Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
U.S. E&S Sector Is Booming … But Is it Too Much Business to Handle?
Apr 1 2024 // The excess and surplus (E&S)lines and specialty insurance market is booming and looks set to continue its upward trajectory. The question is whether the sector currently has the resources to take advantage of these...
Fidelis Partnership Gets ‘In Principle’ Approval From Lloyd’s to Launch Syndicate
Mar 28 2024 // The Fidelis Partnership, the Bermuda-based managing general underwriter, announced that Lloyd’s has granted “in principle” approval for the launch of Syndicate 3123 in collaboration with Fidelis Insurance...
Baltimore Bridge May Trigger Historic Marine Loss, Lloyd’s of London Says
Mar 28 2024 // Insurance payouts for Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Lloyd’s of London Chief Executive Officer John...
Lloyd’s of London Swings to $13.5 Billion Profit in 2023
Mar 28 2024 // Lloyd’s of London swung to a pre-tax profit of 10.7 billion pounds ($13.51 billion) in 2023, the commercial insurance market said on Thursday, boosted by strong underwriting and investment performance. The insurance...
RT Specialty’s Austenfeld Elected WSIA President
Mar 20 2024 // Brenda (Ballard) Austenfeld was elected to serve as 2024-2025 Wholesale & Specialty Insurance Association (WSIA) president Austenfeld, CEO and president of RT Specialty’s national property practice, was chosen by...
Agile Underwriting Gets ‘In-Principle’ Approval to Launch Lloyd’s Syndicate
Mar 18 2024 // Agile Underwriting Services has received “in-principle” approval from Lloyd’s to create Agile Syndicate 2427, subject to regulatory approvals. Syndicate 2427 will be established under the...
People Moves: Moscowitz New COO at RT Specialty; Williams to Lead Nationwide’s Small Market Commercial Lines
Mar 15 2024 // Moscowitz New COO at RT Specialty RT Specialty promoted Marissa Moscowitz to chief operating officer. Moscowitz has over 15 years of information technology, business intelligence and business operations experience and has...
Lloyd’s and Bermuda Monetary Authority Collaborate to Share Risk Expertise
Mar 14 2024 // The Lloyd’s market and the Bermuda Monetary Authority (BMA) are jointly developing an initiative to share risk expertise between these two major re/insurance hubs. The focus will be on fostering innovation through...
Lloyd’s Reports Banner Year in 2023 but ‘Disciplined Underwriting’ Must Be Maintained
Mar 11 2024 // Lloyd’s strong 2023 results reaffirm the primacy of underwriting, “but it’s one year and therefore not a reason for complacency,” said Patrick Tiernan, chief of markets, in a market message to...
People Moves: Aspen UK Names Stanford CEO, Osman Become Active U/W, Lloyd’s Syndicate 4711; Howden Tiger Promotes Chattaraj as Chief Science Officer
Mar 8 2024 // This edition of International People Moves details appointments at Aspen UK and Howden Tiger. A summary of these new hires follow here. Stanford Named CEO of Aspen UK, Osman Become Active U/W, Lloyd’s Syndicate...
Former AIG Execs Launch E&S Company Dellwood Group for Small/Middle Sized Risks
Mar 8 2024 // Two former executives with American International Group (AIG) have launched a nationwide excess and surplus lines (E&S) insurance holding company. Michael Price and Kean Driscoll announced the formation of Dellwood...
People Moves: Sompo Japan Names Takahashi as Chief Risk Officer, Head of Reinsurance; WTW Taps Aon’s Bosc for Global Specialty Team
Mar 6 2024 // This edition of International People Moves details appointments at Sompo Japan and Willis Towers Watson (WTW). A summary of these new hires follows here. Sompo Japan Names Takahashi as Chief Risk Officer, Head of...
Florida Surplus Lines Saw ‘Monumental’ Growth in February, FSLSO Says
Mar 6 2024 // Surplus lines in Florida saw a huge increase in premium, policy count and new business for February compared to the same month last year, a spike in growth that the Florida Surplus Lines Service Office called...
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...
