Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
American Financial Group Agrees to Sell Run-Off Lloyd’s Insurer Neon to RiverStone
Sep 28 2020 // American Financial Group Inc. announced it has reached a definitive agreement to sell GAI Holding Bermuda and its subsidiaries, comprising the legal entities that own its Lloyd’s of London insurer, Neon, to...
What Ever Happened to Hedge Fund Reinsurers?
Sep 25 2020 // The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of...
Lloyd’s CEO Neal Sees Appeal of COVID Business Insurance Ruling Coming
Sep 25 2020 // Lloyd’s of London Chief Executive John Neal said on Thursday he expected a London judgment, which ordered some insurers to compensate struggling businesses for losses during the COVID-19 pandemic, to be...
CAC Specialty in Colorado Adds Movafaghi to its Tax Insurance Practice
Sep 23 2020 // Denver, Colo.-based CAC Specialty has named Matt Movafaghi a senior vice president in its tax insurance practice. Movafaghi was most recently a senior tax counsel for Chevron Corp., where he was responsible for...
Arch Insurance Forms Single Managing Agency to Manage 4 Lloyd’s Operations
Sep 23 2020 // Arch Insurance International has formed Arch Managing Agency Limited to mange its Lloyd’s units. Arch Managing Agency Limited, which brings together Arch Underwriting at Lloyd’s and Barbican Managing Agency...
Harris, King Named Execs at CAC Specialty’s Natural Resources Practice in Houston
Sep 22 2020 // CAC Specialty (CAC) has appointed Lisa Harris as executive vice president of Client Service and Gary King as executive chairman of its newly formed Natural Resources Practice, based in Houston. The Natural Resources...
Some Reinsurers Will Try Pandemic Exclusions for Casualty at Jan. 1 Renewals
Sep 18 2020 // Whether they are convinced that they absolutely need them or not, some reinsurers aim to try to put pandemic exclusions into casualty reinsurance contracts next year, a reinsurance broker representative revealed...
Ryan Specialty Group Names Cortezi, Nichols to Lead RSG Underwriting Managers
Sep 17 2020 // Ryan Specialty Group has made two key appointments at its managing underwriting division, RSG Underwriting Managers. Nick Cortezi has been named chairman and chief executive officer of RSG Underwriting Managers and Matt...
Sompo’s Davis Named President of Canopius USA as It Eyes Expansion
Sep 17 2020 // Specialty insurer Canopius Group has appointed Lisa Davis to the new position of president and chief underwriting officer of Canopius USA, effective October 1. Davis joins Canopius from Sompo America Insurance Services,...
Blackstone Joins Brit’s Parent Fairfax in Investing in Lloyd’s Digital Venture Ki
Sep 17 2020 // Digital Lloyd’s syndicate Ki reported that it has raised US$500 million from funds managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings, parent of specialty insurer Brit that is behind Ki. Ki...
Baird Joins WSS’ Houston Surplus Lines as Sr. Broker/Underwriter
Sep 16 2020 // Western Security Surplus (WSS), a part of XPT Partners, has hired industry veteran Suzy Baird as senior broker/underwriter with Houston Surplus Lines (HSL), a division of WSS. Baird is based out of the WSS Houston...
Lloyd’s Names AIG/Blackboard’s Schoberth to New U.S. Market Development Position
Sep 14 2020 // Lloyd’s of London has appointed Uwe Schoberth as U.S. market development director, a new role focused on expanding its strategic relationships with retail, wholesale and reinsurance brokers in its largest market. In...
Lloyd’s Underlying Underwriting Results See ‘Huge Improvement’ Despite COVID Losses
Sep 11 2020 // While Lloyd’s overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market’s underlying underwriting performance saw a “huge improvement,” which Chief...
Ascot Starts E&S Casualty Unit for U.S.; Welcomes AXA’s Roy as Senior VP
Sep 10 2020 // Specialty insurer Ascot has started an Excess & Surplus Casualty division for the U.S. and appointed Matthew Roy as senior vice president for the new wholesale unit. Writing exclusively on a wholesale basis, the...
Lloyd’s Reports First Half Loss of $520M on COVID-19 Insurance Claims
Sep 10 2020 // Lloyd’s of London recorded a pretax loss of 400 million pounds ($520.08 million) in the first half, battered by the coronavirus pandemic, the commercial insurance market said on Thursday. Insurers around the world...
S&P Says Underwriting in Lloyd’s Market Continues to Improve
Sep 7 2020 // The Lloyd’s market looks unlikely to turn an underwriting profit in 2020 given the pandemic and hurricane season. However, there are signs of improvement, according to analysts at S&P Global Ratings. S&P...
WSIA Annual Marketplace 2020: Going Virtual
Sep 7 2020 // As with most industries in a COVID world, the excess and surplus lines industry had to shut down its signature in-person networking event scheduled for Sept. 10-17, 2020. Instead the Wholesale & Specialty Insurance...
3 Questions for Lloyd’s U.S. Chief Hank Watkins
Sep 7 2020 // Lloyd’s of London announced it plans to stop accepting admitted market accounts in the United States in a year and focus on the U.S. reinsurance and excess and surplus (E&S) insurance market, where it is the...
Solving Risk Puzzles in a Complex World
Sep 7 2020 // Insurance professionals in the surplus lines sector are busy. Busy adapting to a changing business world during COVID-19. Busy adapting to a changing property/casualty market where standard lines insurers are steadfastly...
New Commercial Trucking Coverage from Hudson Targets Independent Contractors
Sep 3 2020 // Hudson Insurance Group has released commercial trucking coverage for independent contractors that is now offered through retail producers in select states. Coverage includes occupational accident, contingent liability,...
