Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Global Risk Partners Backs LONMAR’s MBO, Supporting Its Growth Strategy
Apr 27 2016 // Global Risk Partners, the acquisitive insurance broking and managing general agency (MGA) investment vehicle, has agreed to back the management buyout of LONMAR Global Risks, the specialist Lloyd’s broker. The...
Paragon Names Bay-Weber President of Excess And Surplus in California
Apr 25 2016 // Paragon Insurance Holdings LLC in California has named Jill Bay-Weber president of its excess and surplus commercial business division. Bay-Weber has been responsible for the development and underwriting of many specialty...
Ryan Specialty Launches Marine Unit; AIG’s Pecci and Stahl to Lead
Apr 25 2016 // Specialty insurance firm Ryan Specialty Group (RSG) has formed a specialty marine underwriting business and tapped two executives who were formerly with American International Group (AIG) to lead it. The newly-formed...
Safety Specialty Insurance Co. Assigned A+ Rating by A.M. Best
Apr 22 2016 // A.M. Best has assigned a financial strength rating of A+ (Superior) and an issuer credit rating of “aa-” to Safety Specialty Insurance Co., based in St. Louis, Mo. The outlook assigned to each rating is...
AmTrust Seeks to Boost Lloyd’s Presence with Purchase of Specialty Insurer ANV
Apr 20 2016 // AmTrust Financial Services said it has agreed to buy specialty insurance company ANV Holdings B.V. and its Lloyd’s affiliates for $218.7 million in cash. The seller is the Ontario Teachers’ Pension Plan. As...
AXA & Chaucer Form Strategic Partnership to Provide African Specialty Insurance
Apr 19 2016 // AXA is targeting the rapidly expanding market for African specialty insurance by partnering with Chaucer, a Lloyd’s specialty insurance group. The new venture, called “AXA Africa Specialty Risks,” will be...
Hearn of CGSC to Become CEO of Lloyd’s Broker CGNMB After Newman Retires
Apr 18 2016 // CGNMB LLP, the London-based Lloyd’s broker, announced that Gordon Newman will retire from his role as CEO on April 20. Subject to regulatory approvals, his role and responsibilities will be assumed by Steve Hearn,...
Pacific Specialty Insurance Company Recognized by Celent as a Model Insurer for Operational Excellence
Apr 18 2016 // Palo Alto, CA, April 18, 2016- Pacific Specialty Insurance Company has been recognized by Celent as a Model Insurer for operational excellence in their work to transform their legacy systems and infrastructure. Celent is a...
Oregon Considers Renewal of Lloyd’s Wildfire Insurance Policy
Apr 18 2016 // Oregon is considering another year of insurance coverage to help pay for catastrophic wildfire seasons. British insurance giant Lloyd’s is offering the state another year of coverage despite three consecutive years...
Florida Announces Exit from Multi-State Surplus Lines Clearinghouse NIMA
Apr 15 2016 // The Florida Surplus Lines Office (FLSLO) has announced that Florida has made the decision to withdraw from the Nonadmitted Insurance Multi-State Agreement (NIMA), effective June 1, 2016. The decision marks the second state...
Where Prescription Drug Prices Are Headed in U.S.
Apr 15 2016 // Spending on medicines increased by double digits for a second year in 2015 and reached $425 billion based on invoice prices. After adjusting for rebates and other price concessions by manufacturers, net spending was $310...
Hamilton Underwriting at Lloyd’s Names Prince as Head of Professional Indemnity
Apr 13 2016 // Hamilton Underwriting Ltd., the managing agency of Lloyd’s Syndicate 3334 and the Lloyd’s operations of Bermuda-based Hamilton Insurance Group, announced that Daniel Prince has been hired as head of...
Specialty Insurance Veteran Launches MGA Holding Company: DOXA
Apr 12 2016 // A group of investors led by Matthew Sackett, former senior vice president of national sales for K&K Insurance and former president and CEO of Leisure Sports Specialists, has announced the formation of DOXA Insurance...
Skuld Lloyd’s Syndicate 1897 Appoints 2 Marine Hull Underwriters
Apr 12 2016 // Skuld, the Oslo, Norway-based marine insurance provider, announced the recruitment of Paul Fry and Sarah Wilson to Skuld’s Lloyd’s Syndicate 1897, the specialist marine and energy syndicate. Fry joins as deputy...
3 Appointed to Surplus Lines Stamping Office of Texas Board
Apr 12 2016 // Insurance Commissioner David Mattax has appointed three members to serve on the board of directors of the Surplus Lines Stamping Office of Texas for terms to expire Dec. 31, 2018. The board reviews and evaluates the...
Oregon Considers Renewal of Lloyd’s Wildfire Insurance Policy
Apr 8 2016 // Oregon is considering another year of insurance coverage to help pay for catastrophic wildfire seasons. British insurance giant Lloyd’s is offering the state another year of coverage despite three consecutive years...
UK’s Allianz Commercial Doubles Excess Liability Capacity to £50M ($70.5M)
Apr 8 2016 // Allianz Commercial* announced it has increased its capacity for excess of loss cover, which will now allow brokers to purchase excess liability cover up to £50 million ($70.5 million) per individual class of business. The...
Lloyd’s America Chief Says E&S Sector ‘Best Kept Secret’
Apr 7 2016 // If insurance is the best kept secret in the business world, then the E&S sector is the best kept secret in the insurance industry. That’s according to Hank Watkins, president of Lloyd’s America, who talked...
Antares Lloyd’s Syndicate Partners with Iron-Starr, Ironshore’s Bermuda MGA
Apr 7 2016 // Ironshore Inc. announced that Antares Syndicate 1274 at Lloyd’s will join as a subscribing insurer for Bermuda-based Iron-Starr Excess Agency Ltd. Iron-Starr is a managing general agency (MGA), which underwrites...
Here’s What’s Happening with Drug Costs in Workers’ Compensation
Apr 7 2016 // Overall pharmacy spending increased 2.2 percent for U.S. workers’ compensation payers in 2015 due to higher drug prices, according to a report by benefit manager Express Scripts. That overall increase was a function...
