Latest Excess Surplus Headlines

Lloyd’s Chairman Tells ALM Conference More Efforts Needed

Jun 26 2006 // Lloyd’s Chairman, Lord Peter Levene, described a bright future, but one that needs work to be achieved, for those attending the 2006 conference of the Association of Lloyd’s Members (ALM) last week. He stressed...

Aon U.K. Commits to Full Electronic Trading in Specialty, Reinsurance

Jun 23 2006 // In a breakthrough move, Aon U.K., announced that it “will move to a full electronic trading capability during 2006 for its specialist insurance and reinsurance businesses.” Aon’s London-based operation...

Lloyd’s Interviews Marsh’s Matanle on Broker Competitiveness

Jun 21 2006 // The Lloyd’s Website (www.lloyds.com) features an interview with Stephen Matanle, global markets leader at Marsh and Chair of the London Market Insurance Brokers’ Committee (LMBC), about the challenges facing...

Brokers Support New Federal Bill to Reform Surplus Lines Insurance Regulation

Jun 20 2006 // In a step that is being applauded by insurance brokers, Reps. Ginny Brown-Waite, R-FL, and Dennis Moore, D-KS, have introduced federal legislation requiring states to establish a uniform system of regulation for the...

People

Jun 19 2006 // InsurBanc, a financial services provider to the independent insurance agency community, announced that Scott A. Adamsons has joined the company as vice president of sales and business development. The Farmington,...

Lloyd’s forecast for Northeast: Storms, global warming threats are real

Jun 19 2006 // The prospect of another nasty hurricane season has everyone in the insurance industry braced for a white-knuckle ride. The spectre of a hurricane hitting a major Northeast population center is hardly the stuff of Hollywood...

Florida Homeowners’ Insurers

Jun 19 2006 // Current Florida Financial DPW 2005 Stability Designation Company Name in 000s Rating FL Specialty Encompass Floridian Indemnity Co. $4,437 A FL Specialty Encompass Floridian Insurance Co. $16,059 A FL Specialty Nationwide...

Jun 19 2006 // People PMA Insurance Group has promoted Elaine Manchon to assistant vice president for commercial markets underwriting. Manchon, who will join PMA’s corporate headquarters staff in the company’s Blue Bell,...

Jun 19 2006 // People Scott A. Adamsons joined InsurBanc as vice president of sales and business development. The Farmington, Conn.-based company also hired Marie R. Rider to be vice president and director of marketing. Adamsons will...

IAG Acquires New Lloyd’s MA – Specialist Asian Insurer

Jun 15 2006 // Insurance Australia Group Limited (IAG) announced that it has acquired a newly-formed Lloyd’s managing agency and specialist Asian syndicate, Alba Group Pte Limited, to “support the development and management...

XL Specialty Targets Armored Car Industry with Multi-Line Program

Jun 15 2006 // XL Specialty Insurance Company has introduced a multi-line insurance program especially designed for the armored car industry and other business transporting high-value cargo. The program was introduced this week at the...

Specialty Risk Names Steck Midwest Director

Jun 14 2006 // Hartford, Conn.-based Specialty Risk Services, a property-casualty third party administrator for workers’ compensation and liability claims, announces the appointment of Jeffrey Steck as director, New Business...

Hull & Co. Acquires Assets of Excess & Surplus Lines Insurance Brokers

Jun 14 2006 // Hull & Co.Inc. has acquired the assets of Excess and Surplus Lines Insurance Brokers Inc., located in Sherman Oaks, Calif., with revenue of approximately $2 million. “This is a great acquisition for us as it...

Quanta in Deal with Lloyd’s Chaucer to Manage Syndicate 4000

Jun 9 2006 // Quanta Capital Holdings Ltd. has signed a non-binding “Heads of Agreement” with Chaucer Holdings PLC, a specialist Lloyd’s insurer, and the senior underwriting team of Syndicate 4000 under which a new...

Lord Levene Sets Lloyd’s and London’s Priorities for Fellow Peers

Jun 9 2006 // In a speech to the House of Lords, given as part of a discussion on “London as a World Financial Center,” Lord Peter Levene stressed the financial health and leading position of both London and the...

Prime Places $15 Million in Trust Preferred Securities

Jun 9 2006 // Salt Lake City, Utah – Prime Holdings Insurance Services, Inc. announced that it successfully placed $15 million in 30 year Trust Preferred Securities with the assistance of U. S. RE Securities, LLC through FTN...

Best Downgrades/Withdraws Quanta Ratings; Company Comments

Jun 8 2006 // A.M. Best Co. has downgraded the financial strength ratings (FSR) to “B” (Fair) from “B++” (Very Good) and the issuer credit ratings (ICR) to “bb” from “bbb” for the...

Conn. Asks XL Insurance to Review Use of Defaulted Contractor

Jun 7 2006 // Connecticut Governor M. Jodi Rell has asked XL Specialty Insurance Co. of Stamford, the insurer of former road contractor L.G. DeFelice, to reconsider its decision to assign two unfinished state Department of...

Baby-Boomer FIC is 60 Years Old!

Jun 5 2006 // Unitrin parent pioneered specialty insurance for WWII veterans DALLAS, TEXAS- April 20, 2006 — Between 1946 and 1964, over 75 million Americans, who collectively became known as the baby boomers, were born. The first...

California Commissioner says insurers earning ‘excess profits’

Jun 5 2006 // California Insurance Commissioner John Garamendi has released a new report, “Lower Claims, Higher Profits: Where Do Your Premium Dollars Go?” on the profitability of homeowners and private passenger automobile...