Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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...
Starr Appoints Capitano to Lead Primary General Casualty-Risk Management
Apr 8 2019 // Starr Insurance Companies has named Carmella Capitano, senior vice president, as head of primary general casualty-risk management and excess casualty. In this new role, Capitano will lead a team serving organizations with...
UK Specialty MGA Nexus Buys an MGA and a Broker – All in One Day
Apr 3 2019 // UK specialty managing general agent (MGA) Nexus Group lived up to its description as an “acquisitive insurance intermediary holding company,” with the purchase this week of an MGA and an insurance broker. On...
Marsh & McLennan Completes $5.6 Billion Acquisition of Jardine Lloyd Thompson
Apr 1 2019 // Marsh & McLennan Cos. (MMC) completed its $5.6 billion acquisition of Jardine Lloyd Thompson Group plc (JLT). “Today marks the beginning of a new era with Marsh & McLennan and JLT coming together. This is a...
People
Apr 1 2019 // National Ironshore Specialty Casualty has appointed Casey Hartley as senior vice president and head of programs. She will oversee the development, marketing and distribution of programs lines, working with programs...
Lloyd’s Issues Action Plan to End Sexual Harassment in Workplace Amid Recent Reports
Apr 1 2019 // In the era of #MeToo when the ills of sexual harassment are regularly in the news, a recent article published by Bloomberg Businessweek indicates that some men working in the London insurance market still haven’t...
