Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Analyzes Southeast Asia Terrorism Threat
Feb 22 2008 // Lloyd’s has warned that businesses operating in Southeast Asia “need to better understand that the Asian terrorism threat is unique, complex and specific to the region.” Lloyd’s and the...
Meadowbrook to Acquire Specialty Insurer ProCentury in $273M Deal
Feb 21 2008 // Michigan-based Meadowbrook Insurance Group, Inc. reported it will acquire ProCentury Corp. in a transaction valued at approximately $272.6 million in cash and stock to be paid to ProCentury shareholders. Under the terms of...
Lloyd’s Poll Finds Financial Instability is Main 2008 Risk
Feb 20 2008 // According to a recently conducted survey of 138 underwriters, Lloyd’s found that the instability of global financial markets is the single factor that will have the most impact on the insurance industry during 2008....
Lloyd’s Market Reform Group Sees End of Paper Processing
Feb 20 2008 // The slipcases at Lloyd’s are slowly going the way of the buggy whip. In a recent announcement the Market Reform Group (MRG) published details of the arrangements which, it said, “will see the end of paper...
Hayden Joins Specialty Unit of Berkley Net Underwriters
Feb 20 2008 // Bruce hayden has joined the online insurer Berkley Net Underwriters in its business development unit. As director of Specialty Markets, Hayden will lead BerkleyNet’s effort to expand its focus on specialty niche...
‘Managing the Cycle’ Remains #1 Priority Lloyd’s Survey Finds
Feb 19 2008 // Lloyd’s has published its fourth annual underwriting survey, which reveals that “managing the insurance cycle remains the most important issue for the industry in 2008 with 93 percent of underwriters believing...
Max Specialty Insurance to Offer Coverage in La.
Feb 19 2008 // Max Specialty Insurance Company, an excess and surplus lines company headquartered in Richmond, Va., announced it is now authorized to write business in Louisiana. With the addition of Louisiana, Max Specialty is now an...
Best Affirms Hardy’s Lloyd’s Syndicate ‘A’ Ratings
Feb 14 2008 // A.M. Best Co. has affirmed its Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’ s Syndicate 382, which is managed by Hardy Underwriting Agencies Ltd....
Lloyd’s Applies for Brazil Re License
Feb 14 2008 // Lloyd’s plans to expand in Brazil and is in the process of making a formal application to be an admitted reinsurer in the country. Its first representative office will be in Rio de Janeiro. Lloyd’s Chairman,...
Quanta to Sell Remaining Lloyd’s Interests to Chaucer
Feb 11 2008 // Bermuda-based Quanta Capital Holdings Ltd. has announced that it has entered into an agreement for the sale of all of its interests at Lloyd’s to Chaucer Holdings PLC. The Company expects to close this transaction...
Texas Supreme Court Reverses <em>Frank’s Casing</em> Ruling
Feb 8 2008 // The Texas Supreme Court on Feb. 1 handed down a long awaited ruling in a case that many believe to be one of Texas’ most significant insurance cases in recent history. The Court reversed its May 2005 decision in...
Lloyd’s Renews Council and Franchise Board Seats
Feb 7 2008 // Lloyd’s announced that Lord Peter Levene has been re-appointed as Chairman of Lloyd’s. Ewen Gilmour and Graham White were re-appointed as Deputy Chairmen of Lloyd’s and Bill Knight was re-appointed as...
How E&S Brokers Thrive and Survive in Today’s Soft Market
Feb 1 2008 // For excess and surplus lines brokers, identifying available insurance markets not sought by the standard market may be the key to surviving and thriving in the soft market. The answer to growth in a soft market is simple,...
Langley Lauds Lloyd’s Market Reform Group Progress
Jan 31 2008 // Sue Langley, Lloyd’s Director of Market Operations and North America, lauded the progress, detailed in a recently released report from the Lloyd’s Market Reform Group (MRG), which is charged with modernizing...
Société Générale Crisis Highlights ‘Rogue Trader’ Risk Warns Lloyd’s
Jan 30 2008 // The ongoing crisis at the second largest French bank, Société Générale, has prompted Lloyd’s to remind the financial community of some unfortunate facts. The bank lost €4.9 billion, or $7.25 billion, after it...
Markel Reports Another Good Year; Combined Ratio at 88%
Jan 28 2008 // Richmond, Va.-based specialty insurer Markel Corp. reported that its 2007 combined ratio was 88 percent compared to 87 percent in 2006. Comprehensive income for 2007 was $337.0 million compared to $550.8 million in...
Lloyd’s 2008 Underwriting Capacity at $31.66 Billion
Jan 28 2008 // In a brief announcement Lloyd’s confirmed that as of the 1st of January the underwriting capacity of its 75 operating syndicates totaled £15.95 billion ($31.66 billion). The syndicates are managed by 46 Managing...
Lloyd’s Defends Insurers Against ‘Spoilsport’ Image
Jan 27 2008 // An increasingly common complaint against the insurance industry charges that it is largely responsible for the disappearance of traditional events and activities due to the unavailability and/or the increasing cost of...
Consumer Group Claims Insurers Overcharge, Underpay Policyholders
Jan 27 2008 // Insurers defend recent years’ profits, deny allegations and call national consumer group’s report ‘fatally flawed’ A national consumer organization has charged that property casualty insurers are...
People
Jan 27 2008 // Zurich named Kevin Dunham senior vice president and global relationship leader for the western region of its Global Corporate in North America Business unit. Dunham is based in Glendale, Calif., and will manage accounts...
