Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped in 3rd Quarter
Jan 13 2008 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
HCC Puchases MultiNational; Launches Lloyd’s Syndicate
Jan 11 2008 // Houston-based insurer HCC Insurance Holdings has launched Lloyd’s Syndicate 4141 with an initial capacity of $24 million. It will write business on behalf of MultiNational Underwriters (MNU), the Indianapolis-based...
Lloyd’s GCube Promotes Growth in Renewable Energy Sector
Jan 11 2008 // “GCube, the insurance entity spun out of Lloyd’s managing general agency WindPro, has opened its doors to business on both sides of the Atlantic,” notes a bulletin on the Lloyd’s web site...
Insurers Defend Profits; Deny They Overcharge, Under-deliver on Home, Auto Policies
Jan 11 2008 // A national consumer organization has charged that property/casualty insurers are unfairly overcharging for home and auto insurance at the same time they are reducing payments to insureds. According to the Consumer...
Clark Joins Western Security Surplus Insurance Brokers in Dallas
Jan 10 2008 // Jason Clark has joined the Dallas office of Western Security Surplus Insurance Brokers Inc. (WSS) as an associate broker, the company announced. Reporting to WSS President and CEO Kyle Stevens, Clark will be responsible...
Lloyd’s Economist Analysis of 2008 Finds “Instability”
Jan 9 2008 // A research study, commissioned by Lloyd’s and the Economist Intelligence Unit in 2007, found that “54 percent of business leaders felt that the risk to their company of political violence and terrorist activity...
Lloyd’s Becomes Chile’s First ‘Approved Foreign Insurer’
Jan 7 2008 // Lloyd’s announced that it has become the first foreign entity to take advantage of a recent regulatory change in Chile’s insurance practice. Following the signing of a Free Trade Agreement in 2007...
Lloyd’s Defends Insurers Against ‘Spoilsport’ Image
Jan 4 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...
Western Security Surplus Texas Adds Market for Nightclubs, Concerts
Jan 4 2008 // Western Security Surplus Texas announced it now has a market for restaurants, taverns, bars, nightclubs, concerts, and gentlemen’s clubs. In the announcement, Ron Klimek, vice president, Marketing and Business...
HCC Acquires MultiNational Underwriters; Approved for Lloyd’s Syndicate
Jan 3 2008 // Houston-based HCC Insurance Holdings Inc. announced it acquired Indianapolis, Ind.-based MultiNational Underwriters LLC (MNU), which specializes in international life, accident and health insurance, offering coverage to...
Mass Toy Recalls – a Manufacturers’ Nightmare
Dec 31 2007 // Although this year’s presents have long been opened, those who supply them have concerns that just won’t go away. “In the run-up to Christmas, there can have been few more worrying issues for toy...
Lloyd’s Insurers Consider Coverage for Commercial Space Flights
Dec 28 2007 // A bulletin on the Lloyd’s web site (www.lloyds.com) notes that the State of New Mexico and Virgin Galactic recently announced plans to construct a “multi-million pound spaceport.” As a result...
Brazil Relaxes Collateral Requirements for ‘Alien Reinsurers’
Dec 27 2007 // Brazil has become the latest jurisdiction to relax collateral requirements as countries begin to see the benefit of well-capitalized investment from foreign reinsurers, notes a bulletin on the Lloyd’s web site...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped
Dec 27 2007 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
Lloyd’s Offers ‘Grinch’ Coverage
Dec 24 2007 // After 319 years in the business, Lloyd’s has probably insured just about everything. So it’s not surprising that this Christmas the venerable institution is offering “the first and only insurance policy...
2007: Climate Change Dominates Debate While Soft Market Hits Entire P/C Market
Dec 23 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
Baker Steps Down as Head of Lloyd’s U.S.
Dec 19 2007 // Wendy Baker, president of Lloyd’s U.S. operations, has decided to leave the organization at the end of December. Baker has held the post for nine years. According to Sue Langley, head of Lloyd’s Market...
American Financial Takes 67% Stake in Lloyd’s Marketform
Dec 18 2007 // Lloyds’s insurer, Marketform Group Limited, which specilizes in non-US medical malpractice and other specialty lines, announced that American Financial Group Inc. (AFG) is to become the majority shareholder in its...
IBA West Offers Workers’ Comp Specialty Programs
Dec 17 2007 // IBA West Service Corp. and AmWINS Access have teamed to offer a specialty workers’ compensation program for IBA West member brokers and agents and their construction, trucking and security guard clients. Coverage is...
Japan’s Millea Group to Buy Lloyd’s Kiln for $898 Million
Dec 14 2007 // The boards of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), the main operating companies of Japan’s Millea Group, and Bermuda-based Kiln Ltd. , a major Lloyd’s insurer, announced that they have...
