Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Hits 35% Female Leadership Target, Says it Has a ‘Way to Go’
Mar 5 2024 // Lloyd’s of London has hit a short-term target of filling 35% of leadership roles with women, although less than half of firms in the commercial insurance market had hit the mark, it said on Tuesday. Lloyd’s...
AXIS Capital’s Syndicate 2050 Gets Full Lloyd’s Approval to Begin Underwriting
Mar 5 2024 // AXIS Capital Holdings announced it has received full approval from Lloyd’s to begin underwriting from April 1, 2024. AXIS first announced in December that it had secured in-principle approval from Lloyd’s to...
UK Insurer Aviva to Enter Lloyd’s Market via Acquisition of Probitas for £242M
Mar 4 2024 // Aviva plc announced it will acquire 100% of Probitas Holdings (Bermuda) Ltd., the parent company of the Probitas Group, for a minimum fixed consideration of £242 million (US$306.2 million). The transaction includes...
Continued Growth for Surplus Lines in 2023 as Premiums Up 14.6%
Mar 4 2024 // The excess and surplus lines market continued to grow in 2023, with premium reaching nearly $73 billion according to data from 15 state surplus lines offices released by the Wholesale & Specialty Insurance Association...
Ryan Specialty Q4 Net Income Up 28% on E&S Expansion
Mar 1 2024 // Ryan Specialty reported fourth quarter 2023 net income of $58.5 million and net income of $194.5 million for the full year. The Chicago-based specialty insurance firm grew Q4 net income by about 28% from the prior year,...
Marsh McLennan, Ukraine, Lloyd’s Expand Insurance Facility for Non-Military Shipments
Mar 1 2024 // Insurance broker Marsh McLennan, the Ukrainian government and Lloyd’s have announced a major expansion of the Unity insurance facility – a public-private partnership originally launched in November 2023 to provide...
More P/C Carriers With Less Surplus: Aon Ward Analysis
Feb 19 2024 // As we continue into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a December 2023...
Chubb Writing More Personal E&S but CEO Greenberg Doesn’t Like the Trend
Feb 19 2024 // Chubb is writing more North American personal excess and surplus lines business, but the insurer’s chief executive is not exactly celebrating. While he reminded analysts during a fourth-quarter 2023 earnings...
Hub Launches High Net Worth Excess Wildfire Program in California
Feb 19 2024 // HUB International launched a new program to address the need for enhanced wildfire coverage of high value homes that will be offered exclusively by HUB Private Client to address the insurance and risk management needs of...
MCI Syndicate-in-a-Box Gets Lloyd’s Nod to Provide Clinical Trial Funding Insurance
Feb 16 2024 // Asta, through its third-party managing agency at Lloyd’s, announced the “in-principle” approval of a syndicate-in-a-box (SIAB) to deliver a breakthrough insurance product that aims to accelerate the...
People Moves: Ardonagh Specialty Taps Gallagher Re’s Rance as Head of Specialty at Inver Re London; SiriusPoint Bolsters Energy and Marine Offering With 2 Key Hires
Feb 14 2024 // This edition of International People Moves details appointments at Ardonagh Specialty’s Inver Re and Bermuda-based SiriusPoint. A summary of these new hires follows here. Ardonagh Specialty Taps Gallagher Re’s...
Continued Growth for Surplus Lines in 2023 as Premiums Up 14.6%
Feb 14 2024 // The excess and surplus lines market continued to grow in 2023, with premium reaching nearly $73 billion according to data from 15 state surplus lines office release by the Wholesale & Specialty Insurance Association...
Court Orders Texas Adjuster to Cease Using Lloyd’s Trademarked Names
Feb 9 2024 // A Texas public adjuster committed willful infringement when he formed a corporation and a limited liability company with the names “Certain Underwriters at Lloyds London, Inc.” and “Certain Underwriters...
Florida Specialty Insurer Fortegra Shelves IPO Plans at the Last Hour
Feb 7 2024 // Jacksonville-based specialty insurer Fortegra Group has withdrawn its plans for an initial public offering in the United States, just hours before the IPO and nearly three years after the company scrapped its earlier...
Markets/Coverages: Upland Starts Pro Liability E&O, Excess Cyber
Feb 7 2024 // Upland Capital Group said it has introduced two new liability products to its portfolio: Professional Liability Errors and Omissions as well as Excess Cyber Liability. The professional liability team is led by Kate Walas,...
Hub Launches High Net Worth Excess Wildfire Program in California
Feb 5 2024 // HUB International launched a new program to address the need for enhanced wildfire coverage of high value homes that will be offered exclusively by HUB Private Client to address the insurance and risk management needs of...
Southwest Wins Appeal in Cyber Excess Coverage Dispute With Liberty
Feb 5 2024 // The 5th U.S. Circuit Court of Appeals ruled in mid-January that Southwest Airlines can continue to seek reimbursement under its Liberty Mutual cyber risk policy for costs incurred during a 2016 massive computer...
Chubb Writing More Personal E&S but CEO Greenberg Doesn’t Like the Trend
Feb 1 2024 // Chubb is writing more North American personal excess and surplus lines business, but the insurer’s chief executive is not exactly celebrating. While he reminded analysts during a fourth-quarter earnings conference...
Florida Bills Would Let Surplus Lines Do Takeouts and Require More Data Reporting
Jan 31 2024 // A key Florida Senate committee this week advanced a bill that would allow surplus lines carriers to take over coverage of second homes from Citizens Property Insurance Corp. Reaction by agents and brokers was mixed. The...
People Moves: Carbon Names Willetts Head of Specialty; Canopius Hires 4 in Credit & Political Risk Team; BHSI Taps Chaucer’s Merton to Lead UK Customer & Broker Engmt
Jan 30 2024 // This edition of International People Moves details appointments at Carbon Underwriting, Canopius Group and Berkshire Hathaway Specialty Insurance (BHSI) . A summary of these new hires follows here. Carbon Underwriting...
