Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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...
Lloyd’s Renews ‘Three-Year Plan’
Dec 13 2007 // Lloyd’s has published its new 2008 – 2010 Three-Year Plan, which aims to build on its past success. CEO Richard Ward praised the achievements of Lloyd’s to date but urged caution as market conditions...
Lloyd’s Comments on Florida Changing Reinsurance Collateral Rules
Dec 12 2007 // Lloyd’s Director & General Counsel Sean McGovern, called Florida’s decision to explore making changes in the collateral insurance requirements for foreign, or “alien,” reinsurers, such as...
Lloyd’s Nanotechnology Conference and Report Examines New Risks
Dec 11 2007 // Lloyd’s held its first ever seminar on nanotechnology on Monday, Dec. 10. The conference was organized in cooperation with the Lighthill Risk Network, (http://www.lighthillrisknetwork.org), a non-profit organization...
Campbell Joins Maverick Surplus Lines as Marketing/Sales Director
Dec 6 2007 // Toni Campbell is the new Marketing and Sales director for Dallas-based Maverick Surplus Lines Inc., a specialist in wholesale nonsubscriber program business and services. Campbell will be responsible for appointing new...
Chicago Specialty Underwriters Names New VP, Chief Underwriting Officer
Dec 4 2007 // Specialty Underwriters’ Alliance, Inc. (SUA) announced that Daniel Cacchione has been appointed as vice president and chief underwriting officer of Chicago-based SUA Insurance Co., the sole operating subsidiary of...
Tolle Rallies Lloyd’s Troops to ‘Stand Firm as Cycle Slips’
Nov 30 2007 // In an article on the Lloyd’s web site Franchise Performance Director Rolf Tolle noted that “Lloyd’s companies are demonstrating a strong commitment to managing the underwriting cycle as market conditions...
Trinity E&S Names Tanner Underwriter
Nov 27 2007 // Trinity E&S Insurance Services Inc. based in Bermuda Dunes, Calif., has named Phil Tanner an underwriter responsible for commercial lines. He will handle the territories of California, Nevada and Arizona.
Lloyd’s Conference to Address Opportunities/Risks of Nanotechnology
Nov 26 2007 // The insurance industry is normally concerned with the very large – hurricanes, earthquakes, fires, etc.- but there’s increasing awareness that it should also be concerned about the very small. Nanotechnology is...
Insurance Isn’t Dull, Says Kiln’s Creasy
Nov 19 2007 // Kiln’s Chief Executive Edward Creasy in his speech to the Insurance Institute of London (IIL) this week, sent a strong, and much needed message. As reported on the Lloyd’s web site (www.lloyds.com) , he said...
