Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Names Patterson as New Controller of Agencies; Lawrence as Deputy
Jul 5 2011 // Lloyd’s announced that Mark Patterson has joined Lloyd’s as the new Controller of Agencies and David Lawrence has been promoted to Deputy Controller. Patterson joins Lloyd’s from a marine insurance career...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
People
Jul 4 2011 // Liberty Mutual Group’s Edmund F. Kelly retired from active management of the company on June 28, 2011. David H. Long replaced Kelly as president and CEO. Kelly will continue to serve as chairman of the board of...
Surplus Lines Sea Change: Calif.’s AB 315
Jul 4 2011 // California is expected to pass surplus lines regulations before July 21, 2011. On that date, the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) becomes effective, and only the “insured’s home...
Florida, Mississippi, Hawaii in Surplus Lines Pact
Jul 4 2011 // Florida, Mississippi and Hawaii have entered into an agreement that will allow them to keep millions of dollars in taxes on surplus lines insurance policies. The agreement was the result of federal legislation – the...
Lloyd’s Novae calls off Merger talks with Omega
Jul 1 2011 // Lloyd’s Novae Group plc announced that it has informed the advisers of Omega Insurance, another Lloyd’s insurer that it “has withdrawn from merger discussions.” Novae said it has “concluded...
Lloyd’s Sees Opportunities in Emerging Markets
Jul 1 2011 // As levels of international trade and the importance of emerging economies increase, Lloyd’s has been very active in its efforts to open up access to overseas markets. However, in an article on its web site it called...
Towing, Recovery Coverage Now Offered by Five Star Specialty Programs
Jun 30 2011 // Five Star Specialty Programs, a division of Crump Insurance Services, Inc., and part of Crump Group, Inc., has launched towing and recovery coverage, designed for professional towing and repossession industries. The...
Mitsui Sumitomo at Lloyd’s Names Rayner to Head P&C Underwriting
Jun 29 2011 // Mitsui Sumitomo at Lloyd’s has appointed Graeme Rayner as Head of Underwriting, Property and Casualty, in a move it described as designed to drive “growth in the UK and Irish markets.” Rayner, who was...
XL Names Mitchell as President of Excess and Surplus Unit
Jun 23 2011 // XL Insurance has named Roxanne Mitchell as president of its Excess and Surplus lines unit, reporting to Seraina Maag, chief executive, North America Property & Casualty. Mitchell will be based in XL’s Chicago...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Florida, Mississippi, Hawaii Sign Surplus Lines Tax Agreement
Jun 20 2011 // Florida, Mississippi and Hawaii have entered into an agreement that will allow them to keep millions of dollars in taxes on surplus lines insurance policies. The agreement was the result of federal legislation — the...
Surplus Lines Sea Change: Calif.’s AB 315
Jun 17 2011 // California is expected to pass surplus lines regulations before July 21, 2011. On that date, the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) becomes effective, and only the “insured’s home...
Ox Bonding Expands into Florida with Specialty Bonding Programs
Jun 16 2011 // Ox Bonding has expanded its specialty bonding programs into Florida. Ox Bonding’s affiliate insurance carrier, Upper Hudson National Insurance Co., has obtained approval from the Florida Office of Insurance...
A Look at Year-End 2010 Loss and Loss Adjustment Expense Reserve Adequacy
Jun 14 2011 // Loss and loss adjustment expense reserve development has traditionally been the focus of actuaries, auditors and financial analysts. Statutory insurance accounting financial reporting contains several measures that can be...
Best Affirms Hanover Insurance Group and Subs Ratings
Jun 14 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of The Hanover Insurance Group Property and Casualty Companies and its members....
P/C Insurance Industry Wins, Loses in Scott’s First Session
Jun 10 2011 // It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play for the last 72 hours. No matter how many committee meetings, no matter how many press conferences, no matter...
Lloyd’s Highlights Potential Impact from Cyber Crime, Data Loss
Jun 10 2011 // Cyber crime has become a high profile problem for risk managers, heightened as a result of the recent attacks by hackers on Sony. In an article on its web site Lloyd’s notes that risk manager are increasingly...
Lloyd’s Kiln Acquires 49% Stake in US-based WNC Holdings
Jun 10 2011 // Lloyd’s insurer and syndicate leader R.J. Kiln, a member of the Tokio Marine Group, announced that it has bought a 49 percent share in California-based WNC Holdings – a provider of specialty insurance products and...
Matt Koenig, CPCU Joins the Commercial Lines Team at Atlantic Specialty Lines of VA
Jun 10 2011 // Richmond, VA, 6/10/2011 – Atlantic Specialty Lines of VA is excited to announce the hiring of Matt Koenig as a commercial lines underwriter. Matt will be working from his location in NY and will be underwriting...
