Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
People Moves: Aspen Taps SiriusPoint’s Mardon as Global Head of Property Catastrophe; CNA Hardy Appoints Marsh’s Berman as Head of Specialty
Nov 3 2023 // This edition of International People Moves details appointments at Aspen Insurance Holdings and CNA Hardy. A summary of these new hires follows here. Aspen Taps SiriusPoint’s Mardon as Global Head of Property...
London SPAC to Test Shareholder Appetite for Lloyd’s of London Venture
Oct 31 2023 // Financials Acquisition Corp. said Monday it would ask shareholders to back its planned merger with its newly formed insurance venture, in a test of investor appetite for new stocks. The special purpose acquisition company...
Markets/Coverages: Digital Lloyd’s Syndicate Ki Partners With Travelers and Aspen to Expand Follow Capacity
Oct 18 2023 // Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced that Travelers and Aspen will offer additional follow capacity through its digital platform from Jan. 1, 2024. As a result of this...
Markets/Coverages: Green Shield Introduces Specialty Homeowners Platform With INSTANDA
Oct 18 2023 // Chicago-based Green Shield Risk Solutions has announced the introduction of its specialty homeowners insurance platform built with INSTANDA. Brought to market in just over 90 days, the platform enables quoting, binding and...
Major Cyber Attack Could Cost Global Economy $3.5 Trillion: Lloyd’s
Oct 18 2023 // A cyber attack on a major financial services payments system could result in widespread business disruptions, potentially costing the global economy $3.5 trillion over a five-year period, according to research from...
Oka Gets ‘In Principle’ Approval to Launch Lloyd’s Syndicate-in-a-Box 1922
Oct 17 2023 // Asta, the leading third-party managing agent at Lloyd’s, and Oka, the Carbon Insurance Company, announced that Lloyd’s has granted “in principle” approval for Oka syndicate-in-a-box (SIAB) 1922. Oka...
Global Economic Losses From Extreme Weather Could Hit $5 Trillion: Lloyd’s
Oct 11 2023 // Global economic losses could reach $5 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages, insurance marketplace...
Illinois’ Dover Bay Specialty Insurance Company Downgraded by AM Best
Oct 6 2023 // AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a” (Excellent) of Dover Bay...
Markets/Coverages: Coalition Exec Risk Insurance Now on Surplus Paper; ISO Adds 160 New BOP Classifications; MGU Verita Launches
Oct 5 2023 // Coalition’s Executive Risks Insurance Now Available On Surplus Lines Paper Coalition announced its executive risks insurance products are now available on surplus lines paper, making comprehensive management...
As Trial Opens, FTX’s Bankman-Fried Battles Excess Insurer Over D&O Coverage
Oct 4 2023 // Just two days before his criminal trial started this week in federal court in New York, FTX Trading founder Sam Bankman-Fried filed suit in federal court in California against his excess insurance company seeking payment...
For the Fifth Straight Year, Surplus Lines Sees Double-Digit Growth: AM Best
Oct 2 2023 // Total U.S. surplus lines direct premiums written (DPW) rose by 19.2% to reach a record $98.5 billion in 2022, marking a five-year streak of double-digit growth rate increase, according to a new AM Best report. Best’s...
RT Specialty Expands RT Connector for Small Commercial Market
Sep 28 2023 // RT Specialty, the wholesale distribution division of Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, announced its continued expansion of RT Connector, which provides digital solutions for...
West Virginia Regulator Wants Input on Surplus Lines Export List
Sep 25 2023 // The West Virginia Office of Insurance Commissioner is accepting comments on potential changes to the state’s surplus lines export list, through Oct. 16. By state law, the office maintains a list of coverages and...
Lloyd’s Cyber Specialist Trium Cyber Opens London Office, Led by Aspen’s Watson
Sep 22 2023 // Trium Cyber, a Lloyd’s cyber specialist, announced that the US-based company has opened a London office to write coverage for clients based outside of the US. “Our advanced technical underwriting, outstanding...
Lloyd’s and the UN Team Up to Provide Insurance to Climate Vulnerable Countries
Sep 21 2023 // Lloyd’s of London is teaming up with the United Nations Capital Development Fund (UNCDF) to try and improve access to insurance for climate vulnerable countries, with an initial focus on Fiji and Pacific island...
Markets/Coverages: Specialty MGA Nirvana Launches European W&I Binder
Sep 20 2023 // Nirvana, the London-based media, tech and cyber managing general agent (MGA), has launched its new European SME Warranty and Indemnity (W&I) binder. The team has a total available line size of €20 million ($21.4...
Markets/Coverages: Canopius Expands Into US Excess Casualty Market
Sep 19 2023 // Canopius Group, the London-based specialty re/insurer, announced the strategic expansion of its U.S. casualty business with its entry into the domestic U.S. excess casualty market on Canopius U.S. Insurance Co....
Private Equity Firm CVC Invests in Dale Underwriting to Boost Growth at Lloyd’s
Sep 18 2023 // Dale Underwriting Partners, the trading name for Dale Managing Agency’s Lloyd’s Syndicate 1729, has agreed a strategic partnership with CVC, a leading global private markets manager with €161 billion of...
For the Fifth Straight Year, Surplus Lines Sees Double-Digit Growth: AM Best
Sep 14 2023 // Total U.S. surplus lines direct premiums written (DPW) rose by 19.2% to reach a record $98.5 billion in 2022, marking a five-year streak of double-digit growth rate increase, according to a new AM Bestreport. The new...
People Moves: RT Specialty Promotes Mitchell to President of Workers’ Comp Practice; Wu Joins Axis as Head of N.A. Specialty Markets Distribution
Sep 13 2023 // RT Specialty Promotes Mitchell to President of Workers’ Compensation Practice RT Specialty promoted Jim Mitchell to national workers’ compensation practice president. Mitchell has been with RT Specialty since...
