Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Casino Magnate Wynn Pokes Lloyd’s Over Damaged Picasso Offer
Jan 15 2007 // The casino magnate who accidentally poked a hole in a Picasso painting said insurer Lloyd’s of London has offered to settle his $54 million claim of lost value, but the talks aren’t going the way he’d...
James Leaving Lloyd’s for Lockton
Jan 15 2007 // Lloyd’s has announced that Julian James, its director of Worldwide Markets, will be leaving at the end of April to join Lockton International. Lloyd’s CEO Richard Ward, issued a written statement, distributed...
Best Affirms Lloyd’s Syndicate 2007 Ratings; Syndicate 1007 Withdrawn
Jan 15 2007 // A.M. Best Co. has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating of “a” of Lloyd’s Syndicate 2007 (formerly known as Lloyd’s Syndicate 2147), managed by...
Lloyd’s Chief Says Insurers Must Take Action on Climate Change Issues
Jan 12 2007 // Insurers must address global climate change as they cope with the growing cost of extreme natural disasters, said Lord Peter Levene, chairman of Lloyd’s, the London insurance market. “We cannot risk being in...
Chicago Specialty Underwriters’ Alliance Expands with Workers’ Comp Partner
Jan 12 2007 // Chciago-based Specialty Underwriters’ Alliance, Inc. announced recently that it amended its Partner Agent Program Agreement with Appalachian Underwriters, Inc. (AUI) to include small employers workers’...
Tony Markel Comments on Lloyd’s
Jan 10 2007 // Tony Markel, president and COO of Markel Corporation, has expressed his satisfaction at the progress Lloyd’s has made and the London market’s current strong financial condition. In a comment on the...
Best Affirms Lloyd’s Syndicate 382 Ratings; Assigns Ratings to Hardy Underwriting Group
Jan 9 2007 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382, managed by Hardy (Underwriting Agencies) Ltd....
Argonaut Group Adds Vezzosi as Chief Operating Officer
Jan 9 2007 // Argonaut Group Inc., based in San Antonio, announced that Gregory M. Vezzosi has joined the organization as executive vice president and chief operating officer. Vezzosi will report to Mark E. Watson III, president and...
Mitsui Establishes Lloyd’s Agency
Jan 8 2007 // Mitsui Sumitomo Insurance Underwriting at Lloyd’s Ltd. (MSI) has launched its own Lloyd’s managing agency. According to a bulletin on the Lloyd’s web site (www.lloyds.com) it’s the first Japanese...
Consumer Federation: Insurers Increase Profit Levels by Overpricing Policies
Jan 8 2007 // National consumer organizations joined the Consumer Federation of America (CFA) today in Washington D.C. to release a new study concluding that the property/casualty insurance industry (which includes the nation’s...
Private equity market increasingly bullish on insurance and E&S
Jan 8 2007 // Historically, the insurance sector has not been high on the list of preferred investments for private equity markets, but since 2001 interest in insurance and reinsurance has been on the rise, not only with private equity...
Former R.I. Gov. Sundlun and Lloyd’s at odds
Jan 8 2007 // The London insurance market Lloyd’s has sued former Rhode Island Gov. Bruce Sundlun, accusing him of failing to pay about $300,000 in principal and interest. But Sundlun says he doesn’t owe Lloyd’s any...
Former R.I. Gov. Sundlun and Lloyd’s at odds
Jan 7 2007 // The London insurance market Lloyd’s has sued former Rhode Island Gov. Bruce Sundlun, accusing him of failing to pay about $300,000 in principal and interest. But Sundlun says he doesn’t owe Lloyd’s any...
Lloyd’s Endorses New Reinsurance Dispute Resolution Protocol
Jan 3 2007 // Lloyd’s has endorsed a new International Reinsurance Industry Dispute Resolution Protocol, which it notes “provides the insurance industry with an alternative to a court case or a lengthy arbitration if a...
Lloyd’s Comments on ‘Quiet’ 2006 Hurricane Season
Dec 29 2006 // Munich Re isn’t the only major insurance organization to express the industry’s collective sigh of relief as the year 2006 expires with relatively few major catastrophe losses (See related article above)....
Lloyd’s ECF System Moves Forward
Dec 28 2006 // Lloyd’s has announced that all of its “managing agents writing subscription business who would use the new Electronic Claims File [ECF] initiative have agreed to the rules governing the...
Absence of Hurricane Losses Proves Beneficial to Insurers’ Bottomline
Dec 27 2006 // Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through nine months. The net gain on...
Lloyd’s Sues Former R.I. Gov. Sundlun, Who Denies Owing Funds
Dec 27 2006 // The London insurance market Lloyd’s has sued former Rhode Island Gov. Bruce Sundlun, accusing him of failing to pay about $300,000 in principal and interest. But Sundlun says he doesn’t owe Lloyd’s any...
Best Affirms Lloyd’s Adriatico ‘A+’ Ratings
Dec 26 2006 // A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa-” of Italy’s Lloyd Adriatico S.p.A., a subsidiary of Allianz SE (See related...
2006: a big year for P&C buyers and sellers of all shapes and sizes
Dec 25 2006 // JANUARY Hallmark Aquires Aerospace Holdings Fort Worth, Texas-based Hallmark Financial Services Inc. has completed its acquisition of Aerospace Holdings LLC, which markets general aviation insurance products. Hallmark...
