Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Ohio’s Westfield Launches Specialty Insurance Business
Jul 21 2021 // Westfield, a Westfield Center, Ohio-based super-regional property/casualty insurance company with a 173-year history, is entering the specialty insurance business with the launch of Westfield Specialty. Westfield appointed...
Medical & Commercial International Gets ‘In-Principle’ Nod to Form Lloyd’s Syndicate
Jul 21 2021 // edical & Commercial International (MCI), the specialist managing general agency, has received “in-principle” approval from Lloyd’s for Syndicate 1902 to underwrite business incepting on or after Jan....
Texas’ Incline P&C Group Partners with CRC’s 5Star Specialty Programs
Jul 20 2021 // Austin, Texas-based Incline P&C Group, through its Incline Casualty Co., is partnering with CRC Group’s 5Star Specialty Programs on transportation risks. Incline P&C Group is an insurance program market...
Africa Specialty Risks Secures $10M of PVT Capacity from Atrium at Lloyd’s
Jul 20 2021 // Africa Specialty Risks (ASR), the pan-African focused reinsurance managing general agent, announced it has secured an additional $10 million in capacity for its Political Violence and Terrorism (PVT) division from...
People Moves: Miller’s Higgins Joins New Broker Inver Re; Hartford Hires AXA XL’s Brodzinski for Global Specialty; Bayman to MS Amlin for Aviation Reinsurance
Jul 20 2021 // This edition of International People Moves covers appointments at a new reinsurance broker, Ardonagh’s Inver Re; The Hartford’s Global Specialty business unit, and the aviation reinsurance division of MS Amlin...
Surplus Lines Insurers Report 21.9% Premium Hike in First Half of 2021
Jul 20 2021 // Surplus lines premium exceeded $24 billion and premium bearing transactions exceeded 2.6 million through the first six months of 2021, according to the 2021 Midyear Report of the U.S. Surplus Lines Service and Stamping...
Apollo Gets ‘In-Principle’ Approval from Lloyd’s to Create Standalone Syndicate 1971
Jul 15 2021 // Apollo Syndicate Management, the London-based independent specialist insurer and reinsurer, announced it has been granted in-principle approval from the Council of Lloyd’s to convert Special Purpose Arrangement (SPA)...
Coalition Enters Canadian Excess Cyber Insurance Market
Jul 15 2021 // Coalition, the San Francisco-based cyber insurance and security company, announced it will enter the excess cyber insurance market in Canada to help protect businesses with enhanced coverage. With the coverage, Coalition...
Credit Ratings Assigned to Illinois’ Vantage Risk Specialty Insurance
Jul 14 2021 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Vantage Risk Specialty Insurance Co. (Vantage Risk) in Chicago. Vantage Risk is a...
Ryan Specialty Launches Initial Public Offering with 57M Shares
Jul 12 2021 // Chicago-based insurance broker Ryan Specialty Group Holdings has filed for its planned initial public offering. Ryan Specialty is offering 56,918,278 shares of its Class A common stock pursuant to a registration statement...
Applied Underwriters Acquires Generali’s U.S. Specialty Lines Division
Jul 12 2021 // Applied Underwriters has acquired the U.S. Specialty Lines division of Generali Group including Generali Warranty Services, which offers extended warranty programs and contractual liability insurance services. Applied...
AM Best Assigns Credit Ratings to Spinnaker Specialty Insurance Company
Jul 9 2021 // AM Best has assigned a financial strength rating of A- (excellent) and a long-term issuer credit rating of “a-” (excellent) to Spinnaker Specialty Insurance Company headquartered in Bedminster, New Jersey. The...
Texas Surplus Lines Premiums Reached $947.48M in June
Jul 8 2021 // Texas recorded $947.48 million in surplus lines premium, representing a 24.5% increase in premiums over June 2020, the Surplus Lines Stamping Office of Texas (SLTX) reported. SLTX has recorded $4.58 billion in premiums...
SiriusPoint Launches Specialty MGA Banyan Risk, Focusing on D&O Insurance
Jul 8 2021 // SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced the launch of Banyan Risk Ltd., a managing general agent that underwrites directors and officers (D&O) insurance. The company has been...
Aston Lark Acquires UK Broker ES Risks
Jul 6 2021 // London-based broker Aston Lark continues with its buying spree with the purchase of ES Risks Ltd. Financial details of the acquisition were not disclosed. Established in 2007 and based in London, ES Risks is a 45-strong...
MGA Rokstone Launches US$18M Marine Cargo Facility, Hiring Lloyd’s Veteran Birchard
Jul 6 2021 // Rokstone, the London-based speciality re/insurance managing general agent (MGA), has launched a US$18 million global facultative general marine cargo facility. Backed by A-rated global carriers, the facility includes US$5...
Specialization Versus Fragmentation. A Coordinated, Cohesive Approach to the Specialty Market
Jul 5 2021 // Over the last decade, industry experts have touted the benefits of independent agencies building industry- and product-focused specialization amid an increasingly competitive specialty distribution landscape and complex...
Palomar, PURE to Offer High-Value Residential E&S Construction Program
Jul 1 2021 // Palomar Holdings Inc. announced a new partnership with PURE Programs to offer owners of high value homes undergoing complex construction projects a new specialized excess and surplus (E&S) lines insurance and risk...
Digital E&S Broker Pathpoint Raises $30 Million
Jun 29 2021 // Pathpoint, a digital excess and surplus lines insurance brokerage, reported that it has raised $30 million in funding. Investors include Caffeinated Capital, which led the round, and repeat investors including SciFi VC,...
Chaucer Forms Lloyd’s Consortium for Firms Working on China’s Belt & Road Initiative
Jun 24 2021 // Chaucer, the London-based specialty re/insurance group, announced the launch of a new Belt and Road Consortium at Lloyd’s, which initially will underwrite political violence risks, with future solutions in...
