Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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,...
XL, Cobalt Underwriting Launch Shariah-Compliant Equine Product at Lloyd’s
Apr 13 2015 // XL Group and Cobalt Underwriting have launched the first Shariah-compliant product to be available through Lloyd’s of London. The cover is an equine product, which responds to named perils, mortality, theft,...
Texas Commissioner Appoints 3 to Surplus Lines Stamping Office Board
Apr 10 2015 // Texas Commissioner of Insurance David Mattax has appointed Michael Berry of Cedar Park and Evelyn Miller of Baytown, and reappointed Jennifer Hoff of Cedar Park to serve on the Surplus Lines Stamping Office Board of...
Nautilus Insurance Enhances Its Cyber Coverage
Apr 10 2015 // Coverage offered as a General Liability sublimit Scottsdale, AZ, April 10, 2015- Nautilus Insurance, which writes on behalf of Nautilus Insurance Company and Great Divide Insurance Company, member companies of W. R....
Beazley, Korean Re Form Partnership; Create Special Purpose Lloyd’s Syndicate
Apr 9 2015 // Beazley and Korean Re announced a partnership to develop business together and to establish a special purpose syndicate at Lloyd’s, Syndicate 6050. Under the agreement, Syndicate 6050 will write a whole account quota...
Buchan Joins JLT Specialty’s Construction Practice; Lu Joins Environmental
Apr 8 2015 // JLT Specialty Insurance Services Inc. has appointed William Buchan as senior vice president of its Construction Practice, which is based in San Francisco. Buchan will help lead all facets of the Construction Practice, as...
ProSight Specialty, NABCEP to Offer Program for Certified Solar Professionals
Apr 7 2015 // ProSight Specialty Insurance has partnered with the North American Board of Certified Energy Practitioners (NABCEP), a provider of renewable energy practitioner certification, to launch an insurance offering for NABCEP...
Ryan Specialty Group Launches New MGU Windward Specialty
Apr 7 2015 // RSG Underwriting Managers (RSGUM) has launched Windward Specialty, a new managing general underwriter. Windward Specialty will underwrite a range of property risks exclusively through wholesale insurance brokers. The new...
Lloyd’s of London Offers Wildfire Insurance to Oregon at Higher Rates
Apr 6 2015 // The state of Oregon has a chance to continue its unique insurance policy that helps pay for fighting wildfires in big burning years – but at a higher premium and deductible. Lloyd’s of London has offered to cover...