Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Compass Specialty Risk Launched in Wisconsin
May 7 2015 // Compass Specialty Risk LLC, a new wholesale insurance broker and managing general agent has commenced national operations. The firm is headquartered in Middleton, Wis., with another office in Sacramento, Calif. Compass...
New Delaware Law to Help Lift Producers’ Surplus Lines Administrative Burden
May 6 2015 // Delaware insurance producers’ administrative burden when placing business in the surplus lines market will be lighter thanks to passage of House Bill 40 on Tuesday in the state General Assembly, the Delaware...
RenaissanceRe Reports Q1 Net Income of $167.8M, Up From $151M in Q1 2014
May 6 2015 // Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to RenaissanceRe common shareholders of $167.8 million, or $4.14 per diluted common share, in the first quarter of 2015, compared to $151.0 million,...
Orchid Underwriters Agency Acquires Coastal Agents Alliance in New Jersey
May 5 2015 // Orchid Underwriters Agency LLC, a Vero Beach, Florida-based managing general agent providing excess & surplus (E&S) insurance for coastal properties, announced that it has acquired Coastal Agents Alliance, a...
P/C Insurers Post Underwriting Profit, Record Surplus for 2014
May 5 2015 // The U.S. property/casualty insurance industry posted its second consecutive year of profitable underwriting results in 2014, according to A.M. Best. Surplus for this sector increased by $21.9 billion and reached another...
Best Affirms Ratings of XL and Subs; Removes from Under Review
May 4 2015 // A.M. Best has removed from under review with negative implications and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of the ongoing...
Georgia High Court Sides with XL in Consent to Settlement Dispute
May 4 2015 // The Georgia Supreme Court denied an insured’s bad faith claim against its insurer for its refusal to pay a settlement because the insured settled on the amount without the consent of the insurer that was required by...
E&O Insights: Insuring Restaurants and Taverns Presents Some Real E&O Risks
May 4 2015 // Although most agencies insure at least one restaurant or tavern, this shouldn’t suggest that they are easy accounts to write. Errors and omissions (E&O) carriers will readily admit that writing this class of...
Validus Reports $173.4M Q1 Net Income, Up From $162.4M in Q1 2014
May 1 2015 // Bermuda-based Validus Holdings Ltd. reported net income available to Validus of $173.4 million, or $1.98 per diluted common share, for the three months ended March 31, 2015, compared to $162.4 million, or $1.66 per diluted...
Ironshore International Forms Lead Umbrella Consortium for U.S. Companies
Apr 28 2015 // Ironshore International’s Specialty Casualty unit of Ironshore Europe Limited (IEL), the Specialty Casualty unit and its Pembroke Lloyd’s Syndicate 4000 have joined with Lloyd’s Antares Syndicate 1274 and...
ACE Appoints Fletcher ACE Bermuda Chairman; Clabby, Gonsalves Promoted
Apr 21 2015 // ACE Group has announced several key executive appointments in its ACE Bermuda business. Rees Fletcher has been named Chairman of ACE Bermuda. He joined ACE Bermuda 26 years ago, rising to the position of Senior Vice...
Fairfield Steps Down as ANV CEO, Board Member
Apr 21 2015 // ANV Holdings BV, the Dutch headquartered global specialty insurance group, has confirmed that the company’s founder, R. Matthew Fairfield is stepping down effective immediately as the Company’s Chief Executive...
Georgia Supreme Court Sides with XL Specialty in Barring Bad Faith Claim
Apr 20 2015 // The Georgia Supreme Court denied an insured’s bad faith claim against its insurer for its refusal to pay a settlement because the insured settled on the amount without the consent of the insurer that was required by...
Guy Carpenter Launches Public Sector Specialty Practice
Apr 20 2015 // Guy Carpenter has announced the launch of its Public Sector Specialty Practice, utilizing a global team focused exclusively on the unique risk management needs of governmental agencies and entities. “Approximately 73...
XL Group Introduces New Environmental Excess Policy Form
Apr 20 2015 // XL Group’s Environmental insurance business has created a new excess insurance policy to provide clients and brokers in the U.S. and Canada with a simplified way to buy an additional layer of environmental insurance...
Merger & Acquisition Activity Continues to Climb
Apr 20 2015 // Acquisition activity for the first quarter of 2015 reached 90 deals, a record for the first three months of the year. We saw the same number of transactions announced during the fourth quarter of 2014, typically the most...
Ratings of Illinois-Based Specialty Risk of America Downgraded
Apr 17 2015 // A.M. Best has downgraded the financial strength rating (FSR) to B+ (Good) from B++ (Good) and the issuer credit rating (ICR) to “bbb-” from “bbb+” of Specialty Risk of America (SPRISKA) in...
JLT Specialty Insurance Appoints Najim Senior VP, Analytics & Consulting
Apr 15 2015 // Chicgo-based JLT Specialty Insurance Services Inc. (JLT Specialty USA), a U.S. subsidiary of Jardine Lloyd Thompson Group plc. (JLT), appointed Chris Najim as senior vice president of analytics and consulting. Najim will...
Lloyd’s Names Magrath Western Regional Director
Apr 15 2015 // Lloyd’s of London has named Richard Magrath regional director for its Western U.S. region. Magrath will be based in Los Angeles, Calif. with responsibility for market development activities in California, Oregon,...
Allied World Appoints Evans Non-Executive Chairman of Lloyd’s Managing Agency
Apr 15 2015 // Allied World Assurance Company Holdings, AG announced that Jonathan Evans will join the board of directors and become the Non-Executive Chairman of Allied World Managing Agency Limited, its Lloyd’s managing agency,...
