Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
AAMGA Selects Desrt Backdrop for ‘Diamond Jubilee’
May 7 2001 // This year the American Association of Managing General Agents (AAMGA) will celebrate its 75th Anniversary with a Diamond Jubilee, to be held May 20-24 in Palm, Desert, Calif. “[The Desert Springs Marriott Resort...
Lloyd’s Posts 23% Gain in U.S. Premium Income
May 2 2001 // Led by a strong performance in its surplus lines business, Lloyd’s announced a 23 percent gain in U.S. premium income for the year 2000 to $5.9 billion from $4.8 billion in 1999. “This increase is a reflection...
Lloyd’s Changes Internet Sites To Increase Broker Access
May 1 2001 // Lloyd’s announced that its old general website designation – www.lloyds.com – has become “An internet portal that will give insurance brokers and intermediaries all over the world direct access to...
Lloyd’s Admits Non-U.K. Based Brokers For the First Time
Apr 30 2001 // Of the six new brokers admitted to Lloyd’s select fraternity five are based outside of the U.K., marking the first time that the venerable institution has given foreign brokers direct access to the Lloyd’s...
Lloyd’s, IUA, Xchanging Processing Service To Start May First
Apr 30 2001 // Lloyd’s and London’s International Underwriting Association announced that their joint venture with Xchanging, an Internet and information technology specialist, to create a unified premium processing and...
Texas Motorcycle Market Cruises Along
Apr 30 2001 // There may be a strong parallel between learning to ride a motorcycle and insuring motorcycle operators. For the beginning rider, the first 90 days of vehicle ownership can be an especially risky period for crashes....
CDI Sinks Plans for Unlicensed Marine Agencies
Apr 23 2001 // Four entities and three individuals have run aground of the law when it comes to selling marine policies in the State of California. The California Department of Insurance (CDI) issued a Cease and Desist Order on March 30...
P/C Earnings Fall 7.5 Percent in 2000; Surplus Down for First Time Since 1984
Apr 23 2001 // The property/casualty insurance industry’s net income after taxes fell 7.5 percent last year to $20.2 billion from $21.9 billion the year before, according to figures released by the Insurance Services Office Inc....
POOR RESULTS FOR LLOYD’S
Apr 23 2001 // Lloyd’s announced preliminary estimates that it would suffer an overall loss of at least $1.6 billion for its 1999 year of account. Lloyd’s previously announced losses in 1998 of $1.54 billion. Lloyd’s...
The Surplus Line Association’s First Quarter Premium Data
Apr 21 2001 // The Surplus Line Association released its first quarter 2001 totals. The totals for processed surplus line premium is showing a 61 percent increase over first quarter 2000 levels. The increase, a reported $598,603,526 in...
P/C Earnings Fall 7.5 Percent in 2000; Surplus Down for First Time Since 1984
Apr 16 2001 // The property/casualty insurance industry’s net income after taxes fell 7.5 percent last year to $20.2 billion from $21.9 billion the year before, according to figures released by the Insurance Services Office Inc....
P/C Earnings Fall 7.5 Percent in 2000; Surplus Down for First Time Since 1984
Apr 11 2001 // The property/casualty insurance industry’s net income after taxes fell 7.5 percent last year to $20.2 billion from $21.9 billion the year before, Insurance Services Office Inc. and the National Association of...
S&P Lowers PAULA Insurance Co FSR to ‘CCCpi’
Apr 11 2001 // Standard & Poor’s lowered its financial strength rating on PAULA Insurance Co. to triple-‘Cpi’ from single-‘Bpi’. The rating action reflects the company’s deteriorating surplus,...
First Nevada’s Hopes End in Liquidation
Apr 9 2001 // Reno-based First Nevada Insurance Co. sold its first insurance policy in December 1995. The company sold its last policy a little more than five years later. Last month, Nevada 2nd Judicial District Court Judge Janet...
CDI Issues Cease and Desist Orders
Apr 6 2001 // The California Department of Insurance has issued a Cease and Desist Order against International Marine Underwriters Ltd.; International Wet Marine Underwriters; Marine Specialty Management; Commercial Water Sports...
CDI Issues Cease and Desist Orders
Apr 6 2001 // The California Department of Insurance has issued a Cease and Desist Order against International Marine Underwriters Ltd.; International Wet Marine Underwriters; Marine Specialty Management; Commercial Water Sports...
Lloyd’s Optimistic Despite ’98,’99 Loss Figures
Mar 28 2001 // Lloyd’s announced preliminary estimates Tuesday that it would suffer an overall loss of at least £1.11 billion ($1.6 billion) for its 1999 year of account. It had already announced losses in 1998 of £1.06 billion...
Combined Ratio for 2001 on Track to Hit Record High, ISO President Says
Mar 26 2001 // Amid signs that the property/casualty insurance market is improving, insurers’ prospects for greater profitability may actually be diminishing in today’s rapidly slowing economy, an industry leader warned. At...
LLOYD’S WINS AGAIN
Mar 26 2001 // On March 16, the U.S. Senate voted 79-18 to remove a provision in the pending Bankruptcy Reform Bill that would have prevented Lloyd’s of London from pursuing a number of American “Names” for debts...
Lloyd’s Follows Mir’s Re-Entry As the World Braces for Splashdown
Mar 22 2001 // Lloyd’s announced that an expert team of brokers and underwriters, who are closely following the de-orbiting process of Russia’s Mir space station, would be available to comment on the risks and other insurance...
