Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Best Affirms Amlin AG, Amlin plc, Lloyd’s Syndicate 2001 Ratings; Outlook Stable
Jan 11 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Lloyd’s Syndicate 2001, which is...
Surplus Lines Regulatory Picture for 2013
Jan 10 2013 // State implementation of the Nonadmitted and Reinsurance Reform Act (NRRA), effective July 21, 2011, proceeded relatively smoothly during 2012, albeit with a few hiccups as industry and regulators navigated the transition...
Atlantic Specialty Lines Announces New Office in South Florida
Jan 9 2013 // Miramar, FL, 01/08/13 – Atlantic Specialty Lines announces the opening of their newest office located in South Florida. The office in Miramar will be led by Nancy Riveron and Marianne Correa. ASL is looking to better...
HIIG Reorganizes Domestic Underwriting Operations
Jan 8 2013 // Houston International Insurance Group (HIIG) has reorganized ts domestic underwriting operations, which going forward will be re-branded under the symbol HIIG. The following divisions have been created: HIIG Construction...
Lloyd’s Syndicate ProSight Launches Innovative Independent Film Coverage
Jan 4 2013 // Lloyd’s Syndicate ProSight 1110 is offering independent film makers’ insurance to cover mishaps during filming, as well as failure to complete a film on time and on budget. It is the “first insurer to...
Zurich, Swiss Re in $270 Million Excess of Loss Deal for No. Am. Quake Coverage
Jan 4 2013 // Zurich Insurance Group and Swiss Re have announced that Zurich has obtained, through its subsidiaries Zurich American Insurance Company and Zurich Insurance Company Ltd, a 3-year $270 million catastrophe excess of loss...
Texas Surplus Lines Premium Exceeded $4 Billion in 2012
Jan 3 2013 // Premium on policies reported to the Surplus Lines Stamping Office of Texas in 2012 totaled more than $4 billion, a record volume SLSOT reported. This represented an increase of $767 million over 2011, a rise of nearly 24...
Lloyd’s: Increasing Civil Unrest Driving Political Violence Coverage Demand
Dec 31 2012 // A report from Lloyd’s of London concludes that the increasing demand for political risk insurance “has been rising as civil unrest and political violence continue to threaten businesses around the...
R-T to Acquire Workers’ Comp Wholesaler IFIS in California
Dec 28 2012 // R-T Specialty LLC entered into a definitive agreement to acquire West Coast workers’ compensation specialist International Facilities Insurance Services. Chicago, Ill.-based R-T is the brokerage arm of Ryan Specialty...
P/C Industry’s 9 Month Results Show Insurers Can Handle Sandy Losses: ISO, PCI
Dec 28 2012 // Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011. Insurers’ overall profitability as...
Berger Named President of Berkley Specialty Underwriting Managers
Dec 20 2012 // Kenneth J. Berger has been named president of Berkley Specialty Underwriting Managers LLC. The appointment is effective immediately. Berger succeeds Steven S. Zeitman, who has been appointed chairman and will remain chief...
Markel Acquiring Alterra for $3.1B to Diversify, Expand to Reinsurance
Dec 19 2012 // Specialty insurer Markel Corp. has agreed to acquire Alterra Capital Holdings Ltd. for $3.1 billion in cash and stock to increase business diversification and expand into reinsurance. The two companies announced Wednesday...
Praetorian Offers to Lower Florida Forced-Placement Rates by 18.8%
Dec 18 2012 // A forced placement mortgage property insurer providing coverage in Florida has offered to lower its rates by an average of 18.8 percent, despite the fact that state regulators said the rate decrease should be double that...
HCC Global Financial Products to Offer Kidnap & Ransom Insurance
Dec 14 2012 // HCC Global Financial Products, a provider of Financial Lines Insurance since 1999, announced the launch of an international HCC branded Kidnap and Ransom (K&R) Insurance product in conjunction with HCC Specialty,...
Best Upgrades Issuer Credit Rating of Hiscox Group Subsidiaries; Affirms FSR
Dec 14 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and upgraded the issuer credit rating (ICR) to “a+” from “a” of Hiscox...
Lloyd’s, JLT to Cover Unprecedented Antarctic Winter Crossing
Dec 13 2012 // Lloyd’s of London announced that “broker Jardine Lloyd Thompson (JLT) and a group of Lloyd’s syndicates, alongside other major insurance companies, have underwritten a bespoke policy to cover one of the...
Peck to Lead Western Surplus Lines Agency as President, CEO
Dec 12 2012 // Western Surplus Lines Agency Inc., based in Abilene, Texas, named Frank Peck as president and chief executive officer effective Jan. 1, 2013. Peck has served as an executive vice-president since 2006. He succeeds Ron...
ACE USA Restructures Global Property Division
Dec 6 2012 // ACE USA, the U.S.-based retail operating division of The ACE Group, has reorganized its Global Property division to now include three property insurance units designed to serve the needs of domestic and multinational...
NYC Marathon Organizers Likely to Get Millions From Event Insurance
Dec 5 2012 // The New York Road Runners — a non-profit community running group and the organizer of the annual New York City Marathon — could get millions of dollars in insurance proceeds thanks to its event cancellation...
Spotlight: CIWA Looking for Resurgence in Changing Market, Lawsuit
Dec 4 2012 // The California Insurance Wholesalers Association is in prime position to benefit from trends and events that its board members expect to be unfolding in the next year or two – including an improved surplus lines outlook...
