our people, products and services.”

Make sure you are GDPR compliant and  confirm your email address to keep getting our daily emails

More of today's news

SCOR reorganises London Market specialty business

AXA appoints new UK, Ireland CEO as Blanc departs

US cyber insurance premiums up 37%

Swiss Re places $350m cat bond in Frontline debut

Markel hires CFO of Hamilton at Lloyd’s

Marsh taps Accenture exec as global head of cyber risk consulting

McLarens opens Perth office with key hire

First standard for cyber data breach released

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
16 July 2018   Tokio Marine Kiln (TMK) has entered into a partnership with NTT DATA UK to develop robotics services.
Insurance
3 July 2018   Specialist insurer Tokio Marine Kiln (TMK) has established a $100 million intellectual property (IP) facility with broker Aon and several other Lloyd’s syndicates.
Insurance
26 June 2018   Japan’s property/casualty insurer Tokio Marine is looking for acquisitions in Asia with a $9 billion war chest as potential deals in Europe and the US become expensive, Reuters reported citing CEO Tsuyoshi Nagano.