Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Ark Syndicate Is Newest Lloyd’s MGA
Mar 20 2007 // Ark Syndicate Management opened for business as Lloyd’s newest managing agency. Ark will assume the management of Syndicate 4020 with a 2007 capacity of £114 million ($222 million). The new Syndicate “will...
Bay Area Man Sentenced for Selling Fake Policies
Mar 15 2007 // A former insurance broker/agent has been sentenced to 10 years in prison for the sale of approximately $6 million worth of fake insurance policies the broker falsely claimed were underwritten by Lloyd’s of London,...
Insurer Argonaut, Reinsurer PXRE to Merge, Forming Argo Group
Mar 15 2007 // Argonaut Group, Inc., a specialty underwriter, and PXRE Group Ltd., a Bermuda-based property reinsurer, have agreed to a merger under which the combined entity will do business as Argo Group International Holdings...
Lloyd’s Chairman Revues Asia’s Growth Prospects in Singapore Speech
Mar 12 2007 // Lord Peter Levene, Chairman of Lloyd’s, reminded an appreciative audience in Singapore that “Asia is an exciting place to be right now. Its expertise and knowledge, combined with its vast population and low...
The impact of contingent commissions on independent agencies
Mar 12 2007 // How much do independent agencies rely on contingency income and could they survive without it? Debate continues in the insurance industry regarding the future of contingent income. Any drastic changes in the current...
People
Mar 12 2007 // Markel Insurance Co. named Thomas K. “Smitty” Smith vice president of marketing. Smith joins Markel after three years as senior vice president and managing director of the Richmond, Va., branch of Riggs,...
The impact of contingent commissions on independent agencies
Mar 12 2007 // Debate continues in the insurance industry regarding the future of contingent income. Any drastic changes in the current compensation structure would have far-reaching effects throughout the industry and would impact...
Western Security Surplus Promotes Clinton to Broker
Mar 9 2007 // Pasadena, Calif.-based Western Security Surplus Insurance Brokers, Inc. has promoted Wendy M. Clinton to broker and will continue to work out of the Orange County office. She began her job as a receptionist at the Pasadena...
New Insurer Caters PUREly to Florida High Net Worth Clientele
Mar 7 2007 // Florida’s wealthy and privileged residents have a new personal lines insurer promising to save them money on premiums for their homes, cars and belongings. The company will sell property/casualty insurance for high...
Swiss Re Adds Excess Layer Coverage for Lawyers
Mar 6 2007 // Swiss Re’s Commercial Insurance launched a new product for excess layer coverage for law firms. The expanded coverage is designed to follow the form of the underlying policy, features a broad range of attachment...
Lloyd’s, FSA Approve Pembroke Managing Agency for Quanta
Mar 5 2007 // Bermuda-based Quanta Capital Holdings Ltd. announced that it has entered into definitive agreements with Chaucer Holdings PLC, the specialty Lloyd’s insurer, and the senior underwriting team of Syndicate 4000,...
Aon CEO Stresses Lloyd’s Need for ‘Speed of Access’
Mar 5 2007 // Greg Case, Aon’s president and CEO, told an attentive London audience (as summarized on the Lloyd’s web site – www.lloyds.com) that the City would retain its pre-eminence in the global risk and insurance...
Pacific Coast E&S Services moves to Santa Rosa, Calif.
Mar 5 2007 // Pacific Coast E&S Services has moved to a new office location in Santa Rosa, Calif. . The new address is:2235 Mercury Way, Suite 110 Santa Rosa CA 95407-5472. PHone, fax and e-mail addresses hace not changed.
OneBeacon Forms Government Risk Specialty Unit
Mar 2 2007 // OneBeacon Insurance Group is forming a specialty business that will target government entities with property and casualty products. Managing this business will be Josette Kiel, joined by Jeffrey Richardson and Bradley...
Lloyd’s Launches Malaysian Subsidiary
Mar 1 2007 // Lloyd’s Chairman Lord Peter Levene made a trip to Malaysia’s capital Kuala Lumpur to help launch the London Market’s new subsidiary there, Lloyd’s Labuan Limited, and the upgrading of its...
Chicago Specialty Underwriters Report 4th Quarter, Year-end Results
Feb 28 2007 // Specialty Underwriters’ Alliance, Inc. has announced financial results for the fourth quarter and year ended December 31, 2006. Highlights for the year ended December 31, 2006 include: * Gross written premium growth...
Lloyd’s Hardy Licenses Use of AIR’s Cat Models
Feb 28 2007 // Boston-based AIR Worldwide Corporation announced that Hardy (Underwriting Agencies) Limited, a subsidiary of Hardy Underwriting Group plc, has licensed AIR’s catastrophe risk management systems. Hardy, a prominent...
Third-generation industry executive shares insight on regulatory matters
Feb 26 2007 // Sullivan discusses reinsurance collateralization, surplus lines regulation reform Gerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead...
A look behind the very good P/C results for 2006
Feb 26 2007 // The numbers, or estimates, for the property casualty insurance industry for 2006 are in. Dr Robert Hartwig, president and chief economist of the Insurance Information Institute, discussed them with Insurance...
A look behind the very good P/C results for 2006
Feb 26 2007 // The numbers, or estimates, for the property casualty insurance industry for 2006 are in, and Dr. Robert Hartwig, president and chief economist of the Insurance Information Institute, discussed them with Insurance...
