Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Best Assigns FSR to Wellington Specialty
Nov 24 2004 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Wellington Specialty Insurance Company (Scottsdale, Ariz.) (Wellington Specialty), a...
Focus on the Future: Come 2014, Industry Should Look Very Familiar
Nov 22 2004 // PCI Execs Contend Current Players Will Adapt to Maintain Advantages Ten years from now, some of the players within the property/casualty insurance industry will have changed but the industry itself will not look...
Best Affirms Ratings of Lloyd’s Syndicate 510
Nov 19 2004 // A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 510, which is managed by the U.K.-based R J...
Best Withdraws Ratings on Tryg-Baltica, Lloyd’s Syndicate 1243
Nov 18 2004 // A.M. Best Co. announced that it has withdrawn ratings on Denmark’s Tryg-Baltica International Insurance Company A/S and Lloyd’s Syndicate 1243, as they have been placed into run off. Both companies, who are not...
Specialty Underwriters’ Alliance Prices IPO
Nov 18 2004 // Dallas-based Specialty Underwriters’ Alliance Inc. announced the pricing of its initial public offering of 12,700,000 shares of its common stock at $9.50 per share, before underwriting discounts and commissions. The...
ACE Announces Executive Changes in Europe, Bermuda
Nov 16 2004 // Bermuda’s ACE Limited has announced several executive appointments, as follows: — Andrew Kendrick, currently president and CEO of ACE Bermuda, has been named chairman and CEO of ACE European Group. —...
N.J.’s NIP Specialty Brokerage Adds Young, Silverman
Nov 16 2004 // NIP Specialty Brokerage LLC of Woodbridge, N.J. has added two senior brokers to its growing team. Shawn Young is a casualty insurance specialist with experience in general liability, products liability, auto liability and...
Lloyd’s Sets Terms for $943 Million Debt Issue
Nov 11 2004 // Lloyd’s has set the terms for its subordinated debt issue, following a successful presentation to potential investors. “The transaction met with a very positive response from a wide range of quality...
ACE USA Names Germano Senior VP for Excess Casualty and Custom Casualty
Nov 10 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the appointment of Connie Germano as senior vice president to lead the Excess Casualty and Custom Casualty businesses. Germano will...
Jail Time for Consultant Nabbed Selling Policies Under Lloyd’s Name
Oct 29 2004 // Robert Damon-Aspen has been jailed for two and a half years for deception conducted through his internet-based insurance intermediary business CFT Group Insurance Services. He reportedly used the Internet to take premiums...
London’s Muted Reaction to Spitzer Investigations
Oct 28 2004 // The London market in general and Lloyd’s in particular has not been overly verbose in commenting on New York State Attorney General Eliot Spitzer’s ongoing investigation of the insurance industry. Apart from a...
St. Paul Travelers Looks to Bring Top Line in Commercial Up as it Unveils Q3 Report
Oct 28 2004 // The St. Paul Travelers Cos. Inc. (NYSE:STA) has reported net income of $340 million for the third quarter ended Sept. 30, 2004, or $0.51 per basic share and $0.50 per diluted share, compared to $426 million, or $0.98 per...
Noodle Specialty To Distribute Surplus Lines Liability Products from A+ XV-rated Carrier
Oct 27 2004 // Noodle Specialty Brokers (NSB), a division of InsuranceNoodle, Inc., announced: “Surplus lines liability products from an A+ XV-rated non-admitted carrier are now available via appointed wholesalers in 17 states and...
Guy Carpenter Unveils Reveal for Workers’ Comp Risks
Oct 27 2004 // Guy Carpenter & Company Inc. has announced the introduction of the Reveal model, a refined exposure rating tool that helps to identify the drivers of costly excess losses within workers’ compensation...
Nonadmitted Markets Open Options for Homeowners
Oct 25 2004 // Even before Charley and Frances, insurers were fleeing the homeowners market for high-risk properties at an alarming pace. Over the last several years, large catastrophe and mold losses have caused insurers to dramatically...
30th Annual NAPSLO Conference
Oct 25 2004 // Advisors Tackle Acquisitions, Consolidations at Surplus Lines Meeting Agency consolidations, consolidator’s objectives and a broad range of other trends and developments were highlighted by Steven S. Wevodau and...
The Midland Co. Reports Q3 Profit
Oct 21 2004 // Cincinnati-based The Midland Company, a provider of specialty insurance products and services, reported results for the third quarter ended Sept. 30, 2004. Net income per share was 12 cents, which included 1 cent in...
Lloyd’s Says Slip Quality Continues to Improve
Oct 18 2004 // Iain Saville, Lloyd’s Head of Business Process Reform, announced a further improvement in slip quality, but urged the market not to let up in its drive to improve the quality of slips as it enters the renewal...
Lloyd’s to Raise $900 Million from International Debt Market; Best Rates Issue
Oct 18 2004 // Lloyd’s announced that it plans to make its debut in the international debt markets, with an issue aimed at raising approximately £500 million ($902 million) of long-term subordinated debt. The announcement...
Indemnity Excess & Surplus Agency Hires Grenier, Promotes Eversole
Oct 18 2004 // Beaverton, Ore.-based Indemnity Excess & Surplus Agency Inc. has hired Delia Grenier as senior associate broker and promoted Darren Eversole to marketing manager. Grenier will be responsible for brokering and...
