Latest Excess Surplus Headlines

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...

California Commissioner says insurers earning ‘excess profits’

Jun 5 2006 // News Currents 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...

ACE USA Promotes Sherry to Senior VP-Global Property

Jun 1 2006 // ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, announced the promotion of Joseph Sherry to Senior Vice President, Global Property, part of ACE USA’s International & Specialty...

U.S. and Insurers Can Withstand Hurricanes Without Taxpayer Funds, Says Lloyd’s U.S.

Jun 1 2006 // Residents of the Northeast coast “ignore the hurricane threat at their peril,” a leading insurer is warning. At the same time, Wendy Baker, president of Lloyd’s America, says she is confident that the...

Ohio-based International Excess Acquires WSIB Motorsports Insurance

May 31 2006 // Cleveland, Ohio-based International Excess Companies has announced the acquisition of WSIB Motorsports Insurance of Indianapolis, Ind., effective March 1, 2006. With offices in Indianapolis, as well as in the states of...

Quanta Puts Specialty Lines into Runoff; Retains Lloyd’s, ESC Business

May 26 2006 // Bermuda-based Quanta Capital Holdings Ltd. announced that “following the evaluation of strategic alternatives, and in consultation with its financial advisors, the Board has decided to cease underwriting or seeking...

Praetorian to Acquire Surplus Lines Insurer Alea North Ammerica

May 26 2006 // Specialty insurer Praetorian Financial Group said it has agreed to acquire Alea North America Specialty Insurance Company (ANASIC), an affiliate of Alea Group Holdings (Bermuda) Ltd of Hamilton, Bermuda. ANASIC is a...