Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
FSA Changes Date for Solvency II Implementation, Lloyd’s, Aon Benfield Comment
Oct 7 2011 // On October 3, the UK’s Financial Services Authority (FSA) announced a revision to the dates on which it plans to implement the provisions of the European Union’s Solvency II regulations governing the insurance...
HCC Insurance Opens New Primary and Excess Casualty Divisions
Oct 6 2011 // Houston-based HCC Insurance Holdings Inc. has opened new primary casualty and excess casualty divisions led by Chris Day and Phil Joschko, respectively. The primary casualty and excess casualty divisions extend HCC’s...
Jansen and Hastings Launch Cove MGA
Oct 6 2011 // Two veterans in the London insurance marketplace have come together again to launch a new underwriting agency with a focus on U.S.-based homebuilders. Paul Jansen and Kevin Hastings have launched Cove Programs, a newly...
RSA launches Global Specialty Lines
Oct 4 2011 // RSA has combined its risk managed and specialist businesses across the globe to create the Global Specialty Lines (GSL) division. Led by Paul Donaldson, group sales and broker relationships director, the GSL division is...
9 Years Later: Lloyd’s Chairman Peter Levene
Oct 3 2011 // Lord Peter Levene, chairman of Lloyd’s, is leaving the company after nine years at the helm. He is the longest serving Lloyd’s chairman in 125 years and oversaw tremendous change at the international insurance...
Sportscover: Providing Coverage for Sports and Leisure around the World
Oct 3 2011 // Sports and leisure activities are one of the most ubiquitous pass times the world over. Whether you participate, or just watch, virtually no one is far away from some form of sporting activity. It’s why sports, as a...
After 30 Years, Bouhan Leaves NAPSLO
Oct 3 2011 // The National Association of Professional Surplus Lines Offices Ltd. (NAPSLO) began serving the surplus lines industry and its wholesale broker members in 1975. Just six years into the association’s history a young...
Wanted: Industry Seeks Out Specialty Marine Brokers
Oct 3 2011 // Two developments in the marine market have combined to create a tantalizing opportunity for wholesale brokers and managing general agents (MGAs) to serve the marine marketplace. While marine revenues remain fairly flat,...
Surplus Lines Industry Losing Its Edge?
Oct 3 2011 // The surplus lines industry continues to outperform the overall property/casualty industry but its advantage is not what it used to be. According to the annual A.M. Best special report, the surplus lines industry generated...
Nationwide, Harleysville CEOs Reassure Agents: Merger All About Growth
Sep 30 2011 // The merger of insurer Nationwide Mutual with regional carrier Harleysville Mutual is all about growth, not only for the companies but also for their independent agents, according to the CEOs of the two...
Lloyd’s Calls for Redrawing Disaster Roles in U.S. for Government, Private Insurers
Sep 27 2011 // Government intervention in the insurance market is putting the financial burden of natural disasters on U.S. taxpayers, according to a report by Lloyd’s of London, the global specialist insurance market. The report,...
Ryan Specialty Completes Acquisition of Lloyd’s Insurer Jubilee
Sep 26 2011 // Ryan Specialty Group, LLC (RSG) announced that it has completed the acquisition of specialist Lloyd’s insurer Jubilee Group Holdings Limited, “which currently operates two active Syndicates at Lloyd’s, a...
Ryan Specialty Group Completes Acquisition of Specialist Lloyd’s Insurer
Sep 23 2011 // Ryan Specialty Group LLC (RSG), based in Chicago, has completed the acquisition of specialist Lloyd’s insurer Jubilee Group Holdings Limited (Jubilee), the company announced. Jubilee currently operates two active...
Five Star Specialty Launches Breakdown Service for Bus, Waste Hauler Vehicles
Sep 23 2011 // Five Star Specialty Programs, a division of Crump Insurance Services, Inc., and part of Crump Group, Inc., has launched a new breakdown service to buses and waste hauler vehicles insured through 5Star, the exclusive...
Freedom Specialty Hires Cyber Liability Products Director
Sep 22 2011 // New York-based Freedom Specialty Insurance Co. appointed John Merchant as director of network security, data privacy and technology risk. In his role, Merchant will manage the development, underwriting and risk management...
Lord Levene to Receive Rarely Given Gold Medal for Services to Lloyd’s
Sep 22 2011 // Lloyd’s announced that its outgoing Chairman, Lord Peter Levene, who steps down on October 12, is “to receive a rarely-struck Gold Medal to mark his contribution to Lloyd’s during his nine years as...
Lloyd’s CFO Stresses Overall Strength after Record Loss
Sep 22 2011 // Lloyd’s of London reported the largest first half loss in its 323 year history yesterday, Sept. 21 – £697 million, or over $1 billion. However, Lloyd’s Chief Financial Officer, Luke Savage, was...
Selective to Acquire Montpelier Re E&S Unit for $55M
Sep 21 2011 // Selective Insurance Group is acquiring Montpelier U.S. Insurance Company (acronym MUSIC), an excess-and-surplus lines unit from Montpelier Re U.S. Holdings Ltd., for $55 million. Selective said the deal would be completed...
Lloyd’s Reports Billion Dollar First Half Loss Due to Catastrophes
Sep 21 2011 // As had been more or less predicted, Lloyd’s posted a £697 million [$1.094 billion] pre-tax loss for the first six months of 2011, compared to an overall profit of £628 million [$985.6 million] as of June 30, 2010....
Lloyd’s Bolt: Offshore Energy Underwriters Aren’t ‘Robustly Managing Risks’
Sep 21 2011 // In a keynote speech at the annual Houston Marine Insurance Seminar Tom Bolt, Lloyd’s Director of Performance Management, told an audience of energy insurers that he is not convinced offshore energy underwriters are...
