Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Willis Re Taps Aon’s McDowell to Lead Bermuda Unit; Harden as APAC President
Aug 23 2016 // Willis Re announced the appointment of Chris McDowell as CEO of Willis Re Bermuda. Effective Jan. 1, 2017, he will succeed Michael Harden, CEO of Willis Re Bermuda since 2014, who is returning to the Asia Pacific region as...
Caribbean Cat Facility, CCRIF, Pays Belize for Excess Rain From Hurricane Earl
Aug 23 2016 // CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a pay-out of US$261,073 to the government of Belize as a result of heavy rains from Hurricane Earl on Aug. 4-5. Rainfall from the hurricane caused...
Lloyd’s Insurer ArgoGlobal Grabs O’Gorman from CNA to Lead Marine Team
Aug 22 2016 // ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the appointment of Steve O’Gorman as head of Marine, effective Aug. 22. He reports to Bruno Ritchie, director of underwriting and active...
Endurance Global Risk Solutions Launches Environmental Liability Products
Aug 17 2016 // Endurance Specialty Holdings Ltd. has launched a new series of environmental liability insurance products, offering both primary and excess coverage for single sites or property portfolios. Endurance’s new products...
Watford Specialty Looking to Build Program Business with U.S. Acquisition
Aug 17 2016 // Newly formed Watford Specialty Insurance Co. (WSIC), a subsidiary of Bermuda-based Watford Re, took a big leap forward recently with its acquisition of a carrier with admitted licenses in all 50 states and the District of...
Palomar Specialty Launches New Earthquake Product in Missouri
Aug 16 2016 // Palomar Specialty Insurance Co. has launched a new residential earthquake insurance product called Flex Choice for residents of Missouri. Flex Choice allows consumers to customize their residential earthquake coverage to...
Robinson Resigns as Hanover President of Specialty Insurance
Aug 11 2016 // The Hanover Insurance Group Inc., a Worcester, Mass.-based holding company for several property and casualty insurance firms, has announced the September resignation of Andrew S. Robinson, executive vice president and...
Ironshore’s Pembroke Managing Agency Forms Specie Consortium at Lloyd’s
Aug 11 2016 // Ironshore’s Pembroke Managing Agency Ltd. announced the formation of the Specie Consortium, a new venture supported by 21 Lloyd’s Syndicates offering up to US$635 million in capacity for any one risk...
Talbot Forms $115M Political Risk Insurance Binder for U.S. Clients
Aug 10 2016 // Talbot Underwriting Services Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. has launched political risk insurance binding authority from its New York office, underwritten 100 percent by various underwriters at...
Ironshore Launches Coverage for Construction Project Owners
Aug 9 2016 // Ironshore Specialty Casualty has introduced Owners Protective Professional Indemnity (OPPI) coverage for specific construction projects. Ironshore’s OPPI product indemnifies the project owner for first party loss...
Reeves to Join Neon as Chief Risk Officer, in Move from RM Role at Lloyd’s
Aug 5 2016 // Specialist Lloyd’s insurer Neon has appointed Olly Reeves to the role of chief risk officer. He will join Neon on Nov. 1, 2016 from his current role as head of Risk Management at Lloyd’s of London. Subject to...
SLSOT Using Data to Better Communicate with Surplus Line Market Stakeholders
Aug 4 2016 // Surplus lines may not be the most widely understood segment of the property/casualty insurance industry but for risk managers of large organizations it’s often the go-to market for complicated risks for which...
14 States Process $12.7B in Surplus Lines Premium in First Half 2016
Aug 3 2016 // Data from the 14 U.S. surplus lines service/stamping offices show they have processed almost $12.7 billion in insurance premium filings in the first half of 2016, according to the Surplus Lines Stamping Office of Texas...
Sciemus’ Move into Specialty Underwriting: A Case of ‘Adapt and Thrive’
Aug 3 2016 // It was a case of adapt and thrive when modeling and analytics company Sciemus made a big strategic leap this year into underwriting space, power, mining, renewable energy and cyber—as a managing general agent. Despite...
New MGA Founders Specialty Targets Professional Liability Risks
Aug 3 2016 // National wholesale insurance broker, Founders Professional, has opened a new managing general agency, Founders Specialty, which will focus on developing products primarily in the professional liability space with key...
ANV Global Services Raises Capacity for M&A Insurance
Aug 2 2016 // ANV Global Services Ltd, the international managing general underwriter (MGU) of global specialty insurance group ANV, has today announced an increase in its Lloyd’s underwriting capacity for mergers and acquisitions...
Liberty Specialty Markets Appoints Sinz as Head of Europe
Aug 2 2016 // London-based Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Kadidja Sinz to the new role of head of Europe. Sinz will be responsible for leading and directing the specialty and...
CNA Reports Q2 Results with Improved P/C Underwriting
Aug 2 2016 // CNA Financial Corp. reported second quarter 2016 net income of $209 million and net operating income of $201 million. “Overall I am pleased with the result this quarter. Although our International segment had a...
The Hartford Closes on $168M Acquisition of Maxum Specialty
Aug 1 2016 // The Hartford Insurance Group (HIG) has completed its acquisition of Maxum Specialty Insurance Group for $168 million in cash. The transaction, announced in March, closed on July 29. Maxum will maintain its brand and...
Lloyd’s Has Potentially Large Exposure to Catastrophic Cyber Attack: Adsensa Review
Jul 25 2016 // A review of almost 400 reinsurance contracts underwritten at Lloyd’s of London has revealed potentially significant vulnerabilities and exposures if a catastrophic cyber attack should occur. Analysis of 392 property...
