Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Increasing Retentions: The Hidden Premium Increase
Nov 4 2013 // Is the market hardening? A Google search shows that most experts think it is, and it is nearly impossible to find a professional journal without an article discussing the topic. The premium increases that are being...
R-T Specialty to Buy Wholesale Broker Westrope
Nov 1 2013 // Chicago-based national wholesale insurance broker R-T Specialty said it has agreed to merge with another wholesale broker Westrope, based in Kansas City, Missouri. Westrope has a national presence with concentrations in...
ThinkRisk, Aspen Launch New Private, Non-Profit Management Liability Program
Oct 31 2013 // ThinkRisk Underwriting Agency, a division of RSG Underwriting Managers, LLC, and Aspen US Insurance have launched a new national management liability package program. The product is available on an admitted basis in most...
Willis Launches Global 360 to Specialty Clients
Oct 24 2013 // Willis Limited, a subsidiary of Willis Group Holdings Plc, has announced the first set of insurers offering to support Global 360, which it described as “a pioneering suite of capacity facilities for its specialty...
Westrope Named President of Surplus Lines Group, NAPSLO
Oct 23 2013 // Kevin T. Westrope, president of Westrope, an independent wholesale brokerage based in Kansas City, Mo., has been elected to serve as the new president of the National Association of Professional Surplus Lines Offices...
Aon Launches Excess Liability Facility for Railroad Business
Oct 22 2013 // Aon Risk Solutions, the global risk management business of Aon plc, has launched Aon Rail Excess Liability facility. The insurance facility was created in response to emerging risks arising out of requirements in the Rail...
Aon Benfield 1st Half 2013 Lloyd’s Report: Premiums up; Profits Down
Oct 17 2013 // Aon Benfield’s Analytics’ Market Analysis team has updated its report on Lloyd’s to reflect the latest financial figures for the first half of 2013 and business position going into 2014. Key figures in...
A.M. Best, Fitch Explain Recent Downgrades of Tower Group
Oct 16 2013 // Rating agencies have downgraded Tower Group following the insurer’s announcement of loss reserve and goodwill charges in excess of what was expected. Tower has said that the company’s board of directors is...
Top Excess & Surplus Insurers by Market Share: SNL
Oct 15 2013 // Source: SNL Financial
Sanders to Succeed Latham as President of Markel Wholesale
Oct 10 2013 // John Latham is stepping down as president of Markel Wholesale effective Dec. 31, 2013 and will be succeeded by Bryan Sanders, who currently serves as executive vice president of Markel’s Wholesale division. Sanders...
Berkshire Specialty Introduces Business Crisis Event Cost Coverage
Oct 8 2013 // Berkshire Hathaway Specialty Insurance has introduced business crisis event cost coverage, which extends its casualty and healthcare lead umbrella policies to cover costs incurred to manage a business crisis, including the...
Lloyd’s CEO Richard Ward Reflects on ‘Nearly 8’ Eventful Years
Oct 6 2013 // Lloyd’s CEO Richard Ward is stepping down from the post at the end of the year. Despite the catastrophes of 2005 and 2011, the two costliest years in the industry’s history, as well as the financial crisis, he...
Underwriting, Investment Gains Boosted P/C Insurers’ Bottom Line in First Half 2013
Oct 3 2013 // Private U.S. property/casualty insurers’ net income after taxes rose to $24.5 billion in first-half 2013 from $17.2 billion in first-half of last year. Insurers’ overall profitability as measured by their...
Guy Carpenter Launches Specialty Practice for Excess and Surplus Lines Carriers
Oct 2 2013 // Guy Carpenter & Co., a global risk and reinsurance intermediary specialist and member of Marsh & McLennan Cos., announced the launch of its new Excess & Surplus Lines Specialty Practice. Guy Carpenter said the...
MarketScout Expands Workers’ Comp Specialty Division
Sep 29 2013 // MarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, announced staff promotions related to the expansion of its Workers’ Compensation Specialty Division. Brian...
Profits Steady, GWP Up, But Investments Still Low: Lloyd’s CFO Luke Savage
Sep 27 2013 // Lloyd’s first six months results, released yesterday, were generally good. Profits were down slightly at £1.38 billion [[$2.222 billion] from £1.53 billion [$2.463 billion] for the first half of 2012, while gross...
Metcalf to Head New Liberty Mutual Specialty Markets Unit
Sep 27 2013 // Liberty Mutual Insurance Group announced that Nick Metcalf has been named President and Group Managing Director of Liberty Specialty Markets, a new operation created by integrating the Company’s existing...
Arch Insurance Group’s Contract Binding Operations Launch Excess Liability Capacity
Sep 26 2013 // Arch Insurance Group, a subsidiary of Arch Capital Group Ltd., has increased limits of up to $5 million on its general liability coverage in the newly-formed Contract Binding Operations. The Arch Contract Binding...
Cooper Gay Swett & Crawford’s CEO Toby Esser on its Global Business
Sep 26 2013 // Toby Esser is a truly global executive. As the CEO of Cooper Gay Swett & Crawford (CGSC), he coordinates the broker’s far flung operations in the UK, Europe, Asia and South America, as well as North America,...
Lloyd’s Posts $2.215 Billion 1st 6 Months Profit; Investment Returns Down
Sep 26 2013 // Lloyd’s announced a profit of £1.38 billion [$2.215 billion] for the six-month period ending 30 June 2013. “The market continued to grow with gross written premium increasing 4.9 percent to £15.5 billion...
