Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Samsung Fire & Marine Insurance Takes Minority Stake in Canopius
May 3 2019 // Canopius AG announced it has entered into a strategic partnership with Samsung Fire & Marine Insurance (SFMI). Under the terms of the transaction, SFMI will become a significant minority investor in Canopius. The...
Ryan Specialty Finalizes Acquisition of International Specialty Insurance of North Carolina
May 3 2019 // Ryan Specialty Group, LLC, has acquired the assets and operations of International Specialty Insurance Services Inc. (ISI), an independently owned managing general underwriter with offices in Winston-Salem, North Carolina....
Insurance Broking Veterans, Led by McGill, Form Specialty Broker, McGill & Partners
May 2 2019 // Insurance broking veteran Steve McGill and a team of insurance industry veterans have partnered with Warburg Pincus, a global private equity firm, to launch McGill & Partners, a new specialty risk solutions...
Lloyd’s Aims to Halve Costs as It Modernizes Market Over Next 5 Years
May 1 2019 // Lloyd’s of London plans to halve the cost of buying insurance through the 330-year-old market as part of a strategy to restore the fortunes of the company. Chief Executive Officer John Neal said he planned to cut the...
Industry Veterans Catlin and Brand Launch Specialty Bermuda Re/Insurer Convex Group
Apr 30 2019 // Insurance industry veterans Stephen Catlin and Paul Brand announced they have launched an international specialty insurer and reinsurer, Convex Group Ltd. Convex launches with $1.8 billion of initial committed capital and...
Liberty Specialty Promotes Hall, Wheeler in Specialty Binders Team in London
Apr 29 2019 // Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has made two promotions within its specialty binders team in London. Kerry Hall becomes underwriting manager for property while Richard Wheeler...
Lloyd’s Innovation Drive Faces Headwinds from Some Brokers, Underwriters
Apr 26 2019 // Lloyd’s of London, the world’s oldest insurer of seafaring vessels, is facing its own perfect storm. Old-fashioned business practices, exposure to natural disasters, competition from rival centers and Brexit...
For Specialty Insurance Firm K2, It’s Time for a New Private Equity Backer
Apr 24 2019 // San Diego, Calif.-based K2 Insurance Services LLC is in the process of recapitalizing with a new private equity firm, one of the owners has confirmed. Privately-held K2 is a specialty insurance services holding company...
California Wildfires Helped Drive Homeowners Premium Volume in Surplus Lines
Apr 23 2019 // Wildfires have evidently been driving more Californians into the surplus lines market, pushing up homeowners surplus premium volume to more than $122 million in 2018, according to the Surplus Line Association of...
Axon Underwriting Forms Axon Re to Offer Cargo, Stock Throughput Reinsurance in Latin America
Apr 23 2019 // Axon Underwriting Services LLC, the Somerville, N.J.-based specialty lines program administrator, announced the formation of Axon Re to offer its cargo and stock throughput reinsurance program within the Latin American...
Liberty Specialty Markets Promotes Silvestre to Deputy Manager for France
Apr 23 2019 // Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted Emmanuel Silvestre to deputy general manager of its French operation. He reports to Richard Deguettes, general manager for France. Based...
SLTX: Surplus Lines Insurance Bills Advancing in Texas
Apr 22 2019 // The Surplus Lines Stamping Office of Texas (SLTX) reported that several bills that would affect the surplus lines insurance industry in the state have advanced in the state Legislature. HB 1940, relating to the eligibility...
Munich Re Syndicate Singapore Partners with Lloyd’s Coverholder Nectar Specialty Risk
Apr 18 2019 // Munich Re Syndicate Singapore (MRSS) has formed a partnership with Nectar Specialty Risk Pte Ltd. (Nectar), a Singapore incorporated limited liability company and Lloyd’s coverholder that provides tailor-made...
Canopius Signs Agreement to Purchase AmTrust at Lloyd’s
Apr 18 2019 // Canopius AG announced it has signed a definitive sale and purchase agreement to purchase AmTrust at Lloyd’s, a division of AmTrust Financial, subject to regulatory approval. Upon completion, which is expected in Q3...
ProAssurance of Alabama Makes Management Changes; Francis to Lead Healthcare
Apr 17 2019 // ProAssurance Corporation has revised its management structure for its newly formed Specialty P&C operating division. As previously announced, Michael L. Boguski will assume the presidency of Specialty P&C on May...
Florida’s Citizens Says $200M in Reinsurance Needed to Protect Personal Lines Surplus
Apr 15 2019 // Citizens Property Insurance Corp. plans to purchase approximately $200 million in traditional reinsurance coverage for the 2019 hurricane season to protect its Personal Lines Account (PLA) surplus it says is exposed to...
Senate Committee Passes Bill Impacting Florida’s Surplus Lines Insurance Industry
Apr 11 2019 // Senate Bill 538 passed from the Florida Senate’s Appropriations Subcommittee on Agriculture, Environment, and General Government on Tuesday, April 9. The bill, sponsored by Senator Jeff Brandes, R-St. Petersburg,...
Lloyd’s Syndicate Ascot Insures Farmers in 16 Nations Against Crop-Price Volatility
Apr 11 2019 // Farmers can now for the first time insure their produce against price volatility as easily as insuring their homes, with a global platform based on hundreds of niche commodity indexes, underwritten by a Lloyd’s of...
Lloyd’s Cracks Down on Drinking Culture in Market
Apr 10 2019 // Lloyd’s continues to tighten up its workplace rules by restricting people from entering Lloyd’s premises who are drunk or under the influence of drugs. The new rule, which was included in a market bulletin...
Florida Legislature Considers Reforms to Non-Admitted Insurance Market
Apr 9 2019 // Two bills seeking to change the way Florida surplus lines business is handled are currently working their way through the Florida State Legislature and advocates say the potential laws could bring much needed efficiency to...
