Latest Excess Surplus Headlines

Jan 28 2007 // People Citizens Property Insurance Corp.’s board of governors voted unanimously to recommend interim President Scott Wallace be appointed to the post permanently. Wallace was selected from more than 70 candidates by...

Private equity market bullish on E&S brokers

Jan 28 2007 // By mid-November more than $500 billion in private equity transactions had occurred in 2006, $100 billion in Oct. 2006 alone, according to Andrew Rosen, a partner with private equity firm HM Capital Partners. Dallas-based...

8 Customer satisfaction doesn’t guarantee agent, insurer loyalty

Jan 28 2007 // U.S. has second-highest level of satisfaction 9 Calif. Commissioner Poizner sworn in Vows to keep office independent, nonpartisan 10 Calif. declares claims emergency Freezing temperatures create citrus losses 12 Biggest...

A look behind the very good P/C results for 2006

Jan 28 2007 // This is the most remarkable statistic of all. The combined ratio we estimate to be about 94 for the year. That would be the best result since 1955. News Currents The numbers, or estimates, for the property casualty...

8 N.Y.’s Interboro Mutual’s back in

Jan 28 2007 // Long Island insurer reborn as stock insurer 8 Delaware agents groups to merge Group will be both Big ‘I’ and PIA 8 Mass. Diocese gives files to insurers Insurers may review handling of abuse cases 10 Royal...

10 Injured Ark. trucker wins court order for rehearing

Jan 28 2007 // Judge criticizes state Workers’ Compensation Commission 10 Accused of insurance fraud, La. police officer resigns Change in accident report at issue 10 La. Citizens gets nod to raise rates Statewide average...

AAMGA Leaders Conclude ‘Fact-Finding’ London Trip

Jan 26 2007 // Insurance may be local, but it doesn’t have to be handled exclusively in the state, or even the country, where it’s needed. For the surplus lines market that means Lloyd’s, which explains the annual visit...

Best Affirms Lloyd’s Syndicate 570 Ratings

Jan 26 2007 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of “A” (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 570, which is managed by Atrium Underwriters Limited,...

Best Affirms Lloyd’s Syndicate 609 Rating; Atrium’s ICR

Jan 26 2007 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 609, which is managed by Atrium Underwriters...

Lloyd’s Chairman Praises Indian Initiative to Open Markets

Jan 19 2007 // Gordon Brown, The UK’s Chancellor of the Exchequer (Finance Minister) and odds-on favorite to succeed Tony Blair as Prime Minister, has apparently come away with some success during his working visit to...

AXIS Reorganizes; Reding Named COO

Jan 18 2007 // Bermuda’s AXIS Capital has announced a strategic reorganization “to further strengthen the global operations of AXIS Insurance,” starting with the appointment of Dennis Reding, currently that...

Markel Offers New ‘Follow Form Excess’ Product

Jan 15 2007 // Markel Underwriting Managers, Inc.’s (MUM) Environmental Division has released a new excess product. The Follow Form Excess product (FFE) will be considered when writing over accounts where MUM’s Environmental...

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...