Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Texas’ Online Surplus Lines Filing System Now Partially Operational
Jun 25 2020 // The Surplus Lines Stamping Office of Texas (SLTX) says some elements of its new online filing system, SMART, were released on June 12. Surplus lines agents and brokers who file policies with SLTX using automated filing now...
Palomar Excess and Surplus Insurance Company Formed in Arizona
Jun 24 2020 // Palomar Holdings Inc. has formed Palomar Excess and Surplus Insurance Co. Palomar Holdings Inc. announced the underwritten public offering of 1 million shares of the company’s common stock PESIC has received all...
Investment Manager Nephila Capital to Launch Lloyd’s Syndicate with ILS Specialty
Jun 24 2020 // Nephila Capital announced that the Lloyd’s Council has given in-principle approval to Nephila’s plan to form a new syndicate. Bermuda-based Nephila is the largest institutional asset manager dedicated to...
Rival Wholesale Brokers Ryan Specialty Group and All Risks Agree to Merge
Jun 24 2020 // Two of the largest property/casualty insurance wholesalers are looking to merge. The deal will unite Chicago-based Ryan Specialty Group and its nearly $12 billion in premium, and All Risks, headquartered in Delray Beach,...
Some Facts About London’s Role in Insuring the Slave Trade
Jun 19 2020 // London is facing up to its role in insuring the slave trade as part of a sweeping global reassessment of history and racism. This reappraisal was triggered by the death of George Floyd, a black man who died after a...
Specialty Insurance Broker Towerstone Adds Blanquez in San Antonio
Jun 18 2020 // Towerstone, a Dallas-based specialty insurance broker and IMA Financial Group company, has added Thomas Blanquez to its energy practice and expanded its geographic footprint to San Antonio. Blanquez is a 21-year veteran of...
Update: Lloyd’s of London Apologizes for Its ‘Shameful’ Role in Atlantic Slave Trade
Jun 18 2020 // The Lloyd’s of London insurance market has apologized for its “shameful” role in the 18th and 19th Century Atlantic slave trade and pledged to fund opportunities for black and ethnic minority...
Lloyd’s Insurers Get Ready to Re-Open in September After Coronavirus Lockdown
Jun 18 2020 // Clear screens on underwriting boxes, temperature-check thermal cameras and a click and collect take-away catering service are among changes Lloyd’s of London insurance workers will see when they return to the office...
Allianz Global Corporate & Specialty Launches ‘Cyber Protect’ Product for UK Market
Jun 16 2020 // Allianz Global Corporate & Specialty (AGCS) announced the launch of a new Allianz Cyber Protect product in the UK. AGCS, Allianz’s entity for large-scale corporate and specialty risks, released its new Allianz...
Axon Underwriting Forms Product Recall Crisis Management Division
Jun 15 2020 // Axon Underwriting Services LLC, a specialty lines program administrator, has formed Axon Crisis Management to offer its product recall and foodborne illness and contamination products for U.S. domiciled...
Umbrella or Excess Liability: What’s the Difference?
Jun 15 2020 // Do I need an umbrella policy or an excess policy? Is there a difference and does anyone care? There are a few reasons that an insured may need (or want) more liability coverage than certain policies will provide. The...
Texas Surplus Lines Premium Amount Increases Again in May
Jun 12 2020 // The amount of surplus lines premium reported in Texas in May 2020 was nearly $100 million higher than reported in the same month last year, according to the Surplus Lines Stamping Office of Texas (SLTX). In May 2020,...
AM Best Upgrades Ratings of Arkansas’ Kinsale Insurance
Jun 11 2020 // AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-” of Kinsale Insurance Co. (Kinsale), in...
Enstar Boosts Capital of StarStone U.S. by $610M with Noonan, Consolino as Execs
Jun 11 2020 // Enstar Group Ltd. announced it has increased the capitalization of its specialty property/casualty insurance subsidiary StarStone U.S. Holdings Inc., by $630 million. Three private equity investors have committed $610...
Lloyd’s Insurer Lancashire Holdings Raises US$352M to Target Hard Market Opportunities
Jun 10 2020 // Lancashire Holdings Ltd. has completed an equity capital raise of approximately £277 million (US$352 million) through the placement of new common shares. The Lloyd’s insurer said it intends to use the proceeds of...
Lloyd’s Launches Application Program Interface (API) to Enhance Electronic Placements
Jun 9 2020 // Lloyd’s announced the launch of an application program interface (API), which is designed to help London market brokers and underwriters place business electronically. The new API is part of the market’s...
HDI Global Specialty Launches London Political & Credit Risk Team with Hires from Neon
Jun 9 2020 // HDI Global Specialty SE, the specialty lines insurer, has launched a Political and Credit Risk team in London with the hires of Nick Robinson and Anthony Vaughan. Both have joined HDI Global Specialty SE’s London...
Lloyd’s Creates Single Body for Governance to Improve Speed, Efficiency of Decisions
Jun 5 2020 // Lloyd’s announced it has merged the Council of Lloyd’s with the Franchise Board, creating one body to govern the marketplace. The decision to merge the two entities was first announced in November 2019....
Diverging Views: Is COVID a One-Off Catastrophe or Not?
Jun 5 2020 // While reinsurers are “open for business” and insurers and reinsurers are reporting the impacts of COVID-19 as a one-off catastrophe impacting earnings rather than capital, equity markets are viewing the...
Former California Surplus Line Chair Grant Was a ‘Determined Leader’
Jun 2 2020 // Donald W. Grant served as the chair of the board of directors for the Surplus Line Association of California, was involved in the wholesale brokerage community and founded a managing general agency. Grant died on May 24....
